Government’s public adviser register wins the backing of financial industry bodies
The government’s announcement of details on the enhanced public register of financial advisers has drawn a resoundingly positive response from across the industry. It comes after the Senate Inquiry into the Australian Securities and Investment Commission (ASIC) and financial advice scandals at Commonwealth Financial Planning and Macquarie Private Wealth. “Our sense is that it has
October 27, 2014
A young financial planning firm’s mission to help people prepare for the worst
Brisbane-based financial planning practice My Wealth Solutions was co-founded to help more Australians be better prepared when tragedy strikes, says director Benjamin Budge. This goal is underpinned by personal experience. His father passed away from a heart attack at 49 years of age. Business partner Guy Freeman had a similar experience, losing his father aged
October 27, 2014
Australian Ethical advises that FUM was $959.4 million as at 30 September 2014
Australian Ethical advises that funds under management (FUM) as at 30 September 2014 was $959.4 million, an increase of 8.1% since 30 June 2014. FUM as at 30 June 2014 was $887.2 million. FUM and flows by product for the three months to 30 September 2014 were as shown in the attached document. Managing Director
October 26, 2014
Lonsec delivers subscribe recommendation on Medibank IPO
Lonsec Stockbroking has released a research report on Medibank Private Limited (MPL) delivering a subscribe recommendation to advisors and investors for Australia’s largest privatisation since Telstra. Lonsec says it expects Medibank to generate 6% p.a. compounded earnings growth over FY15-17 and offer a yield of around 4.0% fully franked. It also provides FY16 valuation target
October 26, 2014
AMP Limited reports third quarter cashflows, AUM and Australian wealth protection update
AMP Limited today reported cashflows and assets under management (AUM) and an update on its Australian wealth protection business for the third quarter to 30 September 2014. AMP Chief Executive Craig Meller said: “This continues our solid momentum across the business. Our current range of products are performing well, the focus on Asia continues to
October 26, 2014
Australian Unity launches new property trust
Australian Unity Investments has launched the Australian Unity Rockdale Property Trust, which owns a modern retail building in south Sydney at 395 West Botany St, Rockdale. The property is currently leased to Fitness First Australia and Repco. There is also a lease on an adjoining car park to provide 123 parking spaces across the site
October 26, 2014
CRC chair says ‘my licensee made me do it’ is no excuse for unethical behaviour
Horse racing in Victoria and travel agents across the country have more in common with financial planning than might be immediately obvious. Central to the similarities is a code of professional conduct, and a robust mechanism to enforce that code. But they also share the skills and expertise of Dr June Smith, who last week
October 24, 2014
CBA managers, paraplanners subject to new FinWiz and Count education standards
Commonwealth Bank yesterday announced financial adviser education standards across its Count Financial and Financial Wisdom authorised representatives, according to the bank’s head of wealth management. These will also be applied across the division’s non-planner staff, including managers, paraplanners and support staff, says Marianne Perkovic, executive general manager, Wealth Management Advice. According to Perkovic, this is
October 24, 2014
Providing financial planning along with a good bedside manner
Establishing an office across the road from a major Queensland hospital was a strategic move for Brisbane-based practice Complete Financial Balance. A focus on advising clients in the medical sector is a core difference of the business, which was the inaugural winner of the Practice of the Year award at the Association of Financial Adviser’s
October 24, 2014
Liquidity risk is manageable and can offer opportunities: AllianceBernstein
Liquidity risk—or the danger that investors will be unable to trade in securities at the time and price of their choosing—has become a much greater challenge for investors, and could hurt bond investors in particular as interest rates rise, global asset manager AllianceBernstein said today. According to Douglas J. Peebles, Chief Investment Officer and Head
October 24, 2014
AMP Capital wins concentrated equities mandate worth A$175 million
AMP Capital has won a A$175 million mandate from Nikko Asset Management Australia to manage a concentrated equity portfolio on behalf of its multi-manager team. The mandate is managed by AMP Capital’s Co-Head of Australian Fundamental Equities, Gian Pandit, and is a tailored investment solution based on the highly successful concentrated equity strategy run by
October 24, 2014
Australian market stuck in the mud
While the Australian market is going through some tough times at the moment, there is no clear catalyst for that to change according to Paul Moore, Chief Investment Officer and founder of boutique fund manager, PM CAPITAL. “The September quarter showed that the market status has come to an end, and that going forward the
October 24, 2014
