Gift horse or Trojan horse – what to make of bank support for a financial planning profession?
If something looks too good to be true, or so the saying goes, then it’s probably not true. It’s a principal that shapes the response to much of what lobs into the Professional Planner inbox. Then again, we’re told never to look a gift horse in the mouth. But we all remember the story of
May 15, 2015
Once more unto the breach, dear friends: Why licensees shouldn’t shy away from ‘fessing up
Breach reporting is not something AFS licensees should fear or avoid. The breach reporting mechanism established by ASIC is nothing more than an expectation that licensees will promptly, responsibly and objectively reflect on every situation to try to improve for next time and report those that are significant enough to warrant the attention of ASIC.
May 15, 2015
BUDGET 2015: Technical analysis of the impact on advice strategies
The 2015 Budget, handed down yesterday by the Treasurer Joe Hockey, contained few surprises for the financial planning community – either as business owners in their own right or for clients. The technical analysis of the changes and the impact on advice strategies and investments will emerge over coming days and Professional Planner will provide
May 13, 2015
UPDATED BUDGET 2015: What it means for you and your clients
Retirement planning strategies have escaped the need for a major rethink after the government last night confirmed it would make no unexpected or detrimental changes to superannuation in this parliamentary term. And small businesses – those run by financial planners themselves, as well as those run by the clients of financial planners – have been
May 13, 2015
You might think it’s crazy: CARS aims for robo-based retirement modelling
A revolutionary program that offers robo-advice on optimal investment plans for individuals could change the face of retirement offerings for superannuation funds. The model, which has been created by three actuaries, factors in detailed statistics on investment, health and mortality, alongside personal data on wealth, income requirements and risk preferences. The multiple inputs have been
May 13, 2015
INTERACTIVE: A land of opportunity – where is the best place to be a financial planner?
With an estimated population of 23.79 million – as of April 14, 2015, according to the Australian Bureau of Statistics (ABS) – Australia isn’t exactly over-serviced by financial planners. Estimates of the number of advisers vary, and are notoriously unreliable, but a generally accepted figure of about 18,000 means there’s plenty of space, and clients,
May 12, 2015
Post-retirement product focus ignores investor needs
Picture a scene. A doctor is about to give you some very bad news. You have a life-threatening disease which only afflicts 5 per cent of people and will require a major operation. It’s not only a shock but the statistics are cold comfort when it’s your future that’s at risk. That’s the type of
May 11, 2015
Commission or fee: just how much value is there in a name?
The life insurance advice industry is unnecessarily focused on the terminology of remuneration as either commission or fee-for-service, according to consultant and risk adviser Chris Unwin. “The problem is in the adviser’s head. It doesn’t matter whether you call it a commission or a fee; the question is do you actually represent value to the
May 08, 2015
Low interest rates can’t last, and when they rise you should be ready for the impact
There are many who argue that current low world interest rates will continue indefinitely. That goes for short rates as well as long rates. They argue that the weakness of the world economy, weak demand for funds, high savings and/or deflationary forces will keep interest rates low. I disagree. To me, that sounds more like
May 08, 2015
Grab your Walkman and get ready for a new Japanese dawn
Mid-year I’m returning to Japan for the first time since I taught English in Osaka in 1988, walking the neon streets listening to the Pet Shop Boys on a Walkman. Yes, it was a long time ago. I’m told it’s unrecognisable today. That is unsurprising because the Japan I knew then was on the crest
May 08, 2015
