A safe job doesn’t change the need for adequate insurance
Any job has risks and a client needn’t have one of the most dangerous jobs in Australia to require adequate protection to safeguard them against the unexpected. Findings from the Actuaries Institute show that one in three working Australians are likely to become disabled and unable to work for up to three months before turning 65.
January 17, 2014
Investor flows for hedge funds down in December but up for 2013
The latest eVestment Hedge Fund Asset Flows Report covers trends in the hedge fund world for the month of December and all of 2013. A few highlights are below. 1) Investors illustrated their disapproval of macro funds’ 2013 performance with their largest monthly redemptions since December 2008. 2) Macro and managed futures fund redemptions were the
January 17, 2014
Kardinia expands team with new appointment
Kardinia Capital has appointed Peter Lucas to the role of Investment Analyst, expanding its investment team – headed up by Portfolio Managers Mark Burgess and Kristiaan Rehder – to three. Peter joined the team on 6 January. Previously, Peter was Executive Director – Head of Melbourne Institutional Sales with Nomura Australia, where he played a
January 17, 2014
Helmich elevated, Waddell out in AMP reshuffle
Financial planning industry stalwart Steve Helmich has been promoted to executive director of financial planning at AMP in a management reshuffle that will see Andrew Waddell leave the company. Waddell, who was director of advice – strategy and development, will leave AMP on a date to be announced. The restructuring simplifies the top-level management of
January 16, 2014
End-to-end connections coming to life
Insurance technology business integration provider Konnect Net has created an end-to- end hosted referral system solution for a major general insurance company. It is an example of the efficiency the company has already brought to the life insurance sector in New Zealand, and plans to bring to the Australian life insurance market in 2014. “We got
January 16, 2014
How to handle the major investment risks of 2014
At a time of growing optimism in markets, worrying about risk isn’t in vogue. But the current investment environment, and the ways it could develop, are complex, uncertain and risky. An investor needs to be as aware of risk as they are about finding opportunities for returns. Their investment portfolio needs a robust, forward-looking investment
January 16, 2014
Treasury paper quantifies “big four” FoFA cost-saving measures
A Regulation Impact Statement prepared by Treasury has quantified the “big four” largest cost savings in proposed amendments to the Future of Financial Advice (FoFA) rules. The paper, published in November last year, calculates an ongoing total cost saving figure of $191.3 million a year from the government’s proposed amendments, and $87.7 million a year
January 16, 2014
Four areas for ETF investors to watch over 2014
As shown in the State Street Global Advisors December ETF snapshot, investor thirst for developed market equities drove the global ETF industry to $US2.4 trillion at the end of last year. This was a similar experience in the Australian ETF industry, where equities where the main driver behind the 52 per cent boost to AUM.
January 16, 2014
UBS Global Asset Management launches its first dividend ETF in Australia
UBS Global Asset Management launches UBS IQ Research Preferred Australian Dividend Fund (ASX code: DIV) in response to strong demand for yield UBS Global Asset Management’s first dividend ETF (DIV) in Australia has been brought to market at a time where lower cash rates and government bond yields are driving demand for income producing investments,
January 16, 2014
Financial Index keeps on acquisition path
Financial Index Wealth Accountants is still on the hunt for large accounting firms and quality advice businesses, following the announcement of the group’s 46thacquisition. Financial Index Wealth Accountants, which announced its acquisition of Centric Wealth on Sunday, will keep and invest in the Centric Wealth brand but move to a shared back-office arrangement for compliance,
January 14, 2014
A year of transactions: Chase
Merger and acquisition activity in the financial planning and accounting space is heating up with 2014 shaping up to be a year of transactions, according to Chase Corporate Advisory, who advised Financial Index on its recent acquisition of Centric Wealth. The firm, which is a specialist adviser to mid-tier financial services and professional services firms,
January 14, 2014
AMP backs corporate super
A number of AMP Financial Planning practices have recently sold their corporate superannuation books back to AMP under Buyer of Last Resort arrangements, as the value of corporate super businesses suffers due to the Future of Financial Advice reforms. A spokeswoman for AMP said it was not uncommon for financial planning firms to review and
January 14, 2014
