GoodReturns
Archive - 2020
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December 2020
31 Dec 2020 Getting to Know: Rob Everett
30 Dec 2020 Kiwi nears three-year high; NZX50 falls
29 Dec 2020 NZX50 soars as Meridian joins $20b club
29 Dec 2020 Property investor survey; The case for SME lending
29 Dec 2020 PROPERTY INVESTOR Survey - Please take part
29 Dec 2020 Access to capital is key to rebooting our small business economy
29 Dec 2020 Complaints are growing but that is good news says FSCL
27 Dec 2020 Crypto heading into the mainstream
25 Dec 2020 [The Wrap] Reflecting on a year of surprises
24 Dec 2020 Merry Christmas for the local stock market
23 Dec 2020 Records tumble as NZX50 cracks 13,000
23 Dec 2020 Renewables power to new highs
23 Dec 2020 FMA’s latest licence numbers show advisers are poised for change
22 Dec 2020 NZ shares outperform Asia as blue chips bounce back
22 Dec 2020 Is the housing market cooling off?
22 Dec 2020 Is the housing market cooling off?
21 Dec 2020 Covid resurgence slaps down kiwi dollar, NZ shares
21 Dec 2020 [The Wrap] What's the point of the FADC?
21 Dec 2020 Big banks say no to 40% investor deposits
21 Dec 2020 Big banks say no to 40% investor deposits
21 Dec 2020 Fine details of FSLAA revealed
21 Dec 2020 Select Wealth sticks with MMC
18 Dec 2020 Shares plummet as A2 shocks market
18 Dec 2020 How will 40% deposit requirements affect the market?
18 Dec 2020 How will 40% deposit requirements affect the market?
18 Dec 2020 Trail CRM to launch aggregator group
17 Dec 2020 NZ equities and dollar follow GDP higher
17 Dec 2020 Trail CRM to launch aggreggator group
17 Dec 2020 Partners snares BNZ Life
16 Dec 2020 Investors in a better mood and drive sharemarket higher
16 Dec 2020 Cigna’s adviser network strengthens with swathe of new appointments
16 Dec 2020 Effective vaccine, better earnings spur on markets
16 Dec 2020 Advisers react to ANZ investor decision; Bright outlook for non-banks
16 Dec 2020 Bright outlook for non-banks
16 Dec 2020 No appetite for PI any longer: compliance expert
15 Dec 2020 NZ shares fall as covid concerns investors
15 Dec 2020 Advisers react to ANZ's LVR decision
15 Dec 2020 MMC to launch new client investor experience
15 Dec 2020 ANZ gets tough on investors
15 Dec 2020 ANZ gets tough on investors
15 Dec 2020 FMA sets expectations for issuers of ‘green’ and ‘responsible’ funds
14 Dec 2020 NZ shares fall from record
14 Dec 2020 Housing crisis a supply issue
14 Dec 2020 New adviser aboard Mortgage Express
14 Dec 2020 Top 10 investment lessons
14 Dec 2020 Reserve Bank asks for DTIs
13 Dec 2020 Adviser appears before FADC on record keeping charges
12 Dec 2020 [The Wrap] Industry blindsided by PI decision
11 Dec 2020 F&P Healthcare rises while energy stocks fall
11 Dec 2020 Reserve Bank asks for DTIs
11 Dec 2020 Business lending boost in 2021?
11 Dec 2020 Business lending boost in 2021?
11 Dec 2020 FMA issues formal warning for market manipulation
10 Dec 2020 Sharemarket rally pauses, but good gains for some stocks
10 Dec 2020 NZX launch new regulatory agency: NZ RegCo
10 Dec 2020 Why is it so hard to build a home?
10 Dec 2020 Development loans fall
10 Dec 2020 OPINION: Why doing good is good for business
10 Dec 2020 FMA: Advisers without PI should 'take the bull by the horns'
09 Dec 2020 Infratil surge pushes NZX to new record
09 Dec 2020 Mortgage advisers against bright-line test extension
09 Dec 2020 SHARE outlines growth plans
09 Dec 2020 SHARE outlines growth plans
09 Dec 2020 PI cover in doubt for small adviser firms
08 Dec 2020 NZ shares caught in global hunt for clean energy
08 Dec 2020 Renewable electricity news drives NZX 50 move
08 Dec 2020 Advisers slowly warming to Partner’s Customer Outcome Matrix
08 Dec 2020 Fidelity Life and Sharecare part company
08 Dec 2020 Why the housing market won't cool
08 Dec 2020 NZX's wrap platform tops $7 billion
07 Dec 2020 New initiative sees travel brokers retain as insurance advisers
07 Dec 2020 Advisers against bright-line test extension
07 Dec 2020 New guard to helm Perpetual Guardian Group
07 Dec 2020 Advisers against bright-line test extension
07 Dec 2020 Are model portfolios an idea that is transferable to insurance?
06 Dec 2020 Travel agents get their financial advice wings
04 Dec 2020 NZX 50 falls as investors get ready for summer
04 Dec 2020 Good Returns Fund Manager of the Year 2020 winners announced
04 Dec 2020 'Bullying' banking conduct
04 Dec 2020 OPINION: Wholesale investor regime no loophole
04 Dec 2020 Charge of the lite (advice) brigade
04 Dec 2020 Jeff Royle and Resimac team up for investor loans
04 Dec 2020 Data security: What advisers need to know
03 Dec 2020 Listed exporters hurting from sky high kiwi
03 Dec 2020 Jeff Royle and Resimac team up for investor loans
03 Dec 2020 BNZ warned over responsible lending; Mike Pero Mortgages hires
03 Dec 2020 Mike Pero Mortgages makes new hires
03 Dec 2020 Advice gap in stark relief
03 Dec 2020 Neglecting financial advice costs health and wealth
02 Dec 2020 NZ shares flat as strong kiwi saps rally
02 Dec 2020 Cigna announce double appointment to its board
02 Dec 2020 BNZ warned over responsible lending failings
02 Dec 2020 Australian report raises alarm over life insurance’s future
02 Dec 2020 Is a bright-line test extension imminent?; Calls to fix the housing market
02 Dec 2020 Is a bright-line test extension imminent?
02 Dec 2020 Time to stop the finger-pointing on housing
02 Dec 2020 Milford unveil KiwiSaver digital advice tools
01 Dec 2020 A2 Milk leads sharemarket decline
01 Dec 2020 Westpac changes OCR call; Mortgage Lab training and development hire
01 Dec 2020 Westpac changes OCR forecast
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.
20 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.
22 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".
3 days ago Paul Flood