Life insurance submission models average cost of risk advice
The current model of life insurance advice is unsustainable, though fee-for-service is not the solution, says the head of financial services consulting firm Elixir Consulting. In her submission to the Life Insurance and Advice Working Group, Sue Viskovic – a former financial planner and a qualified CFP – addresses the challenge of adequately pricing risk
February 08, 2015
Client engagement stagnant despite upward trend in financial planning staff numbers
Financial planning practices have increased staff numbers in recent years, but this may not be increasing the number of client meetings, according to research conducted by Business Health and Rubik. The Future Ready VI survey found the average number of client facing appointments per adviser per week stands at just 6.3. “On average, each practice
February 08, 2015
Aussie economy shifts gears as structural changes take hold
This is an economy in transition. Far from a steady state. And there will be significant changes over the next few years, playing havoc with the outlook for different sectors and regions. In my previous article (in the October issue of Professional Planner) I outlined a “mud map” of current and prospective changes in Australia’s
February 08, 2015
Adelaide Bank slashes new business fixed rates on Commercial property loans
Adelaide Bank today announced up to a 50pb reduction for new business on fixed rates for Full Doc & Simple Doc commercial products. Senior Manager Broker Division, Fons Caminiti, said the move is as the result of a recent review of the bank’s commercial offering and the banks strong appetite for growth across both residential
February 06, 2015
Exclusive: Shadow Treasurer wants bipartisan agreement on super objectives
The Shadow Treasurer, Chris Bowen, said that bipartisan agreement on the objectives of superannuation can be reached, addressing a number of senior industry figures during a roundtable held in Sydney yesterday. Addressing 17 leaders of the superannuation industry, including chief executives of funds, directors of financial services companies and prominent thinkers, in an event hosted
February 06, 2015
TAL submission accepts some blame and argues for more consumer choice
Australia’s life insurers take responsibility for their part in the sector’s problems, including a lack of sustainability and poor consumer choice, says the head of TAL. “We take our blame and our responsibility for our part in it…as a sector we must take responsibility. We need to make some changes, we’re not sure what they’ll
February 06, 2015
Five Proofs – delivering quality advice and achieving informed consent
One of the most important things that any organisation can do is to create a culture that allows financial planners to get on with the task of giving suitable financial advice. As Professional Planner has previously reported, real improvements in the quality of advice are driven from the bottom up, and there is often genius
February 06, 2015
Zenith retains a Recommended rating on the Perpetual Wholesale International Fund
On 30 January 2015, Perpetual Investments (Perpetual) informed Zenith of its decision to appoint its Sydney based, in-house global equities team for the ongoing management of the Perpetual Wholesale International Fund (APIR PER0050AU). Prior to this announcement, management of the Fund had been outsourced to Wellington Management Company LLP’s (Wellington) London based Global Value team.
February 04, 2015
MyPlanner Australia chooses AdviserLogic
Licensee MyPlanner Australia has chosen AdviserLogic to provide technology solutions for its new planners and has also begun roll out of AdviserLogic solutions to its existing planners. AdviserLogic head of product development, Daniel Gara, said 50 MyPlanner Australia users have implemented AdviserLogic solutions since the decision to implement was made in September 2014. “We understand
February 04, 2015
Fund managers see opportunities from volatile markets
It will be a challenging year for investors, with heightened market volatility, central bank action and falling commodity prices creating a very different environment to that of 2014, according to Australian Unity Investment joint venture asset managers. However, these same issues will create good opportunities for those that are able to seize them, agree Australian
February 04, 2015
Decimal incorporates in US to pursue global opportunities
Decimal Software Limited (“DSX”) is pleased to announce that it has established a wholly owned subsidiary, Decimal Software (US) Inc. based in San Francisco in support of the strategy to pursue opportunities emerging in the US for the company. Additionally, Founder and Executive Director, Jan Kolbusz is located in the US leading the development of
February 04, 2015
Sugar-coated record low interest rate won’t fix Australia’s economic outlook
The Reserve Bank’s decision to follow in the footsteps of other central banks by cutting official interest rates to a record low 2.25 per cent is a short term sugar fix that runs counter to lifting business and consumer confidence required to fix Australia’s long term economic needs, says leading national accounting and wealth advisory
February 04, 2015
