Pro bono Financial Advice Network to give something back, lift standing of profession
A fundamental commitment to providing the community with access to pro bono services is a hallmark of every trusted and respected profession, and the newly formed Pro Bono Financial Advice Network (PFAN) aims to both give back to the community and raise the standing of the fledgling financial planning profession. The PFAN is designed to
September 03, 2014
A legacy of commissions is a lingering challenge for financial planning
The large volume of financial planning clients tied to obsolete commission-based remuneration arrangements poses a significant challenge for the industry, according to a senior figure at consultancy group Rice Warner. Steve Freeborn, Rice Warner’s head of superannuation and investments, refers to the situation whereby commissions from legacy books of client business – those pre-dating July
September 03, 2014
Call to exempt advisers aged over 60 from key regulatory reforms
Financial planners and financial advisers aged over 60 should be granted special exemptions from a raft of potential regulatory changes, according to a submission to the Parliamentary Joint Committee on Corporations and Financial Services inquiry into proposals to lift the professional, ethical and education standards in the financial services industry, A director of Dean Evans
September 03, 2014
Aberdeen funds now available on mFund settlement service
Aberdeen Asset Management has announced that five of its funds are now available via the mFund Settlement Service. The Aberdeen funds offered on the new service cover a range of asset classes – emerging market equities, Asian equities, global equities (including a hedged option) and diversified fixed income. The mFund service will complement Aberdeen’s existing
September 02, 2014
In focus: Banking on a down the line endorsement
Cash-flow management underpins the role that financial planners play in creating stable foundations on which their clients can build wealth. For this reason, products such as those offered by BOQ Specialist – formerly Investec Bank (Australia) Limited – play an important role. BOQ Specialist – a wholly owned subsidiary of Bank of Queensland, formed through
September 02, 2014
‘Bike and blend’: Advisers take AIA Vitality to the people
In the last few months, the life insurer has partnered with two financial advisers – Ged Lowe, at Lowe Financial Group and Andy Hills from All Financial Services – to raise awareness of the incentive-based health and wellness program with prospective clients. Interactive kiosks (image attached), including bicycles that blend smoothies as you pedal, were
September 02, 2014
Private member’s bill to ‘outlaw general advice’
Australian Greens Senator Peter Whish-Wilson will introduce a private member’s bill to the senate today proposing an amendment to the Corporations Act to change the term “general advice” to “general information”, and to make it illegal to claim to be giving “advice” when providing only general information. A spokesperson for Senator Whish-Wilson says the bill
September 02, 2014
Planners are focusing more on life insurance and expect this to continue over the short term
Key findings of the Investment Trends 2014 Planner Risk Report: – Planners are focusing more on life insurance and expect this to continue over the short term – Planners are expanding the range of insurers they use, but switching remains high – Zurich and AIA Australia has the highest satisfaction amongst its users – Underwriting
September 01, 2014
IRESS’ XPLAN rated leading risk software solution
IRESS’ advice and wealth management platform XPLAN has again been rated the leading risk software solution according to the latest report from leading industry research house, Investment Trends. The June 2014 Planner Risk Report examines Australian financial planners’ insurance advice business, including analysis of the primary risk software solutions. With the majority (89%) of planners
September 01, 2014
Lonsec flags risks in stellar A-REITs sector
Lonsec publishes its 2014 Australian Listed Property Securities (A-REIT) Sector Review Leading research house Lonsec has warned investors to stay alert for structural risks in Australian REITs as the sector continues to rebuild and prosper. Lonsec’s 2014 A-REIT Sector Review, released today, showed Lonsec’s peer group of active A-REIT managers achieved returns of 12.7% over
September 01, 2014
ClearView in $20m bid for Matrix to fill ‘very large space’ in advice market
A $20.25 million takeover bid for Matrix Planning Solutions by ClearView Wealth is the latest piece of merger and acquisition activity in the non-aligned financial planning space to underline the sector’s emergence as a genuine and robust alternative to institutionally owned financial planning licensees. Through a merger implementation deed, ClearView will offer Matrix shareholders $7.75
September 01, 2014
Financial planning practice owners ask: Should I stay or should I go?
Financial planning practice owners are becoming increasingly likely to buy or sell as greater certainty takes hold across the industry, according to a consultancy that assists in brokering such deals. Tony McDonald, director of T&C Consulting, says he has been receiving “a lot more inquiries over the last three or four months”. He believes that
September 01, 2014
