Why promoting the public interest will win the public’s trust
A week or so ago the president of the Australian Medical Association (AMA), Dr Brian Owler, was interviewed on ABC Radio – and other places – about the AMA’s proposed amendments to the government’s $7 co-payment for visits to a general practitioner. Owler spoke knowledgeably, at length and passionately about the need to ensure Australia
September 01, 2014
In focus: The retirement bucket list – why effective solutions require a rethink
In some quarters, nothing short of a top-to-bottom rethink of the financial planning process is considered necessary as increasing numbers of clients retire and find the traditional approach to financial planning and portfolio construction to be wanting. That the traditional approach doesn’t work isn’t the fault of anyone in particular, “because the way things are done at the moment, we [all]
August 31, 2014
Expressions of dissatisfaction: How to effectively respond when a client complains
Every day, thousands of Australian consumers voice their dissatisfaction about the services they receive (or fail to receive, as the case may be) from the professionals they deal with, across a broad range of industries. The financial services industry is certainly not immune from such discontent – in fact, some might argue that client complaints
August 30, 2014
FinTech to Revolutionise Financial Services – The future is now
The recent acceleration in FinTech startups in Australia is presenting interesting regulatory challenges, according to The Fold Legal (The Fold) managing director, Claire Wivell Plater, who says FinTech solutions have the capacity to radically revolutionise traditional financial and credit services. “We are providing regulatory advice to a number of exciting and creative FinTech providers on
August 29, 2014
Financial planning practices speak out on adviser education standards
The rush by Australian financial institutions to implement new education standards across their financial advice channels could have wide-ranging impacts at an individual practice level. So says Gareth Hall, managing director of Lifestyle Financial Planning, a Chatswood-based practice that is an authorised representative of the Commonwealth Bank-owned licensee Financial Wisdom. “I think the area it’s
August 29, 2014
Understanding the alphabet soup of financial planning’s new education standards
The financial planning industry is awash in an alphabet soup of accreditations, certifications, designations and qualifications. Whether you’re working in the financial planning businesses of CBA, NAB, AMP, WBC or ANZ, there’s a confusing array of CFP, FChFP, ADFP and MoFP out there. The relevance of these also often hinges on whether you’re part of
August 29, 2014
Superannuation mythbusters on the trail of a retirement income solution
A simple, flexible and robust retirement income solution is staring superannuation funds in the face but trustees have failed to notice it because of entrenched myths and misconceptions surrounding what Australians want and how they behave in retirement, according to Michael Rice, chief executive officer of consulting firm Rice Warner. Rice says that once those
August 29, 2014
van Eyk releases Australian equities review, extremely challenging economic conditions ahead
van Eyk Research has released its 2014 Australian Equities Review –as it enters the final stages in its highly-anticipated 2014 Fixed Income Review. According to the review, value managers have significantly outperformed growth and style-neutral managers over the last three years with lower levels of risk, however, investors should brace themselves for extremely challenging economic
August 28, 2014
Perpetual delivers strong results and returns; launch of Global Share Fund
– Strong results: . UPAT of $104.1 million, up 37% . NPAT of $81.6 million, up 34% . Fully franked dividend of 175 cents per share, up 35% − FUM of $29.8 billion, up 18% – “Simplify and Refocus” phases of Transformation 2015 strategy delivered on plan, now in “Growth” phase – The Trust Company
August 28, 2014
Redesigning retirement incomes policy – from the ground up
In recent years retirement income products have been a subject of the Cooper and Henry reviews. Now they are being addressed in the Financial System Inquiry (FSI) and the Government’s review of retirement income stream regulation. Further, appropriate retirement income regulatory design is very much driven by tax and social security expenditure settings, so the
August 27, 2014
Financial planning risk conversations must change in new fact-based landscape
The pursuit of financial security has shifted from a “feeling landscape to a fact landscape” and advisers’ conversations with their clients must reflect this, says Tim Noonan, managing director of capital markets insight, Russell Investments. He points to a flawed definition of risk within the industry, arguing that views of risk as it relates to
August 27, 2014
Financial planners can learn from the Wizard of Oz and building teddy bears
Some financial planners carry on as if they were the Wizard of Oz, terrified that allowing clients to see what is really behind the curtain of financial planning would somehow diminish their power or mystique. In fact, says Dr David Lazenby, principal of ScenarioNow and a psychologist who has worked with elite athletes and the
August 27, 2014
