High-quality professional advice aligns the service with the fee, not the product
The opportunities for self-managed super fund (SMSF) specialists have never been greater. That’s the only conclusion that can be drawn from the latest research by SPAA and Russell Investments. The fourth annual Intimate with Self-Managed Superannuation report shows that despite a softening in net SMSF establishments in 2013, the sector continues to enjoy solid growth,
May 28, 2014
Cbus, FPA financial advice partnership set to go national
Industry superannuation fund Cbus is planning a national roll-out of its financial advice partnership with the Financial Planning Association of Australia (FPA). The program currently remains in its pilot phase after being implemented in a limited capacity from January this year, as reported by Professional Planner: FPA to advise Cbus members. It will soon be available
May 26, 2014
Why membership matters, but membership structure matters even more
The question of which association you belong to might be about to get a whole lot more important. Is the one you belong to a “first-level” professional association, comparable the Law Society, the Australian Medical Association (AMA), the Institute of Actuaries or the Australian Veterinary Association? If the start of the Senate Economics Legislation Committee
May 26, 2014
More twists than an Agatha Christie novel, but this story deserves a good ending
The delay to the implementation of the FoFA amendments provides a welcome opportunity to pause and reflect. But Mark Rantall says that now it’s time to finalise the details once and for all. Australia’s Future of Financial Advice (FoFA) reform process has absorbed many hundreds of hours over several years, involving all sides of politics; the efforts
May 26, 2014
Meridien Wealth taking first steps on road to recovery from Commonwealth FP fallout
Before purchasing financial planning business Meridien Wealth in June 2012, managing director David Adiseshan was assured by the previous owner that the company was a “going advice concern”. Little did he know it would be implicated in a potential class action of up to $200 million by some 3000 investors in Commonwealth Bank of Australia
May 23, 2014
Key groups stake their claims in Future of Financial Advice amendments inquiry
Five key gaps remain in the regulatory framework for financial planners in Australia, according to the Financial Planning Association of Australia (FPA) white paper, The Future Profession, released yesterday. The paper was released following the FPA’s appearance at the Senate Standing Committee on Economics inquiry into the Corporations Amendment (Streamlining of Future of Financial Advice)
May 23, 2014
What if the sharemarket threw a party and nobody came?
Has a stock-market high ever been greeted with such indifference? The S&P 500 Index topped 1,900 last week while the FTSE 100 hit a 14-year record. Investors should be celebrating but in the main they’re looking nervously over their shoulders. What’s going on? The first hint that something might not be quite right is the
May 23, 2014
Balancing the use of discretion when implementing managed accounts
Financial planners wanting to operate managed accounts for their clients need to ensure their businesses are ready for, and aware of, the trade-offs involved, in order to meet growing client demand for investment control and flexibility. Some key questions you need to ask yourself revolve around effectively implementing discretion within client portfolios and determining how
May 23, 2014
Revealed: the 2014 super fund of the year
The winners of the Chant West | Conexus Financial Super Fund Awards were announced last night in a ceremony at Ivy Ballroom in Sydney, with more than 300 guests in attendance. Awards were handed out across 10 categories, with the night’s biggest award going to REST for Super Fund of the Year, which was presented
May 21, 2014
Exclusive To all professional financial planners: step forward and be counted
The chairman of the Financial Planning Association, Matthew Rowe, says the profession has reached a tipping point. It is time to stop talking about change, and to do what is required to make the change happen. Four years and four ministers later, Australia’s financial planning profession remains burdened by the deadweight politics of FoFA. The
May 21, 2014
Why the next 30 days could completely redefine your future
The next month or so will be critical for the future of financial planning, for the development of financial planning as a profession in Australia and, by extension, for the interests of all Australians. As various interest groups prowl the corridors of Canberra, presenting their respective cases and lobbying lawmakers and bureaucrats, no less than
May 21, 2014
Going direct: Do you have what it takes?
Around 27 per cent of new inflows are now invested in listed equities and property, up from 19 per cent in 2012, according to a new report by Investment Trends. Advisers expect that number will hit 33 per cent by 2017. While advisers are comfortable using managed funds for exposure to international equities and alternative
May 21, 2014
