Investment property for SMSFs requires caution
Too often property investors haven’t done their homework before they buy, according to Wealth Know How’s General Manager Fiona Parker. “You have to know the compliance rules particularly if you are making a property investment for your SMSF,” said Ms Parker. “And our videos are designed to help you understand your options.” “Being able to
April 28, 2015
Adapt or die – financial services facing a digital tsunami
The financial planning industry, both globally and within Australia, is destined for extinction if it does not develop practical solutions to the impending digital tsunami, according to a White Paper released publicly today by the PHAROS/Madison Group. The White Paper, entitled Adapt or Die, The Impending Digital Tsunami, argues that financial advice practices that do
April 28, 2015
Conservative Aussies are missing global opportunities
Australians are vastly more conservative investors than their global counterparts, and may be missing out on key opportunities to improve returns, according to Legg Mason’s 2015 Global Investment Survey. The survey, which looked at the attitudes of over 4,200 affluent investors in 20 key markets, found Australian investors were particularly conservative and unwilling to take
April 27, 2015
The ‘Volkswagen of financial services’ revs up as Findex drives efficiency gains from acquisitions
It was the former French president Charles de Gaulle who is reported to have asked: “How can anyone govern a country that has 246 different kinds of cheese?” Governing any entity – a nation or a corporation – that is so disparate and diverse is a challenging proposition, and it’s the kind of situation facing
April 27, 2015
An insider’s perspective on the Trowbridge process and its next steps
The sole financial planning practitioner involved in the Trowbridge review of life insurance advice has given some insight into the process and what happens next. Jeff Thurecht is a director of Evalesco Financial Services, a Centrepoint-licensed practice and also NSW and ACT state direct of the Association of Financial Advisers (AFA). Particularly during the latter
April 27, 2015
Financial planning industry leaders to gather to address biggest issues facing the profession
Following calls by the Association of Financial Advisers for financial planners and licensees to “make their own moves” to address recent concerns raised by regulators and policymakers, the heads of leading financial planning dealer groups and licensees are set to gather in June to grapple with a range factors that will shape the future of the financial
April 27, 2015
Van Eck Global strengthens business development team
Van Eck Global today announced a new appointment to its Australian business development team to help increase its retail presence and support the distribution of its Market Vectors exchange traded funds. Damon Gosen brings more than 12 years’ financial services experience to his new position as Vice President – Business Development. Based in Melbourne, he
April 24, 2015
Embattled bank’s financial planning operation will report all adviser departures
All financial planners who exit National Australia Bank Wealth (NAB Wealth), and the reasons for their departure, will be reported directly to the regulator – a first for the sector – according to the head of the bank’s wealth operation. The measure is aimed at weeding out ‘bad apples’ from the overall sector, exceeding the
April 24, 2015
‘Paedophile priests’ comparison sums up depth of frustration with financial planning
Nationals senator John Williams might have overstepped the mark during a senate hearing this week when he likened rogue financial planners to paedophile priests, but the strength of the Senator’s language is a fair indicator of the level of frustration that policymakers currently feel towards the financial planning industry and the institutions that operate in it. The Senate Economics References
April 24, 2015
Lonsec Research launches interactive technology tool
Financial advisers now have access to a new interactive smart technology to help identify and model individual goals and outcomes for clients. Lonsec Research has launched its Goals-Based Analysis (GBA) tool, the first of a new wave of actuarial backed modelling tools that allows financial advisers to analyse different investment strategies based on the client’s
April 23, 2015
ACSA releases latest custody industry data
The Australian custodial and administration sector continued its steady growth trajectory in the second half of 2014, with total assets under custody exceeding $2.5 trillion, according to the latest industry statistics released by the Australian Custodial Services Association (ACSA). In the six months to 31st December 2014, total assets under custody for Australian investors grew
April 22, 2015
FSC goes public with Trowbridge submission, releases submission to FSI
The Financial Services Council has publicly released its controversial submission to the Trowbridge inquiry into retail life insurance advice, by including it as an appendix to its full submission to the Financial System Inquiry (FSI). The FSC’s submission to the Life Insurance and advice Working Group (LIAWG) was initially confidential, but pressure had been mounting for the
April 22, 2015
