Financial planners, insurers critical in sustaining the life insurance sector
When the life insurance industry has a bad year, it can manifest as a perfect storm for all participants, amplifying the impact of current year claims and policy lapses on the level of reserves insurers are required to hold. By any measure, 2013 was a challenging year for the Australian life insurance industry, with the
July 28, 2014
New tool revolutionises application process for managed funds
A new online tool is set to revolutionise the tedious, confusing and time consuming process when self-directed investors apply for a managed fund. The tool will also be useful for fund managers and fund administrators – reducing the costs of processing applications, including compliance with new anti-money laundering legislation and FOFA changes. Developed by Australian
July 25, 2014
Resetting expectations: income from bonds may not be what it used to be
While it‟s not something they‟ll want to hear, investors who are holding bonds for income will probably need to adjust their expectation of what bonds will deliver in the near future. In the short term, the healthy bond yields investors have come to expect over the last few decades aren‟t likely to return. In this
July 25, 2014
HUB24 Records Strong Inflows for June Quarter
HUB24 CEO Andrew Alcock today announced the June quarter update and advised the company recorded Net Inflows of $117.7m for the period. This boosted FUA at the end of the quarter to $853.8m, and represents an increase of 122% over the past 12 months. FUA continues to grow in July with FUA as at 22
July 25, 2014
FEATURE AMP aims for more advice to more people – and a 60-minute SoA
One of Rob Caprioli’s priorities as AMP’s group executive, advice and banking, is working out how AMP-aligned financial planners can deliver more advice to more customers, more often. “We know that providing high-quality advice delivers significant value to a customer,” Caprioli says. “We know that we have a large customer base. We know there’s probably
July 25, 2014
FPA seeks to placate its troubled CBA members
The Financial Planning Association (FPA) has apologised to its members inside the broader Commonwealth Bank group, after some took offence to what they saw as earlier suggestions of endemic unethical behaviour. In a letter issued last week, as seen by Professional Planner, FPA chair Matthew Rowe, said: “It was not my intention to imply our
July 25, 2014
How an efficient portfolio management system can boost revenue and valuations
The high multiples and prices that dealer groups and advice practices have been able to attract in recent years are, in most cases, directly linked to funds under administration and/or platform rebates. However, the writing is on the wall for rebates. This has seen competition in the investment administration space rapidly heat up in the
July 25, 2014
Equity investors worried about Australian market ‘complacency’ may benefit from low-volatility strategies, says AllianceBernstein
The Australian share market’s strong run during the last two-and-a-half years is causing cautious investors to become more wary about the possibility of downside risks, global asset manager AllianceBernstein said today. And the market’s unusually low volatility is prompting them to wonder whether one of the biggest risks could be complacency—or a reluctance to ask,
July 24, 2014
The importance of work in health recovery
Australia’s largest life insurer TAL has become a signatory to the Australasian Consensus Statement on the Health Benefits of Work. TAL Chief Customer Service and Operations Officer Penny Coates said: “TAL believes very strongly in supporting customers to return to health so they can get back on their feet and get on with their lives.
July 24, 2014
2014 Responsible investment benchmark report
Australia’s most comprehensive report into the responsible investment sector has found the market is undergoing a period of huge growth, with total funds under management in Australia and New Zealand in broad responsible investments increasing by 13% to $153 billion (note 1). The 13th Responsible Investment Association Australasia’s (RIAA) 2014 Benchmark Report has also shown
July 23, 2014
Zurich: AREIT investors must buy the best properties on the street, not the whole street
Zurich Financial Services Australia (Zurich) contests recent commentary on the merits of active management in the increasingly buoyant Australian Real Estate Investment Trusts (AREITs) market, instead believing that the uneven performances seen within individual sectors of the economy add a level of risk to a passive approach. Mr. Patrick Noble, Senior Investment Strategist within Zurich’s
July 23, 2014
Minor party FoFA amendments could increase red tape for financial planning businesses
Amended regulations to the Corporations Act (Streamlining of Future of Financial Advice) Bill 2014, put forward by minor parties in the Senate, could increase red tape for financial planning firms for little consumer protection benefit, according to the SMSF Professionals’ Association of Australia (SPAA). Jordan George, SPAA’s senior manager of technical and policy, told the
July 23, 2014
