Helping financial planners get to the bottom of what women want
Financial planners need to boost women’s confidence in finance and investing in order to harness the growing clout of females when it comes to money. Financial services executive, Patricia Curtin, told a “Women want more!” session at the 2014 SPAA SMSF National Conference in Brisbane that the role of women in financial affairs is growing,
February 23, 2014
Changes to licensing regime a ‘perfect storm’ for accountants
Accountants are in the box seat to capture a significant part of a newly emerging “advice space” being driven by legislative changes affecting both financial planners and accountants, according to Kath Bowler, director of Kath Bowler Consulting. Bowler said accountants are being forced from one direction by the end of the so-called accountants’ licensing exemption in 2016, and financial planners are being forced from the other direction
February 20, 2014
Mason calls for promotion of trust and confidence
The patron of the SMSF Professionals’ Association of Australia (SPAA), Sir Anthony Mason, has called on all participants in the financial services industry to promote trust and confidence in the industry by placing a commitment to professional standards above all. Opening the 2014 SPAA SMSF National Conference in Brisbane, Sir Anthony also said the likely effects of amendments to the Future of Financial Advice (FoFA) legislation had
February 20, 2014
Sinodinos ‘happy to have a look’ at limited licensing for SPAA members
The Assistant Treasurer, Senator Arthur Sinodinos, has committed to examining whether the limited licensing regime can be extended to members of the SMSF Professionals’ Association of Australia (SPAA). The chief executive officer of SPAA, Andrea Slattery said SPAA has “specialist members who are seen and are known to have extended themselves beyond that which is expected by the government, and the minimum standard”. “The opportunity for
February 20, 2014
Six steps to doing a better job than a pigeon, a rat or a monkey
Six years based in the US as Russell Investments’ chief investment officer has taught Pete Gunning that advisers to self-managed super funds could do worse than heed six lessons he has learned. Gunning, who is now Russell’s Asia-Pacific chief executive officer, told the 2014 SMSF Professionals’ Association of Australia (SPAA) SMSF National Conference in Brisbane
February 20, 2014
SMSF Specialist Auditor accreditation gets RG146 recognition
A significant frustration for SPAA members has been overcome after the association secured RG146 recognition of its SSA accreditation. SPAA’s Head of Education, Liz Ward, announced at the Pathways to Accreditation session, that those who have completed SSA can now say it satisfies the RG146 minimum training standards for providing financial advice. Ward said members
February 20, 2014
Lack of competence, professionalism a ‘real risk’ in SMSF advice
Advisers to self-managed super fund (SMSF) trustees must demonstrate independence in the advice and services they offer, and focus on value-added strategic advice rather than sales or transactions, according to new research. The SMSF Professionals’ Association of Australia (SPAA)/Russell Investments Intimate With Self-Managed Super research, released yesterday, reveals a ongoing shift in SMSF trustee demographics,
February 18, 2014
SMSF investment process is broken, but a good financial planner can fix it
The investment goal setting and portfolio construction processes of SMSF trustees are flawed and leave them open to considerable risk as they negotiate the transition from accumulation phase to retirement. The 2014 SMSF Professionals’ Association of Australia (SPAA)/Russell Investments Intimate with Self-Managed Superannuation research, released yesterday, has identified a major opportunity for advisers to introduce
February 18, 2014
Slattery’s challenge to SPAA members: time to commit to professionalism
It is time for all members of the SMSF Professionals’ Association of Australia (SPAA) to commit to standards of ethics and behaviour and technical competence that befit a true profession, according to SPAA’s chief executive officer, Andrea Slattery. As SPAA prepares for its 2014 national conference in Brisbane, Slattery says SPAA has made enormous strides
February 18, 2014
Leading sports administrator joins SPAA as chief operating officer
The SMSF Professionals’ Association of Australia (SPAA) has appointed Jacqui Murdoch as its Chief Operating Officer (COO) effective immediately. She will have administrative oversight of SPAA, the pre-eminent association in the self managed super sector that is fast approaching one million trustees and has more $500 billion in assets under management. Jacqui established a management
February 17, 2014
Stackpool’s consumer call-to-arms puts financial planning industry on notice
Veteran financial planning consultant Jim Stackpool has launched a spirited campaign to educate the public about the benefits of seeking advice from non-conflicted, independent financial planners, and to introduce a new certification standard for financial planning firms that measure up to certain criteria. The following is an edited transcript of a speech given by Stackpool
February 14, 2014
Apart from conflicts of interest, why else do planners avoid asset-based fees?
When an asset-based fee is equated to a commission – or described as “commission by another name” – it elicits a heated response. We saw that notably in a recently reported exchange between David Whitely of Industry Super Australia (ISA), Mark Rantall of the Financial Planning Association of Australia (FPA), and John Brogden of the
February 14, 2014
