Non-superannuation discretionary investments set to shine
A comprehensive analysis of the future of Australia’s non-superannuation investment sector reveals strong future growth enabled by technology and rising consumer demand for choice in the underlying investments. Wealth industry participants also look set to capitalise on this growth, with important new opportunities to find and grow new pathways into the market. This is a
February 18, 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
Topdocs further simplifies cash account applications for SMSFs
Financial advisers will be able to set up a self-managed super fund and apply electronically for a Macquarie Cash Management Account (Macquarie CMA) via the Topdocs’ Online Document Portal using just one online form. This not only removes the need for the adviser to log in and out of two separate websites to initiate a
February 18, 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
Refocus on soft skills to deliver the best post-retirement advice
After a considerable period when many financial planners have been focused on compliance and technical skills, the managing director of Securitor and Licensee Select for BT Financial Group, Matt Englund, says it’s time they were reminded of the value of the “soft” skills that go along with the job. Particularly when it comes to dealing
February 14, 2014
Lateral thinking and discipline to pick the winners in the new tech race
For those of us whose first experience of extraordinary stock-market delusions was the dot.com bubble at the end of the 1990s, the past few weeks have felt quite like the old days. In separate announcements, Facebook and Twitter have shown, first, why investors are once again falling in love with new technology and, second, the
February 14, 2014
Free your mind: Why Rick Di Cristoforo exited the matrix
After a decade at the helm of Matrix Planning Solutions, Rick Di Cristoforo says it was obvious the time had come for a change. Di Cristoforo delivered Matrix from the teeth of the global financial crisis (GFC), and then guided it through the upheaval of the Future of Financial Advice (FoFA) regulatory reform and the
February 13, 2014
Learning how to listen differently is the secret to great post-retirement advice
Financial planners need to develop a specialised set of skills to deal effectively with clients in the post-retirement phase of their lives, according to James Grant, executive manager of wealth management for Industry Fund Services (IFS). Grant says the challenges that financial planners face include “understanding the members’ goals and not automatically translating that into
February 13, 2014
Investors breath life into a falling margin lending market
Key findings of the Investment Trends September 2013 Margin Lending Investor Report: – Returning investor confidence is stoking some life into margin lending through the direct channel – The number of investors who plan to start using margin lending in the next 12 months is 37% higher than in 2012 – Existing margin lending users
February 13, 2014
