Super satisfaction bounces back
Australians are more satisfied with their superannuation fund now than at any point since December 2008. According to the latest Mercer Superannuation Sentiment Index, increased member satisfaction, reduced levels of concern about share market volatility and more realistic expectations of future superannuation balances drove a nine-point increase in the overall “sentiment score”, between December 2010 and September 2011.
December 13, 2011
Video snapshot: Dealer Group Summit
Professional Planner Online asked presenters, panelists and delegates to reflect on another successful Professional Planner Dealer Group Summit and the issues discussed.
December 08, 2011
Government to revisit lending caps
The National Financial Services Federation (NFSF) says it is ready to work with the Government and other interested parties to formulate improved regulation of short-term lending. In its report, the Parliamentary Joint Committee on Corporations and Financial Services recommended that the Government revisit key aspects of its proposed reforms, including the proposed cap on small amount credit contracts, which the Committee says appears to be unworkable.
December 06, 2011
AMP dumps Mercer for Towers Watson
After eight years advising the $19 billion Future Directions and Responsible Investment Leaders multi-manager products, Mercer’s asset consulting agreement has not been renewed with AMP. Towers Watson will be the new consultant across the range of AMP’s multi-manager products.
December 01, 2011
PJC revises FoFA review timetable
The Parliamentary Joint Committee (PJC) on Corporations and Financial Services has revised the timetable for its review of the Future of Financial Advice (FoFA) legislation. Tranche One of the FoFA legislation - the Corporations Amendment (Future of Financial Advice) Bill 2011 - was referred to the PJC on October 13, and Tranche 2 - the Corporations Amendment (Further Future of Financial Advice Measures) Bill 2011 - was referred on November 24.
November 29, 2011
Watchdog warning to gatekeepers
A Melbourne-based company has had its Australian financial services (AFS) licence cancelled by ASIC after it failed to meet its obligations. The action to cancel FPIP’s AFS licence is part of ASIC’s focus to improve the standards of gatekeepers, specifically the obligations of financial services licensees to monitor authorised representatives and ensure adequate compliance measures are in place to address licence obligations.
November 24, 2011
Centric puts faith in Wallaby legend
For years Phil Kearns was an integral part of the Australian rugby team, with his career bookended by World Cup successes in 1991 and 1999, but now a new challenge awaits the ex-Wallaby captain as chief executive of Centric Wealth.
November 22, 2011
FPA Conference: video wrap-up
The Financial Planning Association of Australia (FPA) National Conference 2011 tackled the big issues while also taking the time to acknowledge the next generation of financial planners. FPA chief executive Mark Rantall
November 22, 2011
Abbott won’t rescind 12% superannuation
Tony Abbott will not rescind 12 per cent compulsory superannuation if it is passed by parliament. Abbott spoke at a Financial Services Council breakfast in Sydney Craig Meller, managing director of AMP Financial Services, introduced Abbott at the the breakfast .,” says Abbott
November 18, 2011
Advisers get satisfaction but may jump ship anyway
Australian financial planners are generally happy with their insurance providers but have no qualms about switching to competitors if they experience poor support or service.
November 11, 2011
Court to question Hobson’s choice
A former Sydney-based financial adviser faced a Sydney court this week charged with fraud following an ASIC investigation.
November 10, 2011
Super funds consider advice options
The expansion of scaled advice is not necessarily a threat to the broad-based financial advice offered by financial planners, according to Jo-Anne Bloch, partner and financial advice leader at Mercer.
November 10, 2011
