New ASX offering could alter state of play for independent financial planners
ASX mFund could bring a substantial shift in the terms of engagement between investors, platform providers and fund managers, according to one of the new managed funds settlement service’s foundation members. Having officially launched yesterday, after a years-long process that included significant regulatory hurdles, mFund is an electronic processing service allowing investors to buy and
May 09, 2014
Why ethics is an individual issue – and why it starts at the top
Unethical, immoral and even criminal activity by companies starts in the boardroom, and if company is rotten at the top it is far more likely to be rotten all the way through, according to Michael Woodford, former president of Olympus, and author of the book Exposure – From President to Whistleblower at Olympus. Please CLICK
May 09, 2014
Exempt true independent financial planners from ‘copious’ disclosure: Alafaci
Financial planning stalwart Dominic Alafaci has called for genuinely independent financial planners to be exempted from the “copious disclosures regime” that rightly applies to non-independent planners. Alafaci, managing director of Collins House Private Wealth and a life member of the Financial Planning Association of Australia, argues that extensive disclosure requirements only make sense where a
May 09, 2014
The fund manager’s view: mFund set to shake things up
ASX has launched its much-anticipated mFund Settlement Service. Peter Dorrian examines the benefits of the exchange’s latest initiative. Direct investing has become a phenomenon in Australia. Sparked initially by the attractively priced privatisation of state-owned assets through the late 1980s and 1990s and stoked by a rapidly rising domestic share market leading up to 2007,
May 09, 2014
Consumer financial priorities revealed ahead of Budget
New consumer research findings ahead of the Federal Budget reveal that building up savings is the current top financial priority for Australians. The research conducted for Australia’s leading specialist insurer TAL shows that saving is the top priority for all key demographic groups, with 100% of those aged 18-24 listing this as a current financial
May 08, 2014
AMP Limited reports first quarter cashflows, AUM and wealth protection update
AMP Limited today reported cashflows and assets under management (AUM) and an update on its Wealth Protection business for the first quarter to 31 March 2014. AMP’s Q1 14 cashflow reporting has been more closely aligned to the business structure which came into effect on 1 January 2014 under new AMP CEO Craig Meller. This
May 08, 2014
Mortgage Choice grows financial planning footprint
To support the rapid growth of its network of financial advisers, Mortgage Choice has appointed two new Practice Development Managers. Garth Campbell has taken on the role of Practice Development Manager for the Southern Region, while Joseph Raad has been appointed to the role of Associate Practice Development Manager in Sydney. Both Mr Campbell and
May 07, 2014
Aged-care rule changes an advice opportunity that clients will pay for
With July 1 fast approaching, Lara Hansen looks at what is changing in aged care and the main implications this creates for advice. Just when many advisers were starting to understand aged care, the rules are about to change. But isn’t that always the way with legislation. Clients who move into aged care from July 1, 2014
May 07, 2014
Spotlighting the problems of a product-centric view of advice
Three things happened this week that should send a chill down the spines of all self-respecting financial planners. In fact all these things happened on Monday. It was quite the start to the week. First up, the ABC TV program Four Corners exposed further problems within the Commonwealth Bank’s financial planning arm; secondly, BT Financial
May 07, 2014
Retirement income did not fall for most in GFC says ‘astonished’ QSuper
The Global Financial Crisis (GFC) never happened in income terms. That’s the new finding from QSuper that’s causing it to rethink the way it communicates to members. Brad Holzberger (pictured), chief investment officer at QSuper, has described the find as “astonishing”. “If we’d known this, we would’ve communicated it very differently to members at the
May 07, 2014
Certitude bolsters client service team with new appointment
Certitude Global Investments (Certitude), a leading provider of global asset management skill, has added to its growing team with the appointment of Tim Williams to an Adviser Relationship Manager role. In this role, Mr Williams will be responsible for the development and maintenance of Certitude’s relationships with its financial advisers and investors. Prior to joining
May 06, 2014
BT Financial Group Announces 2014 half-year results
BT Financial Group made a significant contribution to the Westpac Group first half 2014 results, with cash earnings of $438 million, a 21 per cent increase on the same period last year. BT Financial Group’s CEO, Brad Cooper, said that improving market conditions and a strong business model had seen the group provide increased services
May 05, 2014
