Superannuation Awards deadline draws close
Awards designed to recognise excellence in the superannuation industry should not discriminate between funds based on size, says Conexus Financial Superannuation Awards selection committee member Michael Rice, chief executive of Rice Warner. Nominations for the Conexus Financial Superannuation Awards close on Monday February 16. A short list of entrants will be published in March and the
February 13, 2015
Class delivers accounting automation of foreign assets for SMSFs
In an industry-first, Class has announced that it is delivering foreign asset support for its super and non-super wealth accounting solutions. Class Super is the leading cloud-based SMSF administration software, and Class Investment Reporter provides the same award winning capabilities for non-super investment portfolios. This ground breaking development, which provides accounting automation for foreign equities and foreign currency cash
February 12, 2015
Commbank delivers cash earnings growth of 8% for H1 2015
The Commonwealth Bank of Australia (The Group) statutory net profit after tax (NPAT) for the half year ended 31 December 2014 was $4,535 million, an 8 per cent increase on the prior comparative period. Cash NPAT for the half was $4,623 million, also an increase of 8 per cent. The Board declared an interim dividend
February 11, 2015
Industry collaborates to solve retirement challenge
Lonsec Research, in conjunction with actuarial consulting firm Milliman, has continued to invest in its Lonsec Retire Industry Panel with AMP Capital joining NAB Asset Management, Colonial First State, Macquarie Investment Management, BT Investment Management and Plato Investment Management in helping financial advisers navigate the challenges associated with retirement investment. Lonsec Retire (www.lonsecretire.com.au) is an
February 11, 2015
SPAA flags broader role in SMSF sector, starting with a name change – updated
The SMSF Professionals Association of Australia (SPAA) is positioning itself to take a clearer role in promoting the self-managed super fund (SMSF) sector, starting with a change of name to the SMSF Association (SA). The move is designed to remove potential confusion about what the association does, and to cement its presence in the SMSF
February 11, 2015
Trowbridge report ignores the real problem with life insurance advice
The Life Insurance and Advice Working Group (LIAWG) doesn’t appear to be effectively tackling the issue of conflicted remuneration that dogs life insurance advice, according to Industry Super Australia (ISA). Simply ignoring the merits of fee-for-service life insurance compromises the overall self-regulatory approach endorsed by the LIAWG, says Robbie Campo, deputy chief executive of Industry
February 11, 2015
How the AFA plans to adapt to the coming realm of professionalism
We live in a society and an economy where competition is regarded as a good thing, improving the quality of goods and the standard of services. In the world of professional associations, it’s really no different. Witness the accounting profession, which is well served by multiple associations. If the recommendations of a Parliamentary Joint Committee
February 11, 2015
Tax-saving strategies for account-based pension clients
There are some quirky aspects of the application of the minimum drawdown and related tax rules for account-based pensions which have caused uncertainty, particularly for clients aged from 55 to 59 inclusive. However, recent Australian Taxation Office (ATO) statements appear to remove all but a few of the remaining mysteries. This article examines some interesting tax
February 11, 2015
Reporting season needs close attention
The decision by the Reserve Bank of Australia (RBA) to cut official interest rates last week has fired up sharemarkets, but investors need to play close attention to the reporting season which is underway, said David Bryant, chief executive officer of Australian Unity Investments. “Markets are incredibly volatile at the moment – shares, currencies, oil
February 10, 2015
Guaranteed Products in Australia: A market ready for launch or dead on arrival?
As of December 2014, the value of assets in Australia’s superannuation system totalled $1.87 trillion1. With a population of just over 23 million, this incredible feat – a virtue of introducing compulsory superannuation in 1992, is the envy of many, resulting in accolades and compliments on the advanced state of Australia’s retirement savings industry. However,
February 10, 2015
Topdocs slashes SMSF set up time for Class Super users
Leading document provider Topdocs has released two new integrations with Class Super that will dramatically reduce the time it takes for users to set up their self managed super funds. Topdocs director Michael Spakman says the new integrations mean Class Super users won’t have to manually set up new Funds in Class if they order
February 10, 2015
New bond research company launches – “BondAdviser”
A new fixed income research company called BondAdviser was launched today with the aim of opening up the bond market to a broader range of investors by providing access to independent research and pricing data. Offered through a central online portal, BondAdviser covers all ASX-listed interest rate securities and a large range of over-the-counter (OTC)
February 09, 2015
