It’s financial product advice, not property, that worries ASIC
ASIC commissioner Greg Tanzer says ASIC has “no particular problem” with SMSFs investing in real property but it is concerned that advice to invest in property is being improperly provided to trustees. “People provide a financial service if they provide financial product advice,” Tanzer told the 2014 SPAA SMSF National Conference in Brisbane. Financial product
February 23, 2014
Pick me! Pick me! How pitching properly can be a financial planner’s greatest skill
Learning how to connect and engage with clients and potential clients is a crucial weapon in the financial planner’s armory that is too often overlooked in favour of technical skills and compliance issues. Andrew Klein, MC of the 2014 SPAA SMSF National Conference and director of presentation skills at Spike Presentations, says whether it’s a
February 23, 2014
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
Chant West: super fund performance to January 2014
A pull-back in major share markets sent super funds on the retreat in January. The median growth fund (61 to 80% allocation to growth assets) returned -0.9% for the month, pulling back the return for the seven months of the financial year to date to 8.4%. This was the first negative month this financial year
February 20, 2014
Smart beta assets double in a year
Towers Watson’s clients made over twice as many new investments in smart beta strategies during 2013, around $11bn across over 180 portfolios, compared to the year before (around $5bn across almost 130 portfolios) according to global data from the company. Towers Watson’s institutional investment clients globally have now allocated over $32bn to smart beta strategies
February 20, 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
Praemium to unveil SMSF functionality at SPAA National Conference
Praemium confirmed today that it would be unveiling its new SMSF functionality at the SMSF Professionals’ Association of Australia (SPAA) national conference, beginning tomorrow in Brisbane. The new software features will enable SMSF administrators to undertake fund compliance tasks, including tax lodgement, from within Praemium’s V-Wrap software. Praemium CEO Michael Ohanessian noted that this development
February 18, 2014
OneVue embraces new managed funds service
The ASX’s new managed funds settlement service will transform the market as it will ultimately reduce administration costs and make it far easier for SMSF investors to participate directly in the managed funds space, according to OneVue. OneVue chief executive Connie Mckeage said OneVue, which specialises in providing digital SMSF solutions to a range of
February 18, 2014
