Is real estate in your super fund even worth it?
A lot of the debate about property in self-managed super funds has missed a bigger issue: is there a reasonable investment case for it being there in the first place? Dug Higgins explains. As we look back on 2013, if one thing will stick in my memory it’s the seemingly endless debate around geared property
December 12, 2013
Small business needs certainty on tax treatment of trusts
The Federal Government should move to finalise reform to laws governing the taxation of trusts, with interim legislation passed by the previous government hampering the small business sector, according to Australian accounting firm, Crowe Horwath. Five weeks ago the government stated that it would review 92 announced but not legislated tax and superannuation measures. Reform
December 12, 2013
Media blamed for alarmist SMSF reporting
Sensational media reports that claim a large and rapidly growing number of self-managed superannuation funds are gearing up to invest in property are unsupported by data, according to the latest SMSF data. The Heffron SMSF Borrowing Data Report showed only 12 per cent, or 208, of the 1,700 SMSFs administered by Heffron had a Limited
December 10, 2013
Investor/funds manager mismatch
Investors have no plans to increase their exposure to hedge funds and aren’t interested in buying multiple products from one funds manager, according to Ernst & Young’s seventh annual survey of the global hedge fund market. A new report by EY titled: Exploring pathways to growth, found a major discrepancy between the expectations of investors
December 10, 2013
It’s not what you know, but what you can prove
The 2012 case of Tomasetti v Brailey in the New South Wales Supreme Court examined a wide range of issues including negligence, misleading or deceptive conduct, breach of contract, and a breach of the Corporations Act. In this case, the plaintiff (Tomasetti) was a lawyer and the defendant (Brailey) was his accountant and financial planner.
December 10, 2013
Cover story: People power
Clients telling their stories in their own words will be a prominent feature next year, as the financial planning profession addresses persistent misconceptions and promotes the value of advice directly to consumers. Simon Hoyle reports. During 2014, the Association of Financial Advisers (AFA) and the Financial Planning Association of Australia (FPA) will separately take their
December 10, 2013
What is Cut + Paste?
Cut + Paste is a section on the Professional Planner website that contains news releases, statements and other information from organisations active in financial planning and related areas. Its aim is no more complicated than to convey that information to you directly from those organisations. It started in December 2013. Everything published in Cut +
December 06, 2013
Quiet achiever adds 50, almost doubles revenue
Australian Unity Personal Financial Services, the financial advisory arm of Australian Unity, has plans to grow its network to 100 practices by 2017, and with a strong focus on forging partnerships with accountants. The group, which currently has 63 practices and 117 advisers concentrated in Melbourne and Sydney, had referral partnerships with 242 accounting firms
December 06, 2013
Time to unwind: FPA
Financial planners should relax over the Christmas period, with the Financial Planning Association predicting that 2014 will be an easier year than 2013. FPA chief executive Mark Rantall said the outlook for the financial planning industry was positive with much of the regulatory reforms bedded down and a recent FPA/Galaxy Research survey finding 92 per
December 06, 2013
What’s keeping executives up at night?
Reputational damage is the biggest concern of business executives in financial services and other industries followed by business model, economic trends and competition, according to a global survey by Deloitte. The results of the 2013 Deloitte/Forbes Insights Global Strategic Risk Survey vary significantly from three years ago, when reputational risk was ranked third behind brand
December 06, 2013
Assembling the dream team
Few employers take the time to seriously think about their dream employee and what they need to do to attract that calibre of person. Practice principals are so busy “doing” that they forget to spend time thinking about the key characteristics they want their staff to possess. One common mistake is to focus on qualifications
December 06, 2013
ASIC to reveal shadow shopping report, FPA update
The Australian Securities and Investments Commission is on track to release its latest shadow shopping report next year, with the regulator’s mystery shoppers focused on financial advisers who ‘churn’. According to the Financial Planning Association’s general manager of policy and conduct Dante de Gori, who recently met with ASIC and several life companies to discuss
December 05, 2013
