GoodReturns
Archive - 2017
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December 2017
29 Dec 2017 2017: The year in review
28 Dec 2017 Consilium reports super-charged growth
27 Dec 2017 Listed property trusts uncovered
27 Dec 2017 Financial Advice NZ acknowledges frustrations
22 Dec 2017 NZX appoints new funds management boss
22 Dec 2017 Changes to unsecured masonry repair initiative
22 Dec 2017 Mortgage lending bounces back up
22 Dec 2017 Partner Life appoints GM of brand and marketing
22 Dec 2017 2018 brings challenges for fund managers
21 Dec 2017 Pre-Xmas housing policy rush
21 Dec 2017 ANZ plan to sell UDC Finance stalled
21 Dec 2017 Savers may be better off with govt fund: Treasury
21 Dec 2017 ANZ adjusts deposit requirements
20 Dec 2017 FSLAB submissions sought
20 Dec 2017 Migration flow plateaus
20 Dec 2017 Fast track for foreign buyers ban
19 Dec 2017 Partners makes high-profile board appointment
19 Dec 2017 2017 and 2018: recap and outlook
19 Dec 2017 Rents shoot up due to limited stock
19 Dec 2017 Future of financial services
19 Dec 2017 More consultation on Minister's to-do list
18 Dec 2017 ANZ Investments' profit drop
18 Dec 2017 NZ Super Fund excludes marijuana
18 Dec 2017 Inescapable impact of credit cards
18 Dec 2017 Brash joins advice group board
18 Dec 2017 Boarding house business success
18 Dec 2017 KiwiFund could have unfair advantage
15 Dec 2017 New ASB boss appointed
15 Dec 2017 Getting to Know: Paul Sewell
15 Dec 2017 KiwiSaver should invest more in NZ: Gaynor
14 Dec 2017 KiwiFund moves closer
14 Dec 2017 Non-bank sector booming
14 Dec 2017 Refund for TSB break fees miscalculation customers
14 Dec 2017 Foreign buyers ban bill hits Parliament
14 Dec 2017 Law changes look like Aussie model: Stewart
13 Dec 2017 Spring sales lift comes through
13 Dec 2017 Dealer groups prepare for legislation change
12 Dec 2017 Hanover investors sought
12 Dec 2017 nib gets tick
12 Dec 2017 Post-election bounce back
12 Dec 2017 Nearing an end to the NZ Goldilocks?
12 Dec 2017 KiwiSaver tax breaks mooted
12 Dec 2017 Focus on financial crime
12 Dec 2017 Financial Advice NZ recruiting
11 Dec 2017 New RBNZ Governor announced
11 Dec 2017 Limited impact from foreign buyer ban - REINZ
11 Dec 2017 Unlock wealth: ditch your day job
11 Dec 2017 FMA preparing for advice changes
08 Dec 2017 FMA loses newish senior manager to Pie Funds
08 Dec 2017 Rental WoF schemes spread
08 Dec 2017 SHARE adds marketing and technology focus
08 Dec 2017 The Wrap: Bill gets yes, PAA gets no
08 Dec 2017 Stars align for Constellation Capital
08 Dec 2017 Ups and downs to end the week
07 Dec 2017 It's real; Financial adviser reforms are go
07 Dec 2017 Fisher and Barratt offer advisers The Answers
07 Dec 2017 Return to market stability
07 Dec 2017 FSC suffers financial blow but integration on cards
07 Dec 2017 Few takers for advice - but retirees rue missed opportunity
06 Dec 2017 Nikko plots KiwiSaver launch
05 Dec 2017 Inflation problem for RBNZ
05 Dec 2017 Debenture funding down at UDC
05 Dec 2017 Hesitancy colours Auckland market
05 Dec 2017 HIV, AIDS and Insurance
05 Dec 2017 No bite in bank ad complaint
05 Dec 2017 Policymakers and asset prices: an even bigger moral hazard?
05 Dec 2017 Mortgage Link appoints National Sales manager
05 Dec 2017 Top 10 predictions for 2018 - Colliers
05 Dec 2017 PAA gets 'no' vote
04 Dec 2017 Upping the tenant screening ante
04 Dec 2017 LVR changes won’t prompt market frenzy
04 Dec 2017 Revealing stats from specialist lender
04 Dec 2017 AMP Capital sees strong demand for passive funds
04 Dec 2017 A capital investment
04 Dec 2017 Westpac ups rental income allowance
04 Dec 2017 FSLAB gets promotion
04 Dec 2017 Gannon steps down from Newpark
01 Dec 2017 RESIMAC turns five
01 Dec 2017 Big jump in new listings
01 Dec 2017 Westpac makes a little change
01 Dec 2017 Working group outlines new code's principles
November 2017
30 Nov 2017 Healthy Homes now law
30 Nov 2017 Apartment consents slump
30 Nov 2017 LVR loosening not enough
30 Nov 2017 Advice bill faces year-long delay
29 Nov 2017 DTI proposal on hold
29 Nov 2017 LVR easing sooner than expected
29 Nov 2017 RBNZ to ease LVR restrictions
29 Nov 2017 Innovation 'not just digital'
29 Nov 2017 DIMS advisers face uncertainty... again
28 Nov 2017 LVR speculation rife ahead of FSR
28 Nov 2017 Capital leaky home case clears last hurdle
28 Nov 2017 FMA tool ignites fee debate
27 Nov 2017 Bye bye Samoa: Hello Sharon
27 Nov 2017 ANZ names new chief economist
27 Nov 2017 Simplicity lists on platforms
