Meridien Wealth taking first steps on road to recovery from Commonwealth FP fallout
Before purchasing financial planning business Meridien Wealth in June 2012, managing director David Adiseshan was assured by the previous owner that the company was a “going advice concern”. Little did he know it would be implicated in a potential class action of up to $200 million by some 3000 investors in Commonwealth Bank of Australia
May 23, 2014
Key groups stake their claims in Future of Financial Advice amendments inquiry
Five key gaps remain in the regulatory framework for financial planners in Australia, according to the Financial Planning Association of Australia (FPA) white paper, The Future Profession, released yesterday. The paper was released following the FPA’s appearance at the Senate Standing Committee on Economics inquiry into the Corporations Amendment (Streamlining of Future of Financial Advice)
May 23, 2014
What if the sharemarket threw a party and nobody came?
Has a stock-market high ever been greeted with such indifference? The S&P 500 Index topped 1,900 last week while the FTSE 100 hit a 14-year record. Investors should be celebrating but in the main they’re looking nervously over their shoulders. What’s going on? The first hint that something might not be quite right is the
May 23, 2014
Balancing the use of discretion when implementing managed accounts
Financial planners wanting to operate managed accounts for their clients need to ensure their businesses are ready for, and aware of, the trade-offs involved, in order to meet growing client demand for investment control and flexibility. Some key questions you need to ask yourself revolve around effectively implementing discretion within client portfolios and determining how
May 23, 2014
Retail investors and SMSFs set to benefit from ASX mFund settlement service
Equity Trustees and its award winning investment manager partners PIMCO, LaSalle and SG Hiscock & Company have made 14 funds available on the mFund settlement service, with more set to follow. The mFund Settlement Service is an ASX initiative that allows investors to buy and sell units in selected unlisted managed funds (mFunds), through a
May 22, 2014
Revealed: the 2014 super fund of the year
The winners of the Chant West | Conexus Financial Super Fund Awards were announced last night in a ceremony at Ivy Ballroom in Sydney, with more than 300 guests in attendance. Awards were handed out across 10 categories, with the night’s biggest award going to REST for Super Fund of the Year, which was presented
May 21, 2014
Exclusive To all professional financial planners: step forward and be counted
The chairman of the Financial Planning Association, Matthew Rowe, says the profession has reached a tipping point. It is time to stop talking about change, and to do what is required to make the change happen. Four years and four ministers later, Australia’s financial planning profession remains burdened by the deadweight politics of FoFA. The
May 21, 2014
Why the next 30 days could completely redefine your future
The next month or so will be critical for the future of financial planning, for the development of financial planning as a profession in Australia and, by extension, for the interests of all Australians. As various interest groups prowl the corridors of Canberra, presenting their respective cases and lobbying lawmakers and bureaucrats, no less than
May 21, 2014
Going direct: Do you have what it takes?
Around 27 per cent of new inflows are now invested in listed equities and property, up from 19 per cent in 2012, according to a new report by Investment Trends. Advisers expect that number will hit 33 per cent by 2017. While advisers are comfortable using managed funds for exposure to international equities and alternative
May 21, 2014
All the winners to be revealed in super fund awards tonight
The wait is almost over, as the superannuation industry prepares to gather to recognise its best and brightest at the Chant West|Conexus Financial 2014 Super Fund Awards Evening tonight in Sydney. With the winning fund to be announced by the Prime Minister Tony Abbott, this awards evening is the premier event for recognising excellence in
May 21, 2014
AMP reduces pricing on North Guarantee
AMP has reduced the cost of the North Guarantee, making it cheaper for customers taking out a new guarantee to access a solution to protect their capital in times of market downturn while still retaining exposure to market gains. AMP’s Director, Superannuation and Investment Platforms, Patricia Montague said the new fees made protecting the capital
May 20, 2014
ANZ blends digital geek, wealth specialist to deliver new customer experience
ANZ today unveiled its new Grow Centre in Sydney, a place that brings together digital solutions and personal service to help people connect, protect and grow their wealth. Joyce Phillips, ANZ CEO Global Wealth said: “Grow by ANZ is a new platform for ANZ to deliver innovative wealth solutions across the physical, digital and advice
May 19, 2014
