Financial planners seeking alternative approaches to bridging the risk gap
Following the GFC, more investors have been turning to strategic risk allocation as a way of combating the excessive potential risks associated with equities, as James Walker-Powell and Louis Seco explain. When you look at the movements between traditional growth assets – such as Australian shares, international shares and listed property – over the past
March 31, 2014
Rubik completes revenue and commission management software acquisition
Rubik Financial Limited (Rubik, ASX code: RFL), Australia’s largest provider of financial services software, has completed the acquisition of Easy Dealer group’s revenue and commission management software business. Strategic Importance Revenue and commission management software for Australian Financial Services Licensees and financial planning practices provide automated management of revenue, including commissions and client fees as well as relevant business information reporting. Rubik
March 28, 2014
FoFA delay provides a welcome chance to clarify ‘advice’: AMP
The word “advice” as used in the term “general advice” is a problem, says Steve Helmich, executive director of financial planning at AMP. “You could argue that it should be called ‘general information’, because general advice is basically advice around product, not whether the product is right for the individual,” says Helmich, the head of
March 28, 2014
This road leads to financial planning, mortgage broking expansion
It’s coincidence, but Yellow Brick Road’s announcement of an ambitious non-bank financial services strategy could hardly have been made at a better time. As banks continue to cop flack for their apparent efforts to reintroduce conflicted remuneration to the financial planning scene, YBR has unveiled a strategy to substantially extend the reach of its financial
March 28, 2014
Australian investors optimistic about reaching financial goals
Australian investors are optimistic about reaching their financial goals by an overwhelming majority, according to the Franklin Templeton Global Investor Sentiment Survey conducted earlier this year. The online survey was conducted in twenty-two countries, including Australia, China, Hong Kong, India, Japan, Korea, Malaysia, and Singapore in the Asia Pacific region. ACHIEVING FINANCIAL GOALS BY STAYING
March 27, 2014
Guardian launches Centres of Influence Strategy Guide
Guardian Advice has launched a ‘Centres of Influence’ (COI) Strategy Guide to help advisers build a robust referral network to increase sales and build the asset value of their business. “Finding new clients is key to sustaining and growing a thriving practice. Our goal is to train advisers to form new centres of influence, or
March 26, 2014
JANA and MLC create unique offering in Australian market
NAB today announced it is bringing together JANA and MLC Investment Management to create a world class investment research, advisory and portfolio management business. The combined business will better utilise the broad range of investment skills across the two businesses, enhance investment outcomes and product solutions for clients, and position the business to capitalise on
March 26, 2014
Financial planning industry ‘quietly confident’ FoFA delay will allow consensus
The financial planning community remains confident it can reach a timely, satisfactory outcome on the government’s FoFA reforms, despite the pause announced this week by Finance Minister and acting Assistant Treasurer Mathias Cormann. “We’ll be able to find a landing spot on this, as long as there are not embedded product commissions,” says Matthew Rowe,
March 26, 2014
ASIC still has teeth to police financial planners, despite FoFA delay
The Federal Government’s pausing of its Future of Financial Advice (FoFA) amendments is adding to regulatory uncertainty for financial planners and industry regulators, according to Richard Batten a partner in law firm Minter Ellison. “It’s a difficult position for everybody, and it does increase the risk and uncertainty for everyone,” Batten says. According to a
March 26, 2014
While FoFA is on pause, let’s remember what it’s all about
A newspaper editor once described reporters as being like lightbulbs: when one goes “phut!” you just screw in a new one; they all generate about the same amount of light and heat. Politicians are a bit the same. Take one out, put another one in – the heat and the light is pretty much unchanged.
March 26, 2014
Bill Bachrach’s guide to staying sane and surviving FoFA: First, turn off the TV
Sometimes it takes a fresh set of eyes to put long-running events into a manageable perspective. Bill Bachrach, the renowned consultant based in the US but a regular visitor to Australia, has some sage advice for financial planners who have suffered through the five-year Future of Financial Advice reform process. As Bill Bachrach sits down
March 23, 2014
PAF establishment numbers reflect adviser engagement and philanthropy upswing
Australian Philanthropic Services (APS) has experienced a significant increase in the number of individuals setting up private ancillary funds (PAFs), suggesting a growing number of financial planners who are having productive conversations with clients about structured philanthropy. Chief executive officer of APS, Antonia Ruffell, says the firm has helped clients set up as many PAFs
March 23, 2014
