Nominate a fund for the Conexus Financial Superannuation Awards
Entries are now open for the Conexus Financial Superannuation Awards which have evolved to embrace input from key industry stakeholders, whose experience and expertise will be integral to identifying the best funds across a number of categories – including Super Fund of the Year and Pension Fund of the Year. The aim of the awards
January 07, 2015
Retail and sophisticated investor divide crucial in post-Murray world
The distinction between retail and sophisticated investor will become even more crucial if the Federal Government adopts key recommendations of the Murray Inquiry, according to the head of Australia’s leading online sophisticated investor registry. Sophisticated Access founder, Peta Tilse, says the Financial System Inquiry’s blueprint for the next few decades focuses on the fair treatment
January 06, 2015
Chair of life insurance working group confirms submissions will be confidential
The independent chair of the Life Insurance Advice Working Group’s (LIAWG) report into life insurance, John Trowbridge, has confirmed that submissions will not be made public during the review period. Criticisms about a lack of consumer trust in the quality of life insurance advice were highlighted in the Australian Securities and Investments Commission’s review of
December 19, 2014
What did we read in 2014?
The Professional Planner Top 40
In 2014 Professional Planner published more than 1500 online articles, on issues and subjects that affect individual professional financial planners, financial planning businesses and the financial planning profession. That works out at an average of 30 articles every week for the 50 weeks a year in which we publish. We covered regulatory upheaval, the ongoing
December 19, 2014
Merry Christmas from Professional Planner – we will return in early 2015
Professional Planner is taking a break over the Christmas and New Year period. Our offices will be closed from COB on Friday, January 19, and will reopen on Monday January 5, 2015. We wish all of our readers a very Merry Christmas, and a safe, happy and prosperous New Year. Best wishes, Simon Hoyle Glenn
December 19, 2014
Vanguard continues momentum in global ETF market
Vanguard reported today that it continued to see strong adoption in 2014 of its exchange-traded funds (ETFs) in the United States, Canada, Europe, Australia, Asia, and elsewhere around the world. The firm reported global ETF cash flow of more than $75 billion at the end of November and total global ETF assets of more than
December 17, 2014
AFA-FSC statement on Trowbridge interim report
The interim Trowbridge Report released today has identified four key areas that need to be addressed by the life insurance and advice industries in response to ASIC’s Review of Retail Life Insurance and Advice report released on 9 October. These include: – the quality of advice – remuneration and other adviser incentives – insurer practices
December 17, 2014
Life insurance and advice industry to embrace change: Trowbridge Interim Report
John Trowbridge today released his interim report for the Life Insurance and Advice Working Group (LIAWG) established by the Association of Financial Advisers (AFA) and the Financial Services Council (FSC). Mr Trowbridge, who is independent chairman of the LIAWG said: “The interim report thoroughly assesses ASIC’s Review of Retail Life Insurance and Advice report released
December 17, 2014
What, who and when? The white elephant in the opt-in requirement
It’s nearly twelve months since the Government proposed to streamline the Future of Financial Advice (FoFA) changes, including a proposal to repeal the opt-in requirement. Streamlining FoFA was supposed to reduce red tape and the costs that are passed onto clients. However, the manner in which the Government has managed the reforms has resulted in
December 17, 2014
Talk of mass adviser flight to independence is an exaggeration, says licensee head
There is no mass exodus of financial planners from institutionally owned Australian Financial Services licensees to non-aligned and independent channels, according to the head of advice group Paragem. “Ten years ago, the debate was the same regarding institutional ownership of financial planning licensees ending,” says Ian Knox, managing director of Paragem. “Every few years we
December 17, 2014
Common sense in the FoFA saga – but expect normal service to resume in 2015
It’s good to end the year on something resembling a bright note. With just two days to go until most of Australia shuts up shop for a couple of weeks (or more) of well-earned R&R, the vexing issue of grandfathering has been largely sorted out. And amendments to the Future of Financial Advice (FoFA) regulations,
December 17, 2014
FEATURE: Has the era of the major professional services firm dawned in financial planning?
A puzzling feature of the financial services landscape is that large-scale professional services firms, like those found in law or accounting, don’t exist the same way in financial planning. The new financial planning business co-founded by former MLC chief executive Steve Tucker and former JBWere chief executive Paul Heath is an attempt to address that,
December 15, 2014
