Avoid investment bandwagons if you don’t know where they’re going
Emerging markets represent 13 per cent of the value of the world’s stock markets today and a third of global economic output. That compares with just 1 per cent of market capitalisation and 18 per cent of global GDP 30 years ago. The developing world is no longer a niche interest for adventurous investors –
February 25, 2014
Sending out fee disclosure statements on December 19 was not a waste of time
They say in business, timing is everything. Rob Ferguson explains that when you get the timing completely wrong, that saying really hurts. For a variety of reasons, we decided to send out a significant batch of our fee disclosure statements (FDSs) on December 19, 2013. As many would appreciate, the preparation and execution was costly
February 25, 2014
Treasury invites input on how to deregulate SMSF sector
Treasury has invited the self-managed superannuation fund (SMSF) industry to provide views and ideas on reducing the regulation of the sector, as part of the government’s philosophy of reducing the regulatory burden on business. Rob Heferen, executive director of the Australian Treasury revenue group told the 2014 SPAA SMSF National Conference that “the broad philosophy
February 23, 2014
It’s financial product advice, not property, that worries ASIC
ASIC commissioner Greg Tanzer says ASIC has “no particular problem” with SMSFs investing in real property but it is concerned that advice to invest in property is being improperly provided to trustees. “People provide a financial service if they provide financial product advice,” Tanzer told the 2014 SPAA SMSF National Conference in Brisbane. Financial product
February 23, 2014
Pick me! Pick me! How pitching properly can be a financial planner’s greatest skill
Learning how to connect and engage with clients and potential clients is a crucial weapon in the financial planner’s armory that is too often overlooked in favour of technical skills and compliance issues. Andrew Klein, MC of the 2014 SPAA SMSF National Conference and director of presentation skills at Spike Presentations, says whether it’s a
February 23, 2014
Helping financial planners get to the bottom of what women want
Financial planners need to boost women’s confidence in finance and investing in order to harness the growing clout of females when it comes to money. Financial services executive, Patricia Curtin, told a “Women want more!” session at the 2014 SPAA SMSF National Conference in Brisbane that the role of women in financial affairs is growing,
February 23, 2014
Changes to licensing regime a ‘perfect storm’ for accountants
Accountants are in the box seat to capture a significant part of a newly emerging “advice space” being driven by legislative changes affecting both financial planners and accountants, according to Kath Bowler, director of Kath Bowler Consulting. Bowler said accountants are being forced from one direction by the end of the so-called accountants’ licensing exemption in 2016, and financial planners are being forced from the other direction
February 20, 2014
Mason calls for promotion of trust and confidence
The patron of the SMSF Professionals’ Association of Australia (SPAA), Sir Anthony Mason, has called on all participants in the financial services industry to promote trust and confidence in the industry by placing a commitment to professional standards above all. Opening the 2014 SPAA SMSF National Conference in Brisbane, Sir Anthony also said the likely effects of amendments to the Future of Financial Advice (FoFA) legislation had
February 20, 2014
Sinodinos ‘happy to have a look’ at limited licensing for SPAA members
The Assistant Treasurer, Senator Arthur Sinodinos, has committed to examining whether the limited licensing regime can be extended to members of the SMSF Professionals’ Association of Australia (SPAA). The chief executive officer of SPAA, Andrea Slattery said SPAA has “specialist members who are seen and are known to have extended themselves beyond that which is expected by the government, and the minimum standard”. “The opportunity for
February 20, 2014
Six steps to doing a better job than a pigeon, a rat or a monkey
Six years based in the US as Russell Investments’ chief investment officer has taught Pete Gunning that advisers to self-managed super funds could do worse than heed six lessons he has learned. Gunning, who is now Russell’s Asia-Pacific chief executive officer, told the 2014 SMSF Professionals’ Association of Australia (SPAA) SMSF National Conference in Brisbane
February 20, 2014
SMSF Specialist Auditor accreditation gets RG146 recognition
A significant frustration for SPAA members has been overcome after the association secured RG146 recognition of its SSA accreditation. SPAA’s Head of Education, Liz Ward, announced at the Pathways to Accreditation session, that those who have completed SSA can now say it satisfies the RG146 minimum training standards for providing financial advice. Ward said members
February 20, 2014
Lack of competence, professionalism a ‘real risk’ in SMSF advice
Advisers to self-managed super fund (SMSF) trustees must demonstrate independence in the advice and services they offer, and focus on value-added strategic advice rather than sales or transactions, according to new research. The SMSF Professionals’ Association of Australia (SPAA)/Russell Investments Intimate With Self-Managed Super research, released yesterday, reveals a ongoing shift in SMSF trustee demographics,
February 18, 2014
