More partners join mFund service
ASX this week welcomed another four new partners to its mFund Settlement Service, with product issuer Legg Mason Global Asset Management, custodian State Street, and broker distributors State One Stockbroking and Amscot Stockbroking now part of the service. This takes the number of partners connected to 8 issuers representing 61 funds and 19 fund managers,
September 26, 2014
Cultural fit crucial in accountant, financial planning partnerships
Simplifying the business proposition for accountants wanting to move into financial advice is key to building effective partnerships, according to Fiona Navarro, general manager of Apogee. Navarro believes partnerships between accountants and financial planning practices need to go beyond simple referrals. “It can’t be ‘I refer you, you refer me’; there needs to be a
September 26, 2014
Pre-emptive strike on self-regulation exposes hypocrisy of higher standards
A question the Financial Services Council (FSC) needs to answer after claiming that self-regulation is “no longer a credible option” for improving standards in financial planning is: how on earth would they know? The FSC’s call for a new body to set and enforce standards in the financial planning industry is based in a faulty
September 26, 2014
Regulatory spotlight on planners ignores issues caused by dodgy financial products
Financial planners are under scrutiny as never before and there is a consensus building that there should be a clear distinction between information, sales and advice about financial products. But will this solve the problems of individuals who buy financial products that are not good for them? We may strip out the dodgy planners and
September 26, 2014
Europe’s investment loss will be Asia’s gain
The loss of momentum in Europe and the absence of any new potential driver to push European equity markets to new highs will see retail investors increasingly turn to Asia over the next 12 months according to Louis Vincent Gave, COO and Chief Risk officer of GaveKal Capital, on the eve of his Australian visit.
September 25, 2014
FPA rejects FSC blueprint for a new self-regulatory body
The Financial Planning Association of Australia (FPA) has rejected the Financial Services Council’s call for a new Advice and Competency Standards Board (ACSB) to oversee the Australian financial advice industry. “We don’t see any need to reinvent the wheel. We already have professional standards and certification which is the highest in the world. Where do
September 24, 2014
An unlikely source of help in creating successful referral relationships
There’s no better time than now for financial planning businesses to engage with accountants, and assistance in forging successful referral relationships may come from an unlikely source. Scott Charlton, business coach and author, says that “for good reason, accountants are seen as a great source of referrals”, but many financial planners have had little success
September 24, 2014
VENUS: Good communication is vital, but are we speaking the same language?
Good communication is vital in all business. It’s particularly important when dealing with clients and with staff. Making sure that you are speaking a common language is number one to successful communication; and while men and women may speak a common tongue, the words we choose, the tone we take and our phrasing can be worlds apart.
September 24, 2014
Philo releases white paper on managed accounts
Philo Capital Advisers has released the first instalment of a 3 part white paper that seeks to provide much needed industry education on managed accounts. The paper is targeted at financial services practitioners who are interested in implementing managed accounts within their business but feel they need a more thorough grounding in the topic to
September 24, 2014
William Blair highlights tailwinds for performance in emerging markets
Recently in Australia to promote William Blair’s Unit Trusts, launched earlier this year, William Blair’s International and Global Equity Specialist, Romina Graiver, said the Chicago-based asset manager uncovers many quality opportunities in emerging markets. “Investors know about the growth story in emerging markets however we believe in many cases they underestimate the quality aspect of
September 23, 2014
Senate committee recommends PUP, MEP FoFA amendments be passed
The Senate Economics Legislation Committee report on the amended Corporations Amendment (Streamlining of Future of Financial Advice) Bill 2014 has recommended that the Senate pass the bill. The amended bill contains new measures proposed by the Palmer United Party (PUP) and the Motoring Enthusiasts Party that require advisers to include new statements and information in statements
September 22, 2014
Investors should look to blocs, not BRICS
Emerging markets investors should move away from the flawed BRICs concept and frame the investment landscape in terms of country blocs that perform similarly as the macro environment evolves, according to Investec Asset Management Global Strategist, Dr Michael Power. Dr Power presented an analogy where emerging markets were at the mercy of two tides –
September 22, 2014
