Simple steps can save a lot of money for financial planners seeking PI insurance
Simple steps taken to document processes and business history can significantly improve an independent financial advice (IFA) firm’s ability to obtain the most appropriate and cost-effective professional indemnity (PI) insurance. Oscar Martinis, a senior partner in the insurance broking firm McDougall Kelly & Martinis, says arranging PI cover effectively requires effective communication with underwriters. “When
December 10, 2015
Financial planning would be well served by dedication to the professional ideal
Sir Anthony Mason, a former Chief Justice of the High Court of Australia, says he has no doubt that financial planners ought to aspire to professional status. Mason, who is also the patron of the SMSF Association, says some occupations have sought to organise themselves as professions and have often been motivated to do so
December 10, 2015
UniSuper unveils an innovative CIPR
UniSuper, the $50 billion superannuation fund for the higher education and research sector, has unveiled plans to launch an innovative, integrated Comprehensive Income Product for Retirement (CIPR). The flagship super and pension solution, called FlexiChoice, will be an innovative lifetime retirement income solution, unique in the Australian market. It will address key retirement issues around
December 09, 2015
Fincast application designed to democratise access to institutional fund management capability
Today, Australian-owned Financial Technology (Fintech) company, Fincast, launched its first application designed to democratise access to institutional fund management capability. The application is the first of its kind in the market. Chelsea Dunne, Co-Founder of Fincast, who is also a strong advocate for encouraging more women into the Fintech industry said, “the launch of our
December 09, 2015
Keeping the Kidman Station in Australian hands
Mum and Dad investors could get the opportunity to become part-owners of one of Australia’s agricultural icons, Kidman Station, via a radical proposal to open up the sale to crowd-funding. Crowd-funding has typically been associated with retail and commercial property, but this proposal, the brainchild of seventh generation pastoralist Stephen Burgin and crowd-funder DomaCom, would
December 09, 2015
One code of ethics to unite them all – and why the government should resist diluting existing standards
Treasury estimates that the cost of compliance with new ethical, professional and education standards for financial planners will exceed $165 million. This seems like a lot of money when much of what needs to be done has already been done. How it arrived at this figure isn’t clear, but on the face of it, it
December 09, 2015
Saving, budgeting and cashflow management lead to improved client outcomes, risk-free
Advisers who want to make a real difference in their clients’ lives can’t rely solely on something as unreliable and volatile as investment performance, especially in the prevailing low growth, lower return environment. Investment management and strategic asset allocation may add an additional 1 or 2 per cent to a portfolio’s performance over time, which
December 09, 2015
Giving thanks for a shift in the spending patterns of the all-important US consumer
Perhaps we should blame FDR. Lobbying by retailers persuaded the US president to shift Thanksgiving forward a week in 1939 so that the new breed of US consumer could fit in another week of spending before Christmas. He may well have been appalled if he’d lived to see the orgy of consumption that his decision
December 09, 2015
Class Ltd successfully closes IPO offer
Class Limited successfully closed its IPO offer on Friday 4 December, with a total of approximately $25 million allocated to new investors under the CTC (Customers) and General offers. Barry Lambert, Chairman of Class, comments: “After 10 years spent building a strong and profitable company, it’s gratifying to announce a successful IPO. “On behalf of
December 07, 2015
Atrium achieves $1 billion FUM milestone, pegging solid investor returns with lower volatility
An investment approach that ignores market noise and avoids investment herds has helped Atrium Investment Management (Atrium) reach its rst billion dollars in funds under management, while delivering solid investment gains coupled with minimal volatility. Atrium Chief Executive Of cer, Alex Hone said the $1 billion milestone was a pleasing rst step in a long-term
December 07, 2015
Australia’s leading financial planner calls for abolition of vertical integration
The 2015 Financial Planning Association (FPA) Certified Financial Planner (CFP) Professional of the Year says vertical integration must be abolished so the financial planning industry can truly put its clients’ best interests first. VISIS Private Wealth founding partner Christopher Smith says a higher minimum requirement for education must make it more difficult for individuals to become
December 06, 2015
Will robo advice spell an end to your job as you know it?
In their quest to find clients, we see robo-advisers as being as disruptive to the financial services sector as Uber is being to public transport. Uber is a great example of something that was made possible by the internet. Without the net, Uber simply could not be. And yet, the internet alone did not change
December 06, 2015
