TAL and UniSuper preview the future of tech in the insurance sector
It is fair to say life insurers have not been at the vanguard of technology; but consumer and customer needs are driving the transformation of systems, processes and a service culture in an industry that historically has changed little over a long period. But within this industry, TAL has been at the forefront of technological advances in the domestic life sector. This
January 23, 2014
Macquarie Specialist Investments launches three new Significant Investor Visa funds
Macquarie Specialist Investments (MSI) has broadened its current Significant Investor Visa (SIV) offering with the launch of three new funds. The new funds – Conservative, Balanced and Growth – offer investors access to a diverse range of Australian-based asset classes including cash, fixed interest, listed property and equities. They complement two cash-only funds launched by
January 22, 2014
John de Zwart on a mission to “bring back the fun”
John de Zwart is on a mission – a mission to improve the professionalism and profitability of financial planning, and to restore to the business much of the satisfaction and fun that it used to provide to practitioners. Since mid-April 2013, de Zwart has been redefining the strategy for Professional Investment Services (PIS) and Associated
January 21, 2014
A true independent is born as Smythe strikes out on his own
The number of financial planning businesses that meet the Corporations Act definition of “independent” is tiny, but that number has now grown by one, after Heffron director Ben Smythe established his own firm in the Sydney suburb of Brookvale. Smythe Financial Management was established in October 2013 after a year of planning, operating with its
January 21, 2014
A giant awakes: Inside ANZ’s SMSF push
A partnership with SuperIQ underpins a broad strategy by ANZ to develop a comprehensive self-managed superannuation fund (SMSF) service. A second step involves working with groups such as the SMSF Professionals’ Association of Australia (SPAA) to train financial planners to establish SMSFs for clients. The bank’s SMSF strategy involved ANZ selling its wholly-owned accounting, tax
January 21, 2014
Tough time ahead for recruiting good financial planning staff
Financial planning remains a “candidate-short” market and the next six months at least will see fierce competition between firms to hire the best staff, according to a leading recruitment agency. Nick Murphy, regional director for recruitment firm Hays, says financial planning businesses need to “start thinking outside the box” when looking for staff and not
January 21, 2014
Super delivers best return in 20 years
2013 was an outstanding year for super funds, and especially those oriented to Australian and international shares. Resurgent share markets saw the median growth fund (61 to 80% invested in growth assets) return 17.5%, the best performance in the past 20 years and the second highest since the introduction of compulsory super in 1992. The
January 21, 2014
Dawning of a new Epoch: $1 billion FUM from retail and SMSF demand
The Grant Samuel Epoch Global Equity Shareholder Yield funds have surpassed the $1 billion mark in assets under management, more than doubling in size over the past 12 months, says Mr Andrew McKinnon, chief executive officer of Grant Samuel Funds Management. The funds are managed by New York-based equity manager, Epoch Investment Partners, having been
January 21, 2014
Smarter Money outperforms competitors over all periods in 2013
Morningstar data shows that YBR Funds Management’s Smarter Money fund, which is offered by Yellow Brick Road, significantly outperformed competing cash and bond funds over the past 3, 6 and 12 months as at 31 December 2013. Smarter Money is a fund with an “active cash” strategy that invests in Australian deposits and “investment grade”
January 20, 2014
Building a financial planning profession: renovate, or start again?
If the financial planning industry were a house and you were considering renovating and improving it, would you work with the foundation already in place or would you consider it a ‘knock down rebuild’? Since the government’s December 20 decision to significantly reduce the extent of last year’s Future of Financial Advice (FoFA) legislation, there
January 17, 2014
Professionalism first, daylight second. Who is in this race?
In the current debate about the public image of financial planning, there’s a clear opportunity for planners who adhere to a code of professional conduct to put daylight between themselves and those who don’t. The benefit that an individual enjoys if they are perceived to genuinely be a professional is sometimes referred to as the
January 17, 2014
Gupta’s grand plans
Peeyush Gupta wants to forge strategic referral relationships with industry and corporate super funds, hire more advisers, open new offices, and see it lead the debate on post-retirement in Australia. The group has also commenced a research project on managing longevity risk. According to Gupta, the high and rising cost of providing ongoing personal advice
January 17, 2014
