SMSF property investing is much more than residential bricks and mortar
Residential property plays only a minor role in self managed super fund (SMSF) investment portfolios, according to Graeme Colley, director of technical and professional standards, SMSF Association. Property is the third-largest asset class of SMSF investment, with the combination of direct investments and real estate investment trusts totaling around 15 per cent of the total
May 06, 2015
You’ll never know what your clients think if you never actually ask them
Melbourne financial planner Dominic Alafaci, principal of independent advice firm Collins House in Melbourne, has achieved many things during his 34 years in the business. He began his financial services career as a registered tax agent, in 1981, and in 1984 started providing investment and superannuation advice, which he continues to do today. Although he
May 06, 2015
AFA recognises adviser excellence in education – Excellence in Education Award open for nominations
The Association of Financial Advisers (AFA)’s showcasing of adviser education and professionalism has begun for 2015, with nominations for the eighth AFA Excellence in Education Award (the Award), presented in conjunction with partner Asteron Life, now open. The Award, which will be presented to the winner at the AFA National Adviser Conference in Cairns in
May 05, 2015
Merger of Wealthsure, Sentry begs the question: what is the value proposition?
Perhaps the next challenge Wealthsure and Sentry Group must face is articulating a clear value proposition for its clients and advisers, both existing and prospective. The entity that emerges from the deal between Wealthsure and Sentry Group, which was formally announced last week, will rank among the top three non-aligned businesses in terms of adviser
May 04, 2015
You can’t hold back the tide when the time comes for industry reform
It was recently reported that of more than 300 risk advice businesses surveyed, most said they may be forced to shut up shop “partially or completely”, resulting in more than 700 job losses, if the recommendations of the Trowbridge Report on retail life insurance advice are adopted. Business closures and job losses are really just
May 04, 2015
There’s a hole in my bucket dear adviser, dear adviser
Over the last few years we’ve seen a growing number of strategies adopted by advisers to engage investors in their money decisions. One that has an intuitive appeal is sometimes termed the “Bucket Shop” approach as it can be applied to meet older investors’ needs. Conversations between advisers and their clients are typically constructed to
May 04, 2015
Asset fees continue to drop off but advisers still undervalue themselves
Asset-based fees are becoming less prevalent among practices that bill clients on a fee-for-service basis, according to a study into financial advice remuneration conducted by Elixir Consulting. The study drew responses from 275 businesses across Australia along with around four from North America. It found 76 per cent of those surveyed charged a flat upfront
May 01, 2015
Steele and Stone to depart AMP as top-level dealer group shakeup widens
The managing directors of three AMP-owned financial planning licensees – Genesys Wealth Advisers, ipac and Charter Financial Planning – are to quit their roles and leave AMP. Tim Steele, managing director of the Genesys and ipac, and Kevin Stone (pictured), managing director of Charter, are expected to leave AMP by the end of June. Steele’s
May 01, 2015
Rise of managed accounts puts spotlight on quality of thinking and reporting of performance
Dealer groups who have seen a decline in revenue after the Future of Financial Advice (FoFA) reforms are increasingly turning to separately managed accounts (SMA) as a new business line. The trend for dealer groups to create their own SMA propositions is in part being driven by client demand to which fund managers and platform
May 01, 2015
Executives of vertically integrated and conflicted advice businesses in corporate watchdog’s sights
An inability to take swift and effective action against the managers and executives of financial planning businesses remains a gap in the corporate regulator’s armoury that it wants to fill, according to ASIC commissioner Peter Kell. Speaking at an Association of Superannuation Funds of Australia (ASFA) conference yesterday, Kell said ASIC is seeking greater powers
April 29, 2015
Sentinel Wealth celebrates 10 years and wonders where planning will be in the next 10
Ten years from now, financial planners will be legally distinct from their product-selling counterparts. The financial advice space will also be a huge opportunity particularly favouring independent planners, according to the founding director of Sentinel Wealth, Justin Hooper. Hooper’s business celebrated reaching its 10-year milestone last week, an occasion that prompted his thoughts on where
April 29, 2015
Does a managed account really produce a better outcome for clients?
While originally marketed to high-net-worth clients in the mid 90s, ‘managed accounts’ are gradually becoming one of the most talked-about financial products in Australia. Professional portfolio management, customisation, tax efficiency and direct/beneficial ownership are some of the features promoted by managed account providers. But can managed accounts really leave clients in a better position? Under
April 29, 2015
