Small but perfectly formed: How to build a platform with the lot, on a budget
It’s highly likely that BT Financial Group’s Panorama platform will be the smartest, most-fandangled wrap when it’s finally completed. So far BT has only delivered a cash hub, but plenty of additional functionality is promised. BT believes the platform will be “game changing” – and so it should be given Westpac’s mammoth investment, estimated to
October 07, 2014
A formal education is the experience some financial planners need
School holidays are over, and for one cohort of students Year 12 officially starts today. It can be a difficult year, and for many kids it can also be a very stressful year. It represents the culmination of more than a decade of schooling; and whether we like it or not, it creates a benchmark
October 07, 2014
IN FOCUS: The professional dividend pays off in more ways than one
It takes time, commitment and no small expense to achieve a professional designation. The payback comes in more ways than one. Simon Hoyle reports. Dr Adrian Raftery is a senior lecturer in financial planning and superannuation in the school of accounting, economics and finance, faculty of business and law, at Deakin University. He is a
October 06, 2014
A new lease on life for former Shadforth Financial Group duo
Walking away from a combined 30 years with a firm they feel no longer suits their financial planning approach, ex-Shadforth (SFG) advisers Charles Badenach and Rebecca Fergusson have launched their own practice. The pair resigned from SFG, now owned by IOOF, only to link their new practice, Main Street Financial Solutions, to another IOOF-owned licensee.
October 03, 2014
Horses for courses when it comes to matching products to clients’ needs
A recent post in this publication featured a paper by Gail Pearson, Professor of Business Law at the University of Sydney Business School. The otherwise well-balanced document was somewhat misleading in its title, “Spotlight on planners ignores dodgy financial products”. While it didn’t expand greatly on the premise, the title creates the impression that many
October 03, 2014
The nine-step portfolio health check every financial planner needs to perform
After an extended period of globally low interest rates and a flood of liquidity being pumped into the financial system, there is a heightened probability that credit and share markets will experience a correction in the medium term. There are a number of concerning signals including: – The signal by the US Federal Reserve that
October 03, 2014
Mentoring those seeking their own AFSL is a priority for boutique planners’ group
There is strength in diversity, but leading a self-described “bunch of rugged individualists” has its challenges, too. Dacian Moses, recently elected president of the Boutique Financial Planning Principals Group (BFPPG), should know this: as a director of financial planning firm Waterfall Way, Moses is one of the very individualists the BFPPG represents. But despite the
October 01, 2014
Independent licensee eyes expansion of its “liberating” advice model
The head of Sentinel Wealth, Justin Hooper, wants to prove a point. Scaling up the business and replicating its philosophy is important to him in silencing the doubters. Co-founded by Hooper in 2004, Sentinel will celebrate its first decade in December, a particularly important milestone for an independent financial planning business that has lived through
October 01, 2014
Part man. Part machine. All adviser. Robo-advice – the future of financial planning?
At an initial glance, the value proposition of online automated advice and investment management is twofold: lower fees; and cost-effective access to professional portfolio management. But it is deeper than this. “Robo-advice” models seek to engage customers who are disinterested in or dissatisfied with traditional financial services and advice. In addition, they seek to interact
October 01, 2014
Fee for service outweighs asset based remuneration by two-to-one
Flat-fee structures outnumber asset-based remuneration models within Australian financial planning practices, according to research from Elixir Consulting. The study was conducted in August this year, surveying a cross-section of almost 300 financial planning practices around the country. It found that around twice as many of those who responded charged a flat fee for service as
September 29, 2014
The real debate on managed accounts is about incumbents versus niche providers
There appear to be two main competing views about the use of managed accounts. One perspective is that the incumbent platform providers have been slow to add managed account functionality which has allowed niche providers using modern technology to forge closer relationships with advisers, particularly those who deal with high net worth clients and self-managed superannuation
September 29, 2014
A reasonable assumption: The financial planner’s guide to super forecasts
There are a number of ways a financial adviser can educate their clients about how much money they may need to achieve their objectives in retirement. One such way is to conduct a superannuation forecast. According to Australian Securities and Investments Commission (ASIC) Regulatory Guide 229, clients who receive some form of superannuation forecast are
September 29, 2014
