Tips for giving gearing advice
Fugu, or pufferfish, is one of the most celebrated delicacies in Japanese cuisine. Prepared by expert chefs and served in paper-thin slices, fugu juxtaposes luxury with a high-stakes gamble because, if prepared incorrectly, the tetrodotoxin contained in fugu may cause paralysis, asphyxiation and death. One can draw an analogy between an expert fugu chef and
January 14, 2014
Centric board green-lights takeover bid
Long-running ownership uncertainty surrounding financial planning group Centric Wealth has ended after its board unanimously approved an 8.9c-a-share takeover bid from Financial Index Wealth Accountants. The founder and chief executive officer of FIWA, Spiro Paule, said in a statement that “the combination of the two businesses creates one of Australia’s largest, non-aligned financial advisory organisations”. “We
January 12, 2014
Findex to acquire Centric Wealth
Financial Index Wealth Accountants (“FIWA“ or “Findex”) has entered into a Bid Implementation Agreement (“BIA”) with high net worth advisory firm Centric Wealth Ltd (“Centric Wealth”), under which Findex has agreed to acquire all outstanding ordinary shares issued by Centric Wealth by way of an off-market takeover bid (“Offer”)*. Under the terms of the Offer,
January 12, 2014
Advisers threaten to breakaway from ANZ
Around 20 RI Advice practices are considering breaking away from the ANZ-owned dealer group, with accusations of mis-management, broken promises and a lack of investment into the group’s OneAnswer platforms. The 20 RI Advice proprietors including representatives from the group’s Proprietors’ Advisory Council will meet next month to discuss their future with ANZ. It is
January 10, 2014
Changes to FoFA shift planners’ focus
The debate around proposed changes to the Future of Financial Advice (FoFA) reforms has shifted to the role that codes of professional conduct and co-regulation will play in determining standards of behaviour and practice that exceed the minimum requirements set down by the law. A Professional Planner article earlier this week generated both criticism and
January 10, 2014
Computer-based testing for US CFP exams
Washington, DC – Certified Financial Planner Board of Standards has announced that it is transitioning to a computer-based testing platform for its CFP certification examination, offering individuals more accessibility to complete initial certification requirements. The move to computer-based testing (CBT) will be effective with the November 2014 exam. The final paper-based exams will be administered
January 10, 2014
New fund to focus on the short term
Antares Capital, the fixed income and equities manager backed by NAB Wealth and MLC, will launch a new income fund targeted at investors with a short-to-medium term time horizon by the end of March. The fund, which has been soft launched to MLC’s aligned network of advisers, will be managed by the Antares fixed income
January 09, 2014
Bank planners rethink their future
A growing number of bank planners are looking to break away from institutional control and run their own business, according to Connect Financial Services Brokers, which has experienced an influx of inquiries from salaried bank advisers interested in acquiring small client books. Changes to the remuneration models of bank planners spurred by the new Future
January 09, 2014
In Focus: Adding foreign flavour to the investment pie
In a low-return environment, Australian investors have more incentive than ever to look beyond the local market to boost their returns. Ben Power explains. Download a PDF of the full In Focus feature, Adding foreign flavour to the investment pie. Australian investors are struggling to find good opportunities, particularly with government bonds and banks overvalued, and
January 09, 2014
Has the industry shot itself in the foot?
To many people, FoFA was a revelation. Until then, it had not dawned on them that a financial planner didn’t have to place a client’s interests ahead of their own. The Future of Financial Advice reforms made it clear that clients’ interests would rank first, and by doing that the reforms created a new basis on
January 07, 2014
ANZ complete on M3 review
ANZ has completed a review of its its Millennium 3 dealer group and will improve the monitoring and supervision of its financial planners. The group has also promised to be more deserving of clients’ trust, after former Millennium 3 financial planner Melinda Scott pleaded guilty to seven fraud charges relating to $5.9 million in December.
January 07, 2014
Outlook for Japan in 2014
There is a new-found sense of confidence in Japan, however, there’s also enough scepticism among domestic institutions, economists and the media to suggest the Japan story is not overdone. Many investors remain on the side lines given the widely held belief that economic recovery will be thrown off track by April’s sales tax rise. With
January 07, 2014
