Hammering away at asset allocation is only part of the retirement income solution
If the only tool you have is a hammer, the temptation to view everything as a nail can be overwhelming. For much of the financial services industry, asset allocation – and investors’ ongoing need for growth assets – is the nail which is currently being pummelled. But no amount of hammering will make this problem
January 19, 2015
Australians’ appetite for overseas assets rises as domestic confidence drops
According to the Certitude Global Investing Intentions Index (CGIII), net demand for overseas assets from Australian active investors reached an 8-month high in December 2014. The CGIII also reported a spike in demand for overseas assets among High Net Worth investors (HNW, $1m+ in investable assets) reaching its highest level since January 2014. The December
January 16, 2015
PJC proposals could achieve the goal of restricting the term ‘financial planner’
The terms “financial planner” and “financial adviser” will effectively be enshrined in law if recommendations proposed by the Parliamentary Joint Committee (PJC) inquiry into professional, ethical and education standards are adopted. The chief executive officer of the FPA Mark Rantall (pictured, on the right), says the PJC has recommended modifications to the planned register of
January 16, 2015
Mandatory fee-for-service life insurance is not an option: Deloitte
A fee-for-service remuneration model for life insurance is not a viable alternative to commissions, according to a senior partner at Deloitte. Paul Swinhoe, life insurance partner at the global consultancy firm, argues a mandatory fee-based model ignores the costs financial planners face in advising on and establishing life insurance policies. He believes this would also
January 16, 2015
Smarter Money Active Cash outperforms peers in 2014
The boutique fund manager Smarter Money Investments (“SMI”) is delighted to reveal that researcher Morningstar’s 31 December 2014 data show that the Smarter Money Active Cash Fund has convincingly outperformed competing active cash and short-term fixed interest products over every measurable period since its inception in February 2012. “The latest Morningstar results indicate that Smarter Money Active
January 15, 2015
Greasing the wheels of consumers
Our economic story for 2015 is simple: low interest rates, the halving of oil prices, healthier private sector balance sheets, improving labour markets and reduced fiscal drag should lead to a meaningful improvement in the global economy after three years of below-trend growth. That said, we also expect stronger growth to come with significant divergences,
January 15, 2015
Living Super Balanced Option assigned ‘Recommended’ rating by Lonsec
The ING DIRECT Living Super Balanced Option, the first Balanced option available to all Australians with no administration, contribution or management fees, has been assigned a ‘Recommended’ rating by Lonsec in its first review. Commenting on the rating, Mark Woolnough, Head of Third Party Distribution at ING DIRECT, said: “Living Super is a great superannuation
January 15, 2015
Lonsec Stockbroking unveils new desktop tool for advisers
Lonsec Stockbroking has further strengthened its unique wholesale broking offer to financial advisers, significantly growing its team and rolling out new technology to help planners better manage their client portfolios. In an industry-first, Lonsec has partnered with GBST to offer clients a white label FrontOffice solution. It will plug into Lonsec’s research capability as well
January 15, 2015
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
