PAF establishment numbers reflect adviser engagement and philanthropy upswing
Australian Philanthropic Services (APS) has experienced a significant increase in the number of individuals setting up private ancillary funds (PAFs), suggesting a growing number of financial planners who are having productive conversations with clients about structured philanthropy. Chief executive officer of APS, Antonia Ruffell, says the firm has helped clients set up as many PAFs
March 23, 2014
What is the minimum qualification for a financial planner in your firm?
Readers of Professional Planner are invited to take part in the second SLICE financial planning survey, which focuses on business growth, succession planning and the impact of the proposed changes to FoFA. The survey takes about five minutes to complete. You can CLICK HERE to go straight to the survey website. Among other questions in the
March 23, 2014
Accountants must move soon or face licensee capacity constraints
The chief executive officer of Count Financial, David Lane, has urged accountants seeking a solution to the end of the licensing exemption to act soon or face running into a June 2016 logjam. Lane says there will be many thousands of accountants seeking a licensing solution between now and 2016. He said it typically takes
March 21, 2014
Risk adviser remuneration ignored in latest FoFA amendments
The issue of adviser remuneration for the provision of risk-related financial advice remains unresolved, despite the government’s recent announcement of proposed changes to the best interest duty provisions of Future of Financial Advice (FoFA) regulations. Dante De Gori, the Financial Planning Association of Australia’s general manager for policy and conduct, says they were “surprised” the
March 21, 2014
Government limits commissions on provision of general advice
The Federal Government has announced amendments to its general advice commission exemptions under the Future of Financial Advice (FoFA) legislation, which could drastically limit the payment of commissions for general advice by reintroducing an “employee-only” rule. This would mean financial product providers could not receive commission-based remuneration for providing general advice to consumers. Various industry
March 21, 2014
New hire marks greater institutional focus for State Super Financial Services
Leading public sector financial advice specialist, State Super Financial Services (SSFS), today announced the appointment of James Panaretos to its newly created role of General Manager of Business Development. In line with SSFS’ strategic aim of providing specialist financial advice to public sector members of superannuation funds, Mr Panaretos will be responsible for providing leadership
March 20, 2014
Dalton Nicol Reid announces new CEO
Dalton Nicol Reid has today announced the appointment of Robert White as its new Chief Executive Officer and Head of Distribution. Jamie Nicol, Director and CIO said the new appointment was a positive step and that it would allow the business to continue on its current growth trajectory. “Dalton Nicol Reid has passed some significant
March 20, 2014
ASFA appoints Tim Buskens as chief operating officer
The Association of Superannuation Funds of Australia (ASFA) is pleased to announce the appointment of Tim Buskens to the newly created role of Chief Operating Officer. Tim will begin the role on 28 April 2014. Mr Buskens joins ASFA with more than 20 years’ experience in the financial services industry, most recently as Head of
March 20, 2014
Rice Warner expands in response to client demand
Australia’s leading consultancy for the financial services sector has today announced a major restructure and the appointment of several key personnel. This reflects underlying demand for its services throughout the life insurance, superannuation and wealth management sectors. The business has been organised into three key teams, namely life insurance, superannuation and investments and a new
March 20, 2014
In focus: Eye on the asset pie
Brendan Swift asks just how much the industry has learned some six years after the market catastrophes that defined 2007-08. The global financial crisis (GFC) forced the wealth management industry to reconsider long-held tenets about portfolio construction and the role of strategic asset allocation. Full In Focus feature, Eye on the asset pie, available here. The
March 20, 2014
Exclusive: FPA chair says professionals ‘cannot support’ FoFA commission amendment
The government should resist attempts by institutions to create a system that allows them to drive the sale of product through their own networks without an obligation to investigate the needs of the consumer or to provide a solution that is in the consumer’s best interests. By Matthew Rowe. I stand for the consumers of Australia.
March 19, 2014
Fighting this fire is a test the profession can’t afford to fail
There is a battle being waged at the moment for the trust and the confidence of the Australian public. It might be the financial planning industry’s first real test of professionalism, and it’s a test it cannot afford to fail. When amendments to the Future of Financial Advice legislation become the topic of major newspaper
March 19, 2014
