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
Fear and greed vs risk
It’s that time of the year when fund managers and strategists forecast share market returns for the year ahead. Invariably a positive year is expected (no-one likes a Grinch) based on a number of indicators, be it economic or something a little less scientific say the sign of the zodiac. In fairness, the fact that
January 10, 2014
netwealth goes mobile, launches upgrades
netwealth is pleased to announce the first of many new exciting initiatives for 2014 including a new mobile web app, a range of enhanced transactions including bulk trading, and new model portfolio functionality. The mobile web app provides both advisers and clients access to a range of features including individual or aggregated reporting on portfolio
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
Retail and housing lifting: HSBC
Thursday’s retail and building approvals data provide more signs that Australia’s economy was re-balancing in Q4, according to HSBC chief economist Paul Bloxham. Retail sales rose by +0.7 per cent in November (market had +0.4 per cent) to be +4.6 per cent higher year-on-year. Building approvals dropped back a little in November, falling -1.5 per
January 09, 2014
FIIG and IRESS launch new service
Financial planners will have access to instant information about their clients’ bond portfolios following an integration initiative between specialist fixed income broker FIIG Securities and technology provider IRESS. FIIG Securities chief executive Mark Paton said the new service was another step in making fixed-income securities such as corporate bonds more accessible to ordinary investors. “With
January 09, 2014
