Industry

Aussie financial planners considering Chinese opportunities should think again

Treasurer Scott Morrison’s recent comments aside, Australian financial planners would do better focusing on the huge non-advised domestic population than the untapped Chinese advice market. The federal Treasurer emphasised China’s high demand for a wide range of goods and services, including financial services, and his belief Australia is ideally positioned to capitalise on this. “There […]
Advice

Low-cost financial advice solutions may be more important than ever

The economics of traditional financial advice models are becoming increasingly unsustainable, according to new analysis from consulting firm A.T. Kearney. The research combines in-house and Australian Bureau of Statistics data, and indicates only 20 per cent of households are wealthier now than a decade ago (figure 1). It also shows that only clients in this […]
Risk & Insurance

Uncertainty remains after government responds to LIF

The government’s final changes to the Life Insurance Framework address some concerns cited by risk advisers, but leave a number of questions unanswered. Last Friday’s announcement from Assistant Treasurer Kelly O’Dwyer revised the responsibility period for a clawback of commissions from three years to two. It also confirmed other recommendations including broadened approved product lists […]
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