27 Nov 2017 Summer’s top sale methods
27 Nov 2017 Super cheap Boom
27 Nov 2017 Adviser explores what it will take to engage consumers
27 Nov 2017 Under review: NZ housing
Latest News
Advice adds at least 5% a year, but clients can’t see most of it
Advice adds at least 5% a year, but clients can’t see most of it
4 min read
Adviser use of ETFs likely to continue to grow, Smart says
Adviser use of ETFs likely to continue to grow, Smart says
2 min read
FMA outlines its latest expectations for advisers
FMA outlines its latest expectations for advisers
6 min read
[Weekly Wrap] KiwiSaver in play; but outcome unclear
[Weekly Wrap] KiwiSaver in play; but outcome unclear
2 min read
Latest Comments
FMA outlines its latest expectations for advisers
Paul Flood: The danger is that the 'goalposts' (regarding what is acceptable or unacceptable adviser conduct) may be susceptible to change. Our 'Principles based' legal/regulatory environment lends itself to “prevalence-induced concept change” over time, perhaps not so much in the written laws and Code, as in the interpretation of the prescribed principles.
6 hours ago Steve Wright
FMA outlines its latest expectations for advisers
Just a tip, if you use more than six, six letter words in a sentence you lose most Kiwi's. So avoid client/adviser confusion when writing your post or article if you would like it read and understood. Ironically, my last sentence was not likely read.
9 hours ago Backstage
FMA outlines its latest expectations for advisers
All things said are great aspirational goals for a great financial advice industry, it mirrors what both the legislation and the code requires. However, like most things discussed it talks about what's expected not how it's done. The hardest aspect of financial advice today isn't what it is, it is how it is done. The how only comes from those that have done it, the how is only provided with examples. Guidance documents that spell out what's required along side how it it done. We’re still dealing with the same issues we started with in 2021, figuring out the how. And figuring out the how in every advice business is consuming resources that could easily be shortcut by the FMA demonstrating what they are expecting. It's not about “do it this way” its about this is the sorts of things we’re looking for. In the absence of standards and expectations, guesswork prevails. That represents significant risk to FAPs and the result is onerous overcooked advice processes for multiple advice operations and undercooked she’ll be right for single operators focused on getting the work done. Both approaches have potential for harm and as its been said earlier, leaves advisers open to explain they haven't been speeding with the authorities have pulled them over. The advice industry needs guidance on the how we know the what already.
2 days ago Jon-Paul Hale
Who is responsible for notifying policy changes?
Sticking an oar in, while we have “service” requirements the expectation that an adviser is responsible for discussing said change is relying heavily on assumption. 1. That the client hasn't moved and contact details haven't been updated. It happens more often than many think. 2. It assumes there is a servicing agreement in place to provide service. Remember the requirement is to scope service not provide it. A client deciding to have ad-hoc service on their request is a legally valid position to have. 3. If there is a service agreement that's realistic to what is expected, how long does the adviser push the issue to have the discussion before moving on with everything else they have to do? Again, a point that is not clear in the guidance to date. The challenge of the present rules is the adviser is responsible for ensuring the client understands the advice provided. How do you ensure you're covering this if a client doesn't engage despite genuine attempts to manage it? There's still a lot of “what if’s” in this whole are we’re only going to have clarity on once someone is taken to task about it. But first we need to have clarity on what ongoing service actually is, because right now demonstrated by the direct providers a letter once per year with a please call if you want to discuss is the current minimum…
2 days ago Jon-Paul Hale
FMA outlines its latest expectations for advisers
To correct errors in my previous post: "policies, templates, and controls" should read "policies, processes, systems and controls", and "is more conductive" should read "is more conducive".
2 days ago Paul Flood