New program allows financial planners to shed C- and D-class clients
The vexing question of how to handle so-called C- and D-class clients has a new solution with the development of a program by DeltaPlan Financial Services. The program invites financial planning businesses to “sell” their lower-value clients to DeltaPlan in return for a 50 per cent share in the future revenue that DeltaPlan generates from
April 07, 2014
Ageing boomers highlight estate planning opportunity for financial planners
The unprecedented inter-generational transfer of wealth looming for Australia, driven by a huge baby-boomer demographic that holds a significant proportion of the nation’s assets, highlights the importance of estate planning like never before. However, it’s an area that individuals often overlook, with some 45 per cent of Australians not having a Will, according to recent
April 07, 2014
As India goes to the polls, is it poised to emerge from the shadows?
India has fallen from investors’ minds over the past few years as attention has focused on the other Asian giants, China and Japan. Expect that to change in the next few weeks as election fever comes to the boil in the world’s largest democracy. Indians love elections as anyone who has been caught up in
April 07, 2014
AFA highlights role of financial planners in salvaging direct life sales
The underwriting terms of some direct life insurance products could be damaging the reputation of the broader life insurance sector, says the head of the Association of Financial Advisers (AFA). The chief executive officer of the AFA, Brad Fox, says when consumers suffer a poor experience with direct-sold insurance products it is often financial planners
April 04, 2014
FoFA eating into platform product development
Financial product innovation in Australia has suffered in recent years as a result of platforms focusing primarily on regulatory-driven reform, says Kelly Power, BT Financial Group’s head of platform product. “I think the level of discretionary investment outside of regulatory change has dropped,” Power says. “Focusing on implementing regulations is a significant cost for us
April 03, 2014
How financial planners can help clients keep up with inflation
High inflation can erode wealth, but skilful advisers can help their clients maintain and grow the value of their portfolios, Peter Dorrian writes. Inflation came in at 2.7 per cent in the December 2013 quarter, according to the Australian Bureau of Statistics. That fell in line with the 10-year annual average of 2.73 per cent
April 03, 2014
TAL makes record life insurance payouts
New figures show that Australia’s leading life insurance specialist TAL paid out more than $843 million in claims last year, a massive increase of 45% over the previous year’s payout of $580 million. Of the different forms of life insurance, those taken out to help people while still living account for the majority of the
April 02, 2014
Financial Simplicity positions for growth with new hires
Financial Simplicity, a leading supplier of portfolio management technology and professional services that supports scaled portfolio monitoring, rebalancing and trading for wealth management firms, has announced two new appointments that will support their next phase of growth. Alan Keenleside joins Financial Simplicity as Chief Technology Officer from Bank of America Merrill Lynch, where Alan led
April 02, 2014
Can everyone’s interests be satisfied in the FoFA amendments debate?
If you think it’s all quiet on the FoFA front at the moment, then picture a duck: serene and calm above the waterline, but paddling frantically beneath it. Behind the scenes over the past week or so there has been no shortage of action. Since the government announced a freeze on the Future of Financial
April 01, 2014
Infocus declares the future is bright as it reclaims its independence
Fresh from reclaiming its independence, the Queensland-based Infocus Wealth Management is gearing up for a bright future. But first, says managing director Rod Bristow, there’s the small matter of the FoFA amendments to deal with. InFocus Wealth Management was ready to comply with the full measure of the Future of Financial Advice (FoFA) reforms on
April 01, 2014
Macquarie Life supports the National Stroke Foundation to raise awareness of stroke risk
Macquarie Life is supporting the National Stroke Foundation to raise awareness of stroke risk through sponsorship of the Stroke Solidarity String across Australia. As part of the campaign, the National Stroke Foundation and Macquarie Life are calling on advisers to help their clients understand stroke risk and the importance of taking steps to be financially
April 01, 2014
Financial Planners called on to help award philanthropic grants
Regional Chapters of the Financial Planning Association (FPA) are being called on to help allocate $70,000 worth of grants, based on their strong community roots and local knowledge. Marking a new decision-making process for the Future2 ‘Make a Difference’ grants, the Regional Chapters will be involved in appointing the final grant recipients and reviewing eligible
March 31, 2014
