Trading numbers on the rise for BEAR fund
While Australian equities are trading near six year highs, trading volumes in BetaShares exchange traded products (ETPs) reveal that a growing group of investors are positioning their portfolios for a potential pullback in the market. According to BetaShares’ data, the average daily value traded of BetaShares Australian Equities Bear Hedge Fund(ASX Code “BEAR”) has increased
June 03, 2014
Wronged clients of Commonwealth’s financial planning still on hold
A number of former customers of Commonwealth Bank of Australia-owned financial planning licensee Financial Wisdom (FinWiz) remain unclear about where they stand in seeking compensation for bad financial advice they received between 2008 and 2010. Professional Planner has learned from two former clients of disgraced North Queensland financial planner Rollo Sheriff, who was a co-owner
June 02, 2014
Licensees to thrill: the best financial planning licensees of 2014
A number of common themes unite the top five licensees in this year’s CoreData survey of financial advisers’ attitudes toward their dealer groups. And the top-five list also reveals some outliers. Glenn Freeman reports. The Licensee of the Year survey conducted by CoreData has been run and won for another year, with a number of
June 02, 2014
Can you do your job better than I could do it? OK, but how would anyone know?
Over the years – over many years – I have delighted in baiting successive chief executives of various financial planning associations with the thought that if it’s possible for me to join their association then its barriers to entry are too low. Last July, to my dismay, one avenue for such petty bastardy was closed
June 02, 2014
Market Vectors Australian Property ETF (MVA) awarded 4-star ‘superior rating’
Market Vectors ETFs, the exchange traded fund business of Van Eck Global, today announced that its Market Vectors Australian Property ETF has received a four-star superior rating from SQM Research, an independent property advisory and forecasting research house. Matthew McKinnon, Director, Intermediary and Institutions, Market Vectors Australia said, “We are thrilled to receive a four-star
June 01, 2014
Killing off innovation is not the regulatory outcome we are looking for
Financial planning industry consolidation driven by regulatory uncertainty is stifling product innovation to the detriment of both financial planners and their clients, according to the managing director of Instreet Investment, George Lucas. “That’s already started happening, and in future there will definitely be less products offered by independent financial advisers,” Lucas says. He describes this
May 30, 2014
Are you willing to pay the price for a ticket on the gravy train?
Of all the revelations that have been uncovered in investigations by the ABC and Fairfax Media into Commonwealth Financial Planning (CFPL), the one that stood out was the former CFPL financial planner Don Nguyen’s claim that “he did not know” that what he was doing was wrong. We’re not privy to exactly what Nguyen means
May 30, 2014
Some light birthday reading: Five go on a taper tantrum
May marks the one-year anniversary of the Bernanke bombshell, remarks from the then chairman of the Federal Reserve that sent shockwaves through financial markets. What he said was uncontroversial but it sent a powerful message. The US monetary stimulus that had underpinned global markets could not continue indefinitely. For investors in denial about the eventual
May 30, 2014
Silver lining for healthcare property investors
Putting aside the fight brewing between the states and the Commonwealth over public healthcare spending, there could be a silver lining for investors, says Chris Smith, head of healthcare and retirement property funds at Australian Unity Investments. “As it becomes more difficult, and more expensive, for governments to fund growing healthcare needs, an increasing number
May 29, 2014
ANZ significantly enhances OneCare Express
ANZ has announced new technology and process enhancements to OnePath’s OneCare Express offering, as it continues to evolve its superior life insurance solution that meets adviser’s and their clients’ insurance needs. Gerard Kerr, ANZ Head of Life Insurance said: “We are continuing to enhance OnePath’s OneCare Express to make it more efficient and faster for
May 29, 2014
Whitepaper advocates that professional services outsourcing is less motivated by cost
The most successful organisations have derived value from outsourcing in many ways beyond cost cutting. A recently released white paper postulates that businesses are able to drive growth, manage the challenges of attrition and provide value to their customers through outsourcing. The paper, titled Beyond Cost Cutting: Driving growth & efficiency in the accounting &
May 29, 2014
AMP Capital’s responsible investment funds to clamp down on fossil fuels
AMP Capital has formally excluded companies that have a material exposure to the most intensive fossil fuels from the investible universe of its Responsible Investment Leaders (RIL) range of funds. In response to client demand, the RIL Charter of Operation, which guides the investment decisions of the RIL funds, has been amended to ensure the
May 29, 2014
