IOOF launches enhanced online trading and transaction portal
IOOF today unveiled the latest enhancements to its Pursuit online trading and transaction platform, making the platform more powerful, easier to use and more efficient than ever before. The platform transformation includes significant upgrades to Pursuit’s online transaction, share trading and corporate actions capabilities. The enhancements empower advisers to: – Place all buy and sell transactions
November 18, 2015
New report points to a critical disconnect between financial planners and BDMs
The commercial objectives of business and practice development managers (BDMs and PDMs) are misaligned with those of the financial planners they service, according to a new report from Business Health. Only one-third (38 per cent) of the 74 respondents to the Business Ready II study identified adviser profitability among their top key performance indicators. “The
November 17, 2015
O’Dwyer adamant that life insurance reforms are “done and dusted”
The Assistant Treasurer, Kelly O’Dwyer, says no further changes will be made to the proposed Life Insurance Framework (LIF) following a delayed start date and changes to clawback provisions previously announced. Speaking after a Financial Services Council breakfast in Sydney on Monday, O’Dwyer told Professional Planner that as far as the government is concerned, “What
November 17, 2015
2015 Wheel Classic nears its conclusion as cyclists close in on Brisbane
Cyclists in the 2015 Future2 Wheel Classic are a mere 150km away from their final destination of the Brisbane Convention and Exhibition Centre and will complete the final leg of the ride on Wednesday when they arrive at the opening night reception of the 2015 Financial Planning Association Professionals Congress. Over the course of the
November 17, 2015
iShares to launch three global fixed income ETFs
iShares Australia is developing three new exchange traded funds (ETF) focused on global fixed income with plans to launch by the end of the year, according to Jon Howie, head of iShares Australia. “Already Australian investors can create reasonably diverse portfolios with ETFs but there is a glaring hole when it comes to global fixed
November 17, 2015
Montgomery Fund celebrates third anniversary with “Recommended” Lonsec Rating
Montgomery Investment Management’s (Montgomery) flagship fund, The Montgomery Fund, has marked three years since inception receiving an upgraded “Recommended” rating from Lonsec. Montgomery is a Sydney-based boutique funds management business focused on disciplined long term investing outcomes for its retail, HNW, adviser and institutional clients. The Montgomery Fund aims to achieve long term capital and
November 17, 2015
Lazard Asset Management Funds Rated ‘Highly Recommended’ by Independent Researchers
Lazard Asset Management’s flagship Select Australian Equity Fund has retained its ‘highly recommended’ status from independent research house Lonsec, following a recent review. The Lazard Select Australian Equity Fund, which is a high conviction, benchmark unaware Fund, was established in 2002 and has outperformed the S&P/ASX 200 since inception. This Fund was also upgraded to
November 16, 2015
In an uncertain world, Investors must defend the defensive: Western Asset
As the world grapples with an uncertain growth and global interest rate outlook, active and unconstrained strategies are more important than ever for fixed-income investors, according to Western Asset Management. In a new white paper—“Defending the Defensive: Protecting Your Fixed-Income Portfolio in a Low-Yield World”—Western Asset, one of the world’s largest fixed-income managers, urges investment
November 16, 2015
Financial planning’s Uber moment: ten reasons robo advice will change your world
The advent of robo advice is a seismic event in financial services and represents the most significant development in the delivery of financial advice in the past three decades, according to FinaMetrica director Paul Resnik. But far from being harbingers of doom, Resnik says he believes the impact of robos on existing financial planning participants
November 16, 2015
Low-cost financial advice solutions may be more important than ever
The economics of traditional financial advice models are becoming increasingly unsustainable, according to new analysis from consulting firm A.T. Kearney. The research combines in-house and Australian Bureau of Statistics data, and indicates only 20 per cent of households are wealthier now than a decade ago (figure 1). It also shows that only clients in this
November 16, 2015
Life insurers, not advisers, are to blame for high lapse rates: Centrepoint
High rates of life insurance policy lapses and “churning” are largely the fault of product manufacturers, not financial planners, says the head of a large non-aligned dealer group. “The definition of a lapse is still unclear. And the more we’ve looked at this over the last six to 12 months, the more you can see
November 12, 2015
Who’s cutting it, who’s not? Fund managers’ support of planners
The separation of product from advice is a critical tenet of professionalism in financial planning. A profession has to operate independently of product considerations, and independently of the influence of product providers. That much must be obvious to all by now. But influence is not the same thing as support, and product manufacturers have a
November 12, 2015
