Product innovation helps deliver strong growth for Australia’s direct life insurers
Innovative product development coupled with speed to rationalise non-performing offers has helped underpin strong growth in Australia’s direct life insurance segment. In the 12 months to December 2013, direct life insurance sales accounted for $558.1 million, with in-force annual premiums worth $1,459.3 million for the same period. This represents significant growth over the 2013 year, as
May 29, 2014
ASIC gives thumbs-up to 10-point plan to raise standards, weed out bad apples
The Australian Securities and Investments Commission (ASIC) has given the thumbs-up to a 10-point plan produced by the Financial Planning Association of Australia (FPA), with ASIC commissioner and deputy chair Peter Kell labelling it “important” for industry bodies to be proactive in raising standards across the board. “ASIC is very pleased to see the FPA
May 28, 2014
Why effective communication is the key to a healthy mentoring relationship
Based on a number of my recent conversations, it appears that there is a healthy respect for the value of mentoring – formal or informal – among financial advisers. At the same time, in the context of last month’s article on governance, I think that more people could benefit from a mentoring relationship; and some
May 28, 2014
High-quality professional advice aligns the service with the fee, not the product
The opportunities for self-managed super fund (SMSF) specialists have never been greater. That’s the only conclusion that can be drawn from the latest research by SPAA and Russell Investments. The fourth annual Intimate with Self-Managed Superannuation report shows that despite a softening in net SMSF establishments in 2013, the sector continues to enjoy solid growth,
May 28, 2014
Cbus, FPA financial advice partnership set to go national
Industry superannuation fund Cbus is planning a national roll-out of its financial advice partnership with the Financial Planning Association of Australia (FPA). The program currently remains in its pilot phase after being implemented in a limited capacity from January this year, as reported by Professional Planner: FPA to advise Cbus members. It will soon be available
May 26, 2014
Why membership matters, but membership structure matters even more
The question of which association you belong to might be about to get a whole lot more important. Is the one you belong to a “first-level” professional association, comparable the Law Society, the Australian Medical Association (AMA), the Institute of Actuaries or the Australian Veterinary Association? If the start of the Senate Economics Legislation Committee
May 26, 2014
More twists than an Agatha Christie novel, but this story deserves a good ending
The delay to the implementation of the FoFA amendments provides a welcome opportunity to pause and reflect. But Mark Rantall says that now it’s time to finalise the details once and for all. Australia’s Future of Financial Advice (FoFA) reform process has absorbed many hundreds of hours over several years, involving all sides of politics; the efforts
May 26, 2014
Investor Trends Report: Foundations & Endowments
eVestment’s latest report, “Investor Trends Report: Foundations & Endowments,” looks at allocation decisions and market exposures among foundations and endowments (F&E) around the world. The report looks at the allocation decisions over the twelve-month span ending Q1 2014. Key points, according to eVestment Vice President of Research and report author Peter Laurelli include: – F&E
May 25, 2014
FIIG clients oversubscribe $100 million bond issue
Fixed income specialist FIIG Securities is pleased to announce the oversubscription of its largest ever bond origination, a $100 million wholesale corporate bond issue for Adani Abbott Point Terminal Pty Limited (AAPT). Once issued, the 6-year bond, which is rated investment grade by Standard & Poor’s and Moody’s, will offer a fixed rate of interest
May 25, 2014
For best results, work with volatility, not against it
If investors are to continue capitalising on the gains achieved since the depths of the global financial crisis, they should think twice about trying to remove volatility from equity portfolios. So says John Birkhold, partner at global equities investment manager Origin Asset Management, as part of a broader analysis of recent global equity trends and
May 23, 2014
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
