Why you shouldn’t let just a few stocks do all the heavy lifting
Australian shares have recently delivered robust returns: in the year to 31December 2013, the S&P/ASX200 Accumulation Index returned 20.2 per cent. However, a closer look at where this performance came from gives cause for concern. Far from being a broadly-based market rally, this return outcome was actually very narrowly based. A few stocks have done
February 27, 2014
Aged-care complexity continues, despite government reforms
Leading wealth management advisory firm, Centric Wealth, today said that despite the Federal Government’s Living Longer Living Better reforms, the aged care industry continues to be plagued by complexity and uncertainty, particularly in relation to bonds. An accommodation bond, or accommodation charge, is payable upon entry to an aged care facility by the majority of
February 27, 2014
AIA Australia pays advisers to move to a hybrid commission model
Leading life insurer AIA Australia has launched a new hybrid commission program, giving advisers an opportunity to increase the value of their new business. Called ‘Transition to Hybrid’, the program is designed to help advisers manage their cash flow as they move to a hybrid commission model, which can provide greater value than upfront structures
February 27, 2014
OneVue purchases MAP Funds Management
Wholesale SMSF solutions provider OneVue has purchased super trustee MAP Funds Management, a move OneVue has described as a strategic transaction ahead of its proposed listing on the Australian Stock Exchange (ASX) this year. MAP chief executive Jenni Erbel said MAP and OneVue have been collaborating on the development of various products and investment options
February 26, 2014
AMP North hits $10 billion FUA, up from $2 billion in just three years
AMP’s flagship wrap platform North has hit $10 billion in Funds Under Advice (FUA), a five-fold increase since it launched as a full wrap platform with $2 billion in FUA in 2011. AMP Director of Superannuation Patricia Montague said North’s strong growth was driven by investment in the platform features increasing its appeal to customers.
February 26, 2014
Findex adds a third arm as it takes financial planning online
Fresh from its successful bid for financial planning business Centric Wealth, Financial Index Wealth Accountants (Findex) has launched an online advice offering. Called Movo, the launch gives Findex presence in three key advice market segments: the high-net-worth segment through Centric; the mid-market through the Findex brand, which includes a telephone-based client service capability; and the
February 25, 2014
Don’t lose sight of who regulation is ultimately meant to serve
There’s an emerging trend in the debate about regulation of financial services around the world. It demonstrates that some people have apparently learned nothing from history, and are so blinded to what they should have learned that they are likely (and quite happy) to wreak the same havoc on investors and taxpayers next time around.
February 25, 2014
Avoid investment bandwagons if you don’t know where they’re going
Emerging markets represent 13 per cent of the value of the world’s stock markets today and a third of global economic output. That compares with just 1 per cent of market capitalisation and 18 per cent of global GDP 30 years ago. The developing world is no longer a niche interest for adventurous investors –
February 25, 2014
New dealer group launches low-cost investment solution
Independently-owned dealer group GPS Wealth has slashed investment fees in half by implementing a Managed Discretionary Account (MDA) solution and turning its back on expensive master trusts and wrap platforms. New clients of GPS Wealth pay an average investment management fee of between 0.6 and 0.8 per cent of assets under advice compared to fees
February 25, 2014
Sending out fee disclosure statements on December 19 was not a waste of time
They say in business, timing is everything. Rob Ferguson explains that when you get the timing completely wrong, that saying really hurts. For a variety of reasons, we decided to send out a significant batch of our fee disclosure statements (FDSs) on December 19, 2013. As many would appreciate, the preparation and execution was costly
February 25, 2014
AMP launches first whole of wealth App
AMP has launched Australia’s first fully integrated ‘whole of wealth’ mobile app to drive customer engagement with their finances – as Newspoll research shows a quarter of working Australians know little or nothing about their superannuation investments. The AMP.Own Tomorrow app is the first in Australia where customers can access their banking, superannuation, insurance and
February 23, 2014
Treasury invites input on how to deregulate SMSF sector
Treasury has invited the self-managed superannuation fund (SMSF) industry to provide views and ideas on reducing the regulation of the sector, as part of the government’s philosophy of reducing the regulatory burden on business. Rob Heferen, executive director of the Australian Treasury revenue group told the 2014 SPAA SMSF National Conference that “the broad philosophy
February 23, 2014
