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News Bites

Bascand takes financial stability

Reserve Bank deputy governor Geoff Bascand will take over the financial stability function while Grant Spencer fills in as governor from September.

 
1 min read
Bascand takes financial stability
Super Fund writes off turbine investment

1 min read
Super Fund writes off turbine investment
NZX joins United Nations Sustainable Stock Exchange

1 min read
NZX joins United Nations Sustainable Stock Exchange
FSCL COnf promo

2 min read
FSCL COnf promo
Hunter Hall Global Value fund trading again

1 min read
Hunter Hall Global Value fund trading again
Spotlight on emerging tech and financial markets

2 min read
Spotlight on emerging tech and financial markets
NZ Funds drops Wellington investment

1 min read
NZ Funds drops Wellington investment
Want to develop the new code?

1 min read
Want to develop the new code?
AMP offers zero fees

1 min read
AMP offers zero fees
AIA appoints Golden Boots as global ambassador

2 min read
AIA appoints Golden Boots as global ambassador
PIE Funds reopens soft-closed fund

1 min read
PIE Funds reopens soft-closed fund
Law change won't redraw boundaries

1 min read
Law change won't redraw boundaries
Hunter Hall to tell shareholders to back merger

1 min read
Hunter Hall to tell shareholders to back merger
FSC welcomes super move

1 min read
FSC welcomes super move
US rate rise likely this month

1 min read
US rate rise likely this month
Renfrew's firm joins Consilium platform

1 min read
Renfrew's firm joins Consilium platform
Asteron rating affirmed

1 min read
Asteron rating affirmed
MJW makes statements available

1 min read
MJW makes statements available
IFA/PAA conference registrations open

Registrations have opened for this year’s combined IFA and PAA conference.
1 min read
IFA/PAA conference registrations open
Synergy takes pension transfers

Synergy Investments is now accepting UK pension and New Zealand superannuation transfers through the i-Select Supernanuation scheme.
1 min read
Synergy takes pension transfers
ASB happy with Aegis

ASB Bank chief executive Barbara Chapman says its platform business, Aegis, is "performing well" at the moment.
1 min read
ASB happy with Aegis
Ponzi scheme alleged

1 min read
Ponzi scheme alleged
Bad fish

1 min read
Bad fish
Philip's Christmas message

As the year draws to a close and you get ready for Christmas, all of the team at Good Returns would like to wish you the best for the festive season.
2 min read
Philip's Christmas message
Latest News
Sold sign goes up on Consilium
Sold sign goes up on Consilium
2 min read
Another global fixed interest manager comes to town
Another global fixed interest manager comes to town
2 min read
NZ financial system holding up, but global risks growing
NZ financial system holding up, but global risks growing
1 min read
Global share trading platform Tiger Brokers goes local
Global share trading platform Tiger Brokers goes local
2 min read
Latest Comments
Are life advisers expected to recommend the ‘best’ product?
Well said! The FMA is going to act on answers to questions asked that don't put the client first. Mentat’s point on considering all of the market variables is what we all should be considering. Yes, its more work, but that's what we’re paid for. This is also where good scope definitions are critical. Its fine to state you only consider one insurer; you could go as far as saying you only provide $500k life cover contracts from one insurer. If its scoped and disclosed appropriately and the client accepts that scope of service, then go for gold. But don't expect that client to remain one, because another adviser explaining all of the above will pick them up in a heartbeat.
1 month ago Jon-Paul Hale
Sold sign goes up on Consilium
Congratulations to Scott and the outstanding team at Consilium. When I first joined as a partner firm, there were about eight staff and no platform. But they did have a dream and spoke the same investment language I understood and believed in. Courageously built and beautifully executed at sale time. Well done.
1 month ago John Milner
Why did ANZ's adviser originated loans fall in the past six months?
Talking to a lot of advisers around the country a lot say that when ANZ disallowed advisers to negotiates new interest rates for their customers with ANZ took away a part of the adviser's service to their customers, of which advisers had been doing for a long time. ANZ customers are now directed to lock in a new fixed term interest direct online without any advice, not all customers want this.
1 month ago Valkyrie Vulcan
Are life advisers expected to recommend the ‘best’ product?
"I know the FMA will not accept an adviser using the, "well, they rate the best" as sufficient rationale for suitability and marketing only 1 insurer. Also, using that same phrase for changing a client's insurer." That's an interesting thing to 'know' with such clarity. It's a good discussion point, but if you want a more realistic glimpse of what is likely to happen here in the future, speak to those involved in the Australian market about the removal of the 'safe harbour' provision in their financial advice regulation. Not only is it likely that product research into features and benefits likely to become more necessary, not less, but it also seems more and more likely that the actual underwriting terms offered across the entire market will need to be considered. Sounds good, right? In theory this might be true if all insurers were roughly of equivalent standard in underwriting and product with minor divergences. In practice, this will likely mean it's actively wrong to NOT market only one insurer for the majority of cases - whichever insurer currently has the best product to price to underwriting ratio, and marketing any insurer other than that one will be actively breaching regulation.
1 month ago Ross Alexander
Are life advisers expected to recommend the ‘best’ product?
From my two FMA audits, I believe the regulator just needs a reasonable and logical justification for why you selected a particular insurer. If you can't provide one and the product selected just happens to pay the highest commission in the market, then problems could be coming your way.
1 month ago Bryan Tucker