When only a purpose-built recruitment solution will do
Financial planning practice Clarity Wealth has launched an in-house recruitment business to serve both its own needs and those of the broader small-to-medium practice arena. Clarity Recruiting opened for business within the last fortnight, as a separate division of the practice, which itself operates under the Australian Financial Services license of ANZ-owned RI Advice. Headquartered
June 18, 2015
Life companies also need to lift their game amid the risk industry shakeup
Australia’s life insurers need to improve their efficiency and become more agile in delivering the products advisers and their clients need, says Philip Kewin, general manager – retail of Zurich Life and Investments. “We have to become more efficient in delivering the product to market, so we make the most of all the technology delivered
June 16, 2015
How consumers really behave will shape the next phase of superannuation regulation
It was really the post-war boom in consumer markets that led to independent consumer-funded organisations such as CHOICE springing up around the world. The first CHOICE magazine was published in 1960, and CHOICE today remains consumer-funded. The whole purpose of CHOICE is to give consumers better information so that they can make better decisions in
June 16, 2015
Advisers rethink investment options as scrutiny of the cost of delivering advice ramps up
Increased scrutiny of the cost of delivering advice is encouraging more financial planners to explore low-cost investment implementation options, in a bid to retain a greater slice of the overall margin. Tim Bradbury, head of client coverage for MSCI in Australia, says there is evidence of this in the continued strong net new asset growth
June 16, 2015
Addressing the age-old issue of utility, and articulating how advice changes people’s lives
The value of Australian financial services licensees will be assessed by how well they help advisers to empower clients to make better financial decisions, and whether clients understand how financial advice has changed their lives. The Professional Planner Dealer Group Summit, held on June 1 and 2, heard that the value added in any service
June 15, 2015
Crime doesn’t pay: How a poor decision today could prohibit an SMSF trustee for life
Certain events can disqualify a person from being allowed to have a self-managed super fund (SMSF). One such event is conviction of an offence in respect of dishonest conduct (see section 120(1)(a)(i) of the Superannuation Industry (Supervision) Act 1993 (Cth) (SISA)). However, it is possible to have a disqualified status waived under section 126D of
June 15, 2015
Umbrellas, insurance bonds and Money Shows: the loss of a pioneer recalls the foundations of a great industry
Somewhere in the deluge of emails in the past few weeks, I missed one on May 27 that came from Phil Anderson, Challenger’s business development manager in NSW and ACT. I wish I’d found it earlier. Anderson’s message carried news of the death earlier this year of David Stubbington. The Rt Hon David G Stubbington,
June 15, 2015
Discontent with licensees has financial planning practices lining up at Countplus’s door
Barry Lambert’s listed wealth management business Countplus is in discussions with more than 20 high-quality financial planning practices about Countplus subsidiary Advice389 taking an equity stake in the businesses. Discontent with existing licensees is a major factor in financial planning firms entering discussions, says Advice389 chief executive officer Pierre Kraft. He says the Advice389 offer
June 11, 2015
The debate over remuneration, risk advice and regulation may really be about value
Though few would admit it, many financial planners are uncertain about the value they bring to clients, according to the head of Perth-based practice Black Swan Event Financial Planning. “The constant challenge for everybody, in every sort of business, is to give value for money. All the arguments about price and everything else [in the
June 11, 2015
Licensees have a central role to play even as financial planning eyes self regulation
As the financial planning industry inches towards the status of profession and the self regulation needed to achieve that, the Professional Planner Dealer Group Summit, held last week, has heard that the role of financial planning licensees will remain central, but that it will have to evolve. In a session debriefing a series of earlier
June 11, 2015
Yellow Brick Road offers itself as financial planning guru to the 80 per cent disengaged
Wealth management business Yellow Brick Road will launch today a new online modelling tool it claims will turn the financial planning process on its head, handing “power and control” directly to consumers. The firm is also hiring what it calls “money coaches” – individuals who are not necessarily qualified financial planners – to help guide
June 10, 2015
Licensees zero in on businesses evolution, value propositions and the role of financial planners
The current pace of regulatory change will undoubtedly force some advisers out of the business, but that is not necessarily a bad thing if it allows advice offerings to evolve and expands the role of the financial planner, the Professional Planner Dealer Group Summit has heard. Of more concern to the dealer groups and licensees
June 09, 2015
