Leading consultants reveal the secrets to practices made perfect
Professional Planner and MLC brought together some of the industry’s leading consultants to identify the steps that all financial planning business owners can take right now to create businesses that will thrive and prosper regardless of the regulatory and industry challenges they may be facing. PARTICIPANTS: Rod Bertino, principal, Business Health; Andrew Inwood, principal, CoreData Market Research; Tony McDonald, co-founder and
April 14, 2014
Professional Planner in Shanghai.
What could possibly go wrong?
The 2014 Shanghai Professional Investment Services Conference kicked off on Monday, as more than 180 PIS planners, accountants and support staff gathered in Shanghai, a city with a population roughly equal to the whole of Australia. PIS’s 18th annual conference spans five days and is focused on helping advisers improve business performance and deliver high-quality
April 14, 2014
ASIC, Commonwealth Financial Planning under scrutiny at Senate inquiry
The extent and speed of the Australian Security and Investments Commission’s (ASIC) investigation into Commonwealth Financial Planning (CFPL) was questioned yesterday during the Senate Economic Reference Committee’s inquiry into the regulator. “How deep did they probe?” asked committee member Senator David Fawcett, in relation to the regulator’s investigation into forgery and fraud allegations directed at
April 11, 2014
General advice an important link in the financial planning chain: NAB
General advice provides an important entry point for Australians who can’t necessarily afford personal financial advice, according to John Flavell, executive general manager of wealth advice for National Australia Bank. Asked about his views on the payment of commissions for general advice, Flavell says that “in terms of how we reward our people…part of the
April 11, 2014
Financial planners harness the tools of the trade
Investment tools that were once the domain of institutional fund managers are now readily available to financial planners, giving them the opportunity to be more involved in the investment process. Tim Bradbury explains. One of the recent (and common) themes in the investment marketplace revolves around the perceived uncertainty of market directions – globally and
April 11, 2014
Financial planners’ unpaid FOS penalties exceed $7.6 million
Financial service providers (FSPs) that have been subject to an adverse finding by the Financial Ombudsman Service (FOS) since January 2010 have outstanding compensation payments of more than $8.3 million, with clients facing an uphill battle to be paid what they are owed. Financial services providers (FSPs) whose primary business is financial advice owe wronged
April 09, 2014
Revealed: all the Chant West|Conexus Financial 2014 Super Fund Award finalists
Chant West, in partnership with Conexus Financial, will present its second annual superannuation and pension awards on May 21. The winners will be announced at a black-tie function at the Ivy Ballroom, Sydney, co- hosted by Conexus Financial, publisher of Professional Planner and Investment Magazine. Once again, Chant West will take its deep industry knowledge
April 08, 2014
New program allows financial planners to shed C- and D-class clients
The vexing question of how to handle so-called C- and D-class clients has a new solution with the development of a program by DeltaPlan Financial Services. The program invites financial planning businesses to “sell” their lower-value clients to DeltaPlan in return for a 50 per cent share in the future revenue that DeltaPlan generates from
April 07, 2014
Ageing boomers highlight estate planning opportunity for financial planners
The unprecedented inter-generational transfer of wealth looming for Australia, driven by a huge baby-boomer demographic that holds a significant proportion of the nation’s assets, highlights the importance of estate planning like never before. However, it’s an area that individuals often overlook, with some 45 per cent of Australians not having a Will, according to recent
April 07, 2014
As India goes to the polls, is it poised to emerge from the shadows?
India has fallen from investors’ minds over the past few years as attention has focused on the other Asian giants, China and Japan. Expect that to change in the next few weeks as election fever comes to the boil in the world’s largest democracy. Indians love elections as anyone who has been caught up in
April 07, 2014
AFA highlights role of financial planners in salvaging direct life sales
The underwriting terms of some direct life insurance products could be damaging the reputation of the broader life insurance sector, says the head of the Association of Financial Advisers (AFA). The chief executive officer of the AFA, Brad Fox, says when consumers suffer a poor experience with direct-sold insurance products it is often financial planners
April 04, 2014
