The debate over remuneration, risk advice and regulation may really be about value
Though few would admit it, many financial planners are uncertain about the value they bring to clients, according to the head of Perth-based practice Black Swan Event Financial Planning. “The constant challenge for everybody, in every sort of business, is to give value for money. All the arguments about price and everything else [in the
June 11, 2015
Licensees have a central role to play even as financial planning eyes self regulation
As the financial planning industry inches towards the status of profession and the self regulation needed to achieve that, the Professional Planner Dealer Group Summit, held last week, has heard that the role of financial planning licensees will remain central, but that it will have to evolve. In a session debriefing a series of earlier
June 11, 2015
MLC Private Equity to open New York office
MLC Private Equity today announced plans to open a New York office to be headed by former LGT Capital Partner, Mr Andrew Kwee. Mr Kwee, who has two decades of experience in private equity, will establish the office and build a team to capitalise on investment opportunities in North America and Latin America. Head of
June 11, 2015
Australian Unity completes capital raising for new Retirement Village Development Fund
Australian Unity has completed a capital raising for its new Retirement Village Development Fund, with construction of a new $65 million retirement village commencing in late May 2015. Australian Unity worked with Hume Partners to create a tailored investment vehicle to finance the development. The Fund is the first of its kind in
June 10, 2015
CommBank apps for smartwatches now available for customers
Commonwealth Bank today released its CommBank app for smartwatches (see note 1). CommSec has also introduced an app for the Apple Watch adding to its suite of mobile and online trading options. According to Paul Rayson, Executive General Manager, CommSec, the new smartwatch app is meeting the evolving needs of CommSec customers to deliver a
June 10, 2015
Yellow Brick Road offers itself as financial planning guru to the 80 per cent disengaged
Wealth management business Yellow Brick Road will launch today a new online modelling tool it claims will turn the financial planning process on its head, handing “power and control” directly to consumers. The firm is also hiring what it calls “money coaches” – individuals who are not necessarily qualified financial planners – to help guide
June 10, 2015
Licensees zero in on businesses evolution, value propositions and the role of financial planners
The current pace of regulatory change will undoubtedly force some advisers out of the business, but that is not necessarily a bad thing if it allows advice offerings to evolve and expands the role of the financial planner, the Professional Planner Dealer Group Summit has heard. Of more concern to the dealer groups and licensees
June 09, 2015
Memberships with benefits: Banking on the financial planning profession
At the end of January this year, BOQ Specialist, which provides targeted banking solutions to niche professional markets, announced it had formed a partnership with the Association of Financial Advisers (AFA) to become the preferred financial services provider to AFA members. BOQ Specialist is a division of Bank of Queensland. AFA Practitioner members have access
June 09, 2015
$45.3bn growth in retail managed funds during March Quarter 2015
Overall Retail Managed Funds ended the year to March up 14.4% to total $742.7bn. During the March quarter alone funds jumped another 6.5% on the back of continued strong performance on the Australian sharemarket which climbed almost 9%; however high levels of market volatility has subsequently resulted in much of this outperformance being reversed. Most
June 09, 2015
Dismantling imputation system could be detrimental to economy
The Centre for International Finance and Regulation (CIFR) has released two pieces of research which find dismantling the imputation system could have detrimental effects for both shareholders and the Australian economy. The first paper is authored by Andrew Ainsworth and Graham Partington of University of Sydney, along with CIFR Research Director, Geoff Warren. It finds
June 09, 2015
Emerging market risks heating up
Standard Life Investments, the global investment manager, has found that the risk profiles of emerging economies have changed considerably in the past six months. Countries such as Mexico and India generally look safer now, while conditions in already risky countries like Brazil and Malaysia have deteriorated further. The largest reduction in vulnerability was in Ukraine
June 09, 2015
BetaShares May Australian ETF Review: New product boom and fresh industry record high
The Australian exchange traded fund industry reached a new record high of $18.6 billion in funds under management in its sixteenth straight month of positive growth, according to the BetaShares Australian ETF Review – May 2015. The market grew by $900 million over the month, with approximately 60% of growth coming from market movements and
June 09, 2015
