BT advice strategy shaped by documentation costs: Cooper
Westpac's strategy relating to advice ownership has been shaped by the rising expense and complexity of advice documentation, BT chief executive Brad Cooper reveals.
February 21, 2019
No more ‘whingeing’; SMSFs about more than franking credits
The SMSF Association’s Jordan George says that while Labor’s franking credit policy is unfair, people should stop complaining and refocus on the ‘greater rationale’ behind self-directed funds.
February 21, 2019
$500K SMSF minimum ‘completely arbitrary’
Industry heads roundly criticised the Productivity Commission’s $500,000 minimum SMSF benchmark, but were warned that if an agreement wasn’t reached a ‘blunt instrument’ would come.
February 20, 2019
APRA funds take note: married couples like SMSFs
Almost 90 per cent of the 1.1 million ATO-regulated self-managed super funds are set up by married couples who have pooled their assets, something APRA-regulated funds don’t allow.
February 19, 2019
Advisers should direct trustees to ATO courses: ASIC
The regulator says advisers should be encouraging would-be SMSF trustees to undertake ATO online training. The SMSF Association’s Liam Shorte agrees and says the sooner the better.
February 19, 2019
Successful investing means imagining everything that can go wrong
Assessing risk in stocks works much better with a methodology that uses a temporal perspective, Tassos Stassopoulos says. Imagine you have already failed, and ask yourself why.
February 18, 2019
Cash should be simple, be wary when it’s not
In a world where cash rates have been at record lows for record periods, it should come as no surprise some providers are trying to dress up complex, riskier products as safe yield.
February 18, 2019
NAB delays MLC Wealth divestiture
NAB has stretched out the timeline for the spinoff of its MLC Wealth business and has kept a trade sale on the table as an option. Tahn Sharpe reports.
February 14, 2019
Royal commission costs tick over $500 million for AMP
The bank’s annual results also revealed net cash outflow of $3.968 billion from Australian wealth management, compared with $931 million net cash inflows the previous year.
February 14, 2019
Managed account conflicts of interest divide industry
Hayne’s benign take on the separation of product and advice left the door open for conflicts of interest in managed accounts to continue. Not everyone is convinced that this is a problem.
February 13, 2019
