FPSB focuses on long-term strategy, growth, governance and standards at Istanbul meeting
Financial Planning Standards Board (FPSB), the global nonprofit standards-setting body for the financial planning profession and owner of the international Certified Financial Planner certification program, kicked off its 10th anniversary year by advancing its long-term strategic initiatives at its semi-annual meeting earlier this month in Istanbul, Turkey. In addition to a governance review to support
April 30, 2014
Cheap and nasty: the real cost of discount dealers
There are super-cheap dealer groups around willing to license financial advisers for as little as $1050 per month plus GST. For this cut-throat price, authorised representatives have access to traditional dealer services such as licensing, research and technical support. The website of one discount dealer group proudly boasts it has 50 advisers on board. Based on
April 30, 2014
Why vertical integration should stop with the licensee, not start there
The second partner firm to join Bombora Advice will be in place by the end of the month, and the firm is on track to have five partner firms in place by June 30. The second firm to join the group will be the Brisbane-based Personal Risk Professionals (PRP), which currently operates under the National
April 30, 2014
A new era: the rise of the financial planning academic
The roots of financial planning are in insurance agents and stockbrokers who sought out a way to deliver better advice and guidance to their clients. Similarly, the roots of financial planning education have long been in “adult education” certificate programs that took experienced and active advisors back to school to gain the educational knowledge they
April 30, 2014
FSC will proceed with legal action on the validity of the FWC Expert Panel
The Financial Services Council will proceed with legal action in the Federal Court to challenge the validity of the constitution of the Fair Work Commission’s Expert Panel for the selection of default MySuper products. John Brogden, CEO of the FSC said: “We will apply for an urgent hearing in the Federal Court.” The FSC will
April 29, 2014
CFA Societies Australia focuses on investors’ rights at a crucial time for financial services industry
CFA Societies Australia will be highlighting the importance of putting investors’ interests first during its upcoming Investor First Week from 12 – 16 May. Investor First Week is part of CFA Institute’s global Future of Finance initiative, a long-term effort to shape a trustworthy, forward-thinking financial industry that better serves society. The initiative aims to
April 29, 2014
FPSB seeks candidate for 2015 board of directors
Financial Planning Standards Board Ltd. (FPSB), owner of the international Certified Financial Planner certification program, seeks candidates for one open position on FPSB’s Board of Directors for a four-year term, beginning 1 April 2015. Candidates should be submitted to the FPSB Nominating Committee Coordinator at nominations@fpsb.org or +1-720-407-1921 (fax) no later than 17.00h Mountain Daylight Time
April 29, 2014
Nominations open for 2014 AFA Excellence in Education Award
The Association of Financial Advisers (AFA) is calling for nominations for the seventh AFA Excellence in Education Award (the Award), to be presented in October at the AFA National Conference in Cairns. Through this Award, the AFA along with partner Asteron Life, recognise advisers who are continually investing in themselves, their staff and their business,
April 29, 2014
Why vertical integration is just a symptom of a much deeper disease
The issue of vertical integration has raised its head again (as if it ever really went away), as submissions to the government’s Financial System Inquiry (FSI) focus on planners being coerced to place clients’ funds into investment products manufactured by the same institutions that own the financial planners’ licensees. Vertical integration is a rational and
April 28, 2014
Dominance of traditional platforms under threat
The evolution of the financial advice industry is seeing managed accounts emerge as the preferred investment and administration vehicle for many investors, SMSFs and advisers. David Heather explains. Managed accounts are not a recent development in Australia. They have existed in various forms since the 1990s. Some industry reports claim that managed accounts are only a
April 28, 2014
YBR launches “Ask My Advice” day to give Australians better access to quality financial advice
Yellow Brick Road Wealth Management (ASX:YBR) has announced the launch of the company’s first “Ask My Advice” Day, a community initiative that encourages local residents to visit a Yellow Brick Road branch to ask their mortgage, superannuation, insurance, retirement and savings questions. Yellow Brick Road’s “Ask My Advice” Day will take place nationwide in branches
April 23, 2014
TAL boosts risk management capability
Australia’s largest life insurer TAL has strengthened its risk management by appointing a Chief Risk Officer (CRO) to its senior executive team. Experienced risk manager Scott Mackenzie has this month started in the new role at TAL following an extensive career in financial services in the United States, Latin America and Canada. TAL Group CEO
April 23, 2014
