Individual personalised risk advice and the best interests duty
Typically a risk insurance dispute will arise when the insurer decides to avoid the policy. Quite often it is on the basis of non-disclosure on the part of the policy holder because the wording of the policy limits what is not covered. The next step is to examine the conduct of the financial adviser who
May 05, 2014
Investing is not about who’s most beautiful, it’s about who the judges prefer
In the long run the market is a weighing machine but in the short run it counts votes. Eventually, fundamentals will determine the right price but eventually can be a long time coming. In the meantime, being right at the wrong time is frustrating, career-threatening and expensive. This is what John Maynard Keynes was getting
May 05, 2014
Research reveals a major roadblock, but also shows the way around it
Three pieces of high-quality research, all released this week, highlight the massive divide that exists in people’s perceptions of financial planners, and the enormous challenge that financial planning still faces to be taken seriously as a profession in this country. On the one hand we saw the release of the Lifeplan Financial Advice Satisfaction Index,
May 02, 2014
Opportunity for advisers in limited MDA platforms
With the Australian Securities and Investments Commission (ASIC)’s 2013 proposal to change requirements around limited managed discretionary account (MDA) platforms appearing to be on hold for some considerable time, the time could be right for advisers to start including them in their suite of service offerings, according to The Fold Legal (the Fold). The Fold’s
May 01, 2014
Colonial First State launches SMA
– 11 model portfolios covering various asset classes, investment types and risk profiles – Frees up advisers to spend more time with their clients – Centrally managed by Commonwealth Private Investment Managers Colonial First State (CFS), in conjunction with Commonwealth Bank of Australia (CBA)’s Business and Private Banking team, have launched a Commonwealth Private Separately
May 01, 2014
BetaShares surpasses $1 billion in funds under management
BetaShares, a leading Australian ETF provider, has surpassed $1 billion in funds under management (FUM), three and a half years after launching its first products in the Australian market. BetaShares launched its first ETF in December 2010, and has since become the fastest-growing local provider of exchange traded funds, with 13 different products currently available
May 01, 2014
BT denies Wrap lacks transparency and withholds crucial client information
BT Financial Group has rejected claims that BT Wrap lacks transparency and that it has refused to divulge crucial information needed to manage client portfolios. The managing director of boutique fund manager Sirius Fund Management, Keiren Kelly, said he has spent six months trying to obtain information from BT Wrap in a series of email
May 01, 2014
Regulatory compliance absorbs half of platform development spend
Regulatory compliance absorbed approximately half of platform development expenditure in 2013 but intense competition continued to drive improvements in functionality, according to a new report from leading wealth researcher Investment Trends. Based on comprehensive face to face reviews of 25 leading master trust and wrap platforms, the tenth edition of the Investment Trends Platform Report
April 30, 2014
Cheap and nasty: the real cost of discount dealers
There are super-cheap dealer groups around willing to license financial advisers for as little as $1050 per month plus GST. For this cut-throat price, authorised representatives have access to traditional dealer services such as licensing, research and technical support. The website of one discount dealer group proudly boasts it has 50 advisers on board. Based on
April 30, 2014
Why vertical integration should stop with the licensee, not start there
The second partner firm to join Bombora Advice will be in place by the end of the month, and the firm is on track to have five partner firms in place by June 30. The second firm to join the group will be the Brisbane-based Personal Risk Professionals (PRP), which currently operates under the National
April 30, 2014
A new era: the rise of the financial planning academic
The roots of financial planning are in insurance agents and stockbrokers who sought out a way to deliver better advice and guidance to their clients. Similarly, the roots of financial planning education have long been in “adult education” certificate programs that took experienced and active advisors back to school to gain the educational knowledge they
April 30, 2014
Towers Watson urges investors to reassess equity portfolios
Institutional investors should revisit their approach to constructing equity portfolios in order to take advantage of innovations in the industry, according to an article in Towers Watson’s new publication: Global equity investing: Insights into a better portfolio. The article notes that investors have been diversifying away from equities in recent years, yet insists that the
April 28, 2014
