Why emerging markets matter
Much of the stress in the global economy right now is concentrated in emerging markets. There are many reasons why this matters to investors. Measured at purchasing power parity, the advanced economies now only account for 43% of global GDP, down from 54% in 2004. The share of emerging markets is lower when calculated using
September 23, 2015
Are Australians becoming ‘Money Dumb’?
Australians are being urged to brush up on their money know-how after new statistics from the annual Money Savvy Challenge, by one of Australia’s biggest comparison sites finder.com.au1, reveal our national average is slipping significantly. The 15-question challenge, now in its second year, is raising money for charities based on the number of correct answers
September 23, 2015
Who is the real hero in your licensee’s story of financial planning?
When CoreData first started measuring the performance of Australia’s financial planning licensees in 2001 there was a broad belief that businesses operating independently would soon be gone. The consensus was that they would be crushed by the scale of the bank- and life insurance-backed channels that would use resources to pay, support and train planners
September 23, 2015
Wealthsure Pty Ltd enters voluntary administration as PI claims mount
Wealthsure Pty Ltd (WPL) has been placed into voluntary administration, with control of the company passing to Melsom Robson Chartered Accountants as of Monday September 21. WPL is a separate entity to Wealthsure Financial Services (WFS), which was acquired by Sentry Group in April 30 this year. Prior to this, the two Wealthsure Group entities
September 23, 2015
FPA has an idea worth spreading and breaks from convention with congress keynotes
The Financial Planning Association 2015 Professionals Congress will break from convention this year with two keynote sessions restructured to reflect the hugely popular TED Talk format. The keynote sessions will each feature three leaders from business and the professions along with financial planning practitioners to provide insights into the issues that will shape the direction of
September 23, 2015
Combined ministerial responsibilities puts spotlight on competing regulatory priorities
One of the more interesting moves in the new Turnbull government is the appointment of Kelly O’Dwyer as both Assistant Treasurer and Minister for Small Business. The Treasury and small business portfolios overlap in financial planning, and sometimes reveal competing priorities. A very significant number of financial planning practices are small businesses which might expect
September 21, 2015
Done in 60 seconds: new licensing app for accountants
Accountants can accurately determine the appropriate licensing solution for them in just 60 seconds with the launch of an innovative, free online app. The web-based application has been developed by independently-owned financial planning and accounting group GPS Wealth to help accountants better understand their licensing needs and requirements under the government’s new regulatory framework, effective
September 21, 2015
Australian Unity Personal Financial Services launches ‘practice scorecard’ for its advisers
Australian Unity Personal Financial Services has created a practice scorecard which provides advisers with a concise summary of their key business metrics. Mr Paul Harding-Davis, General Manager Advice of Australian Unity Personal Financial Services, said the scorecard also provides benchmarking across a number of peer groupings so each practice principal can easily see areas in
September 21, 2015
Emerging markets returns not for the faint hearted, says Lonsec
Brave-hearted investors can still expect reasonable returns from emerging markets investment but should adopt a measured long term approach and be prepared for periodic selloffs, according to a new report from research house Lonsec. Lonsec today released its annual Global Emerging Markets and Regional Equities Sector Review which showed that for the first time since
September 21, 2015
No one knows everything: Why Eqeus called in the experts to help reach the ‘flirting with 40s’
Smart people know what they don’t know. It’s partly because of the very simple fact that no one can know everything; but it’s also a characteristic of people who are very good at what they do that they recognise their own limitations. After 30 years in the business, it might be tempting to think they there isn’t much
September 18, 2015
Emerging business models illustrate the paradox of FoFA reforms
Love them or loathe them, the FoFA reforms certainly present a paradox. On the one hand, they strive to put client’s interests first and have brought important changes to our industry as a result. These include the introduction of best interest duties and client engagement measures such as FDS and opt-in. They have also resulted
September 18, 2015
The life insurance clawback battle has begun
A three-year clawback was proposed in the Life Insurance Framework (LIF) developed by the Association of Financial Advisers (AFA), the Financial Planning Association (FPA) and the Financial Services Council (FSC). Since Assistant Treasurer Josh Frydenberg endorsed the LIF, the AFA has been campaigning for greater clarity around what constitutes a legitimate replacement policy and what is
September 18, 2015
