BetaShares expands team, on track to hit $2bn in FUM in Q1
BetaShares, a leading Australian ETF issuer, today announced the appointment of Debbie Bennett to the role of Chief Operating Officer. Ms Bennett brings with her extensive experience in financial services, most recently as Technical Sales Manager at CitiCorp. She has also held senior management positions at RBC Investor Services and J.P. Morgan. In addition, BetaShares
January 15, 2015
Life insurance risk market Inflows up 12.9% over the year from $12.4bn to $14.0bn
Risk Premium Inflows increased 12.9% year on year. MetLife (105.1%), AIA Australia (28.6%), TAL (24.9%) and BT / Westpac (16.7%) recorded the highest percentage growth rates. Overall annual Sales in the Risk market jumped 19.7%. Again MetLife (389.1%), AIA (53.1%), TAL (50.8%) and BT / Westpac (9.6%) achieved the best results while CommInsure (-10.9%) reported
January 14, 2015
PJC report may cause a ‘shuffling of deck chairs’ among planning associations
Some financial planning industry associations may find themselves excluded from a revised co-regulatory framework alluded to in the Parliamentary Joint Committee report handed down at the end of last year. This would be underpinned by the Financial Planning Education Council (FPEC) and the Professional Standards Council (PSC). The PSC would have to endorse any professional
January 14, 2015
An elegant approach to self regulation that also addresses PI insurance issues
The Parliamentary Joint Committee report on lifting standards in financial planning came out on the afternoon of December 19, at almost the precise moment Professional Planner closed its offices for a break. Not being in a fit state to read (or perhaps comprehend) the report prior to Christmas, and not wishing to put a marriage
January 14, 2015
The Australian sharemarket in 2014: winners and losers
If over the years I had banked a dollar every time someone told me that Australian shares were a sure bet to outperform global shares, I would be able to retire much earlier. While it’s true Australian shares have outperformed global shares in many years, in 2014 our Australian share market’s was relatively modest compared
January 14, 2015
ETFs/ETPs end 2014 gathering $US338.3 billion, a record level of net new assets
ETFGI’s research finds 2014 was a very good year for the global ETF/ETP industry. The global ETF/ETP industry has reached a new record level of US$2.79 trillion in assets invested in 5,580 ETFs/ETPs, with 10,770 listings, from 239 providers listed on 62 exchanges in 49 countries. We expect the assets to break through the US$3
January 12, 2015
Financial planners are 50 years behind accountants in education standards
Financial planners still lag decades behind accountants in terms of educational requirements for those who practice within the two sectors, according to the head of one of Australia’s largest financial planning university programs. Only an Australian Qualification Framework (AQF) 5 level of education is required to practice as a financial planner here, while accountants need
January 12, 2015
Australian Defence Force wades into the financial planning debate
During 2015 there will be an interesting real-world test happening in the financial planning profession. It focuses on how effectively financial planning businesses can deliver genuinely non-conflicted advice, irrespective of structure or licensee ownership. The test is being run by a seemingly unlikely entity: the Australian Defence Force (ADF). The ADF becomes a far move
January 12, 2015
Does robo-advice spell the end of the human adviser?
Advisers who attended the 2014 AFA National Conference could be forgiven for thinking – where does my future lie? ‘Robo-Advice’ was vigorously debated with some predicting the demise of face-to-face financial advice over the next 10-20 years. Is this a reality? The simple answer is – nobody really knows. What we do know is we
January 12, 2015
Global equity unconstrained opens to overseas investors
Global fund manager, Standard Life Investments has announced the launch of a Global Equity Unconstrained SICAV – a fund which mirrors the existing OEIC offering which launched in January 2007. The move widens the accessibility of Standard Life Investments’ global equity capability1 for international investors and uses the company’s successful unconstrained equity proposition2. The launch
January 09, 2015
Centrepoint head says independence, profitability are mutually exclusive
Asset-based fees are unavoidable if financial planning practices are to maintain a sustainable level of profitability, according to the head of a non-aligned dealer group. “As a licensee, I think it’s almost impossible to operate sustainably without product margins. That’s just the way [Future of Financial Advice] FoFA and the institutions have forced the game,”
January 09, 2015
What is the right price for financial advice?
The right price for financial advice, investment management and administration is somewhere between 1.25 and 1.4 per cent, according to financial adviser Ken Bloomfield. While there’s no industry consensus on what constitutes a fair price for comprehensive advice, Bloomfield is adamant that sophisticated clients with between $500,000 and $1 million under advice should pay no
January 09, 2015
