Habits of the most successful financial advisers
The most successful financial advisers take their time picking up new technology, focus on the “client experience” and de-emphasise back-office trades, according to a new study from Fidelity Investments [in the US]. Fidelity identified “high-performing” registered investment advisers (RIAs) – those in the top quartile for growth, profitability and productivity, regardless of size. The firm,
February 11, 2014
AMP aims to let the client lead the way
In the shake-up of AMP’s financial planning operations last month, and after almost eight years running AMP Financial Planning (AMPFP), Michael Guggenheimer was also appointed managing director of Hillross Financial Services. The move is aimed at streamlining AMP’s management and Guggenheimer says it won’t affect the day-to-day operations of either AMPFP or Hillross financial planners.
February 07, 2014
Segmentation the key to better advice in retirement
Developing alternative and non-traditional ways of reaching and engaging clients is a key step in providing effective post-retirement advice, the managing director of State Super Financial Services (SSFS), Michael Monaghan. says. Monaghan says it’s important advisers understand that the emotional needs of clients after they retire are often very different from when they’re in the
February 07, 2014
Tax-deductible financial planning fees: An idea whose time has yet to come?
In the space of only a few hours, the Financial Planning Association of Australia flew its brightly coloured kite of tax-deductibility for financial planning fees, and the Assistant Treasurer, Senator Arthur Sinodinos, shot it down. Neither move was surprising, and neither move was unreasonable. But that should not be the end of the issue. Rather,
February 07, 2014
Why M&A activity will keep the market’s spirits up in 2014
Diageo is already the world’s No. 1 spirits company. To stay on top, it must continue to grow and that might be easier said than done if emerging markets remain a challenge. A notable feature of it recent results was a slow-down in the developing world, until recently the hot spot for luxury brands like
February 07, 2014
AMP Capital names new head of fixed income
Simon Warner has been appointed as Head of Fixed Income for AMP Capital, effective immediately. Mr Warner, who has held the role of AMP Capital’s Head of Macro Markets within the fixed income team for the past seven years, replaces Mark Beardow, who was announced as Chief Investment Officer of Specialist Investment Teams in December
February 07, 2014
Fund manager skill or luck? New analysis turns the question on its head
One of the enduring areas of asset management academic study, and practitioner query, is whether or not fund managers have skill. In his work, professor of finance at Stanford, Jonathan Berk, shows the answer doesn’t lie in returns at all, but in manager compensation. Determining whether active skill exists is not the same as looking
February 06, 2014
Roadblocks in post-retirement financial planning
A traditional approach to financial planning – where an investment outcome is dictated by an assessment of the client’s risk tolerance – is unsuited to producing effective solutions in the post-retirement phase, according to a leading investment consultant. Lukasz De Pourbaix, general manager of investment consulting for Lonsec, says the structural deficiencies are not the
February 06, 2014
Why low-cost compliance solutions could lead to a crash
Most people would never fly on an airline if the airline did not require its pilots to undergo regular simulator tests. Similarly, most pilots would not choose to fly for an airline that did not properly maintain its aircraft or took shortcuts on maintenance. The commercial airline industry expects pilots to undergo regular training in
February 06, 2014
Taliored approach to risk for the SMSF market
Like many of us, my working day starts with coffee. There are a number of vendors within the vicinity of the office, ranging from mobile coffee carts to Starbucks. There is a place in the coffee scene for all of them. Some people swear by the chains, while others prefer the local barista who knows
February 06, 2014
No distinction between fee types in renewed tax-deductibility bid
The Financial Planning Association (FPA) has put the issue of tax deductibility of financial planning fees firmly back on the agenda in its pre-Budget submission to Treasury. In its submission, the FPA argues that under the Future of Financial Advice (FoFA) regime, fees paid by clients to financial planners are explicitly non-conflicted. And where there
February 04, 2014
Financial planners challenged by collision of the Great Australian Dreams
The Great Australian Dream is to own one’s home. But increasingly, that dream is colliding with what’s been called the Second Great Australian Dream – to retire in comfort. Matt Lawler, chief executive officer of Yellow Brick Road Wealth Management (YBR), says there’s growing evidence that Australians are taking out mortgages later in life, taking
February 04, 2014
