All the winners to be revealed in super fund awards tonight
The wait is almost over, as the superannuation industry prepares to gather to recognise its best and brightest at the Chant West|Conexus Financial 2014 Super Fund Awards Evening tonight in Sydney. With the winning fund to be announced by the Prime Minister Tony Abbott, this awards evening is the premier event for recognising excellence in
May 21, 2014
IOOF sweeps up “last-standing quality” financial planning asset in SFG deal
The $670 million acquisition of Shadforth Financial Group (SFG) by IOOF could be one of the last major deals in the round of consolidation that has swept Australia’s financial planning sector in recent years. “SFW [SFG Australia] is the last-standing quality asset in the wealth market, in our view,” according to analysis from Morgan Stanley.
May 19, 2014
What’s going to happen? Funny you should ask me that…
I’m often asked what I think is going to happen. It’s part of my job. My preferred answer in these situations is to say that I don’t know and nor does anyone else because the future is unknowable. It is not really what people, especially investors, want to hear. They don’t want to hear it
May 19, 2014
Why it is time to put differences aside and work for the common good
So far, the FoFA reform process has taken nearly as long as the Second World War. Brad Fox says it’s time for industry players to put their differences aside and work together to achieve the best possible outcomes for everyone. Throughout history there are countless events that exemplify the saying, “United we stand, divided we
May 19, 2014
Financial planning licensees need to boost their levels of self-promotion
Financial planning licensees need to boost their individual profiles, partly in response to the Future of Financial Advice (FoFA) reforms, according to the head of National Australia Bank-owned licensee Meritum Financial Group. Speaking about his own organisation, Stephen Trist, general manager of Meritum, said: “We’re in an environment where there’s other licenses within the bigger
May 16, 2014
Three clear reasons why the time has come to commit to self-regulation
Without wanting to pre-empt the findings of the Senate Standing Committee on Economics’ inquiry into the performance of the Australian Securities and Investments Commission, it’s fair to say that it’s not likely to conclude that ASIC has covered itself in glory – particularly in relation to Commonwealth Financial Planning Ltd (CFPL). So the announcement in
May 16, 2014
Web feature: Best practice for implementing managed accounts
Before introducing managed accounts into client portfolios, there are a number of things that financial planners need to consider. Tim Wedd explains. 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
May 16, 2014
Budget reaction: Financial planning and allied industries respond to Federal Budget 2014
In the wake of the Federal Government’s handing down of Budget 2014, Professional Planner brings you reaction from across the financial planning industry and allied sectors. This page will be updated regularly, so keep an eye on this link as the day unfolds. From independent consulting business StrategySteps: The Government delivered a tough budget that was
May 14, 2014
Financial planners not fleeing banks any time soon: MLC
Shifting consumer dynamics will have a greater impact on the number of bank-owned versus non-institutional financial planning businesses than regulatory reform, according to the head of a leading Australian institutional licensee. James Meade, general manager of Garvan and MLC Financial Planning, agrees the industry is cyclical in the way financial planners shift between institutionally owned
May 14, 2014
Buying or selling a financial planning business, it’s always a challenge
Whether it’s the purchase or sale of a financial planning business, the success of the transaction hinges on several critical areas. Ray Henderson explains. The ageing of the population – including financial advisers and the broader community – is well documented; and the challenges are significant to ensure that the future is bright and indeed prosperous
May 14, 2014
Former Godfrey Pembroke GM to spearhead FPA membership drive
The former head of the National Australia Bank-owned financial planning dealer group Godfrey Pembroke, Tom Reddacliff, has joined the Financial Planning Association of Australia (FPA) as general manager of membership growth and marketing. Reddacliff starts on June 2 with a brief to oversee the FPA’s ongoing drive to professionalise the financial planning industry, and to
May 13, 2014
New way for financial planners to bypass property spruikers
Getting direct property into clients’ investment portfolios has traditionally been a somewhat convoluted and fraught process for financial planners, involving multiple stakeholders and various challenges. One of these was highlighted recently by Fiona Navarro, general manager of Apogee: “We’ve got this issue where, we’ve got a segment of the market that’s property spruiking, and lending
May 12, 2014
