Insync’s international fund increased its current levels of protection to over 80%
Insync’s Global Titans Fund has for a while maintained a high level of protection that benefits unit holders in the event the market volatility significantly increases to the downside. The level of protection has been increased as markets have become more extended. This has been demonstrated on two previous occasions when the fund generated positive
February 17, 2015
Macquarie culls a quarter of its financial planners during ASIC enforcement
Macquarie Private Wealth (MPW) has culled around a quarter of its financial planners in the last two years, according to Peter Kell, deputy chairman of the Australian Securities and Investments Commission. The investment bank employed 600 financial advisers in 2012, but this number has now fallen by 25 per cent – and possibly further, if
February 16, 2015
Here we go again: no-commission insurance debate covers some familiar ground
Let’s take a step back for a moment and consider a debate that has erupted in the past week on the issue of no-commission life insurance. To recap briefly (and to get the acronyms out of the way early), the Financial Services Council (FSC) and the Association of Financial Advisers (AFA) formed the Life Insurance
February 16, 2015
Extraordinary circumstances and a drastic impact: how to avoid a perfect storm
As a result of the global financial crisis (GFC) and the collapse of numerous investment schemes, many financial advisers have been exposed to a perfect storm: extraordinary circumstances combining with a drastic impact on advisers and their clients. The following advice situation involves the confluence of three sets of circumstances producing substantial capital losses for
February 16, 2015
IN FOCUS: Doing it in style – a global approach to finding value in equities
Cast your mind back to 1980. Australia’s Alan Jones was crowned Formula 1 World Champion, and Bjorn Borg and Jimmy Connors slugged it out for the No 1 slot in the men’s world tennis rankings. Richmond won the VFL grand final, and in NSW the Bulldogs won the rugby league premiership. The Empire Strikes Back
February 15, 2015
Bellmont Securities’ smart beta SMA is now available on HUB24
In a pioneering move, Bellmont Securities has been successful in creating Australia’s first ‘smart beta’ SMA (Separately Managed Account), now available on the HUB24 platform. “The case for smart beta strategies is compelling. Investors get access to low cost, tax efficient market exposure, but without being over-exposed to the most expensive companies in the market,
February 13, 2015
Could no-commission life insurance kill off financial planning practices?
A fee-for-service remuneration approach to life insurance advice would create a considerable drop in earnings and overall business values for financial planners, according to the head of Centurion Market Makers. “I don’t think clients would remunerate advisers [through fees] as well for life insurance as commissions currently do…the fees wouldn’t match the current commissions,” says
February 13, 2015
FEATURE: Inside the turnaround that led AMP to the top of the heap
A well-known football commentator once said that watching a fairly solidly built AFL player trying to change direction was like watching “Pavarotti on a skateboard”. Trying to turn around the culture and the philosophy of a giant financial services organisation can be a bit like that, but the managing director of AMP Capital, Stephen Dunne,
February 13, 2015
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
