Can’t get no satisfaction? Find out how your licensee stacks up
Leading research firm CoreData’s annual Licensee of the Year research is now in the field, and Professional Planner readers are invited to take part in the 2014 research. The research aims to assess how well dealer groups across the industry meet the needs of financial planners, risk advisers, practice principals and paraplanners within their networks.
March 04, 2014
Is online advice a better mousetrap, or just a trap?
Financial Index Wealth Accountants’ development of an online advice service has clearly struck a nerve among Professional Planner readers. In a poll launched on the day Findex formally launched its Movo financial planning website, a clear majority of respondents say they perceive online advice as a threat to the quality of advice provided. At the
March 04, 2014
What if account-based pensions are deemed?
The rules for assessing account-based pensions are set to become less favourable with a move to deeming proposed from January 1, 2015. Louise Biti explores whether this creates a negative impact for clients. The favourable Centrelink and Veterans’ Affairs (DVA) income test assessment of account-based pensions means that often very little (if any) assessable income
March 04, 2014
AMP launches Super product for growing middle market employer segment
AMP has launched a new corporate superannuation solution for the growing middle market, a segment which now accounts for 25 per cent of Australian workers. AMP SignatureSuper Select will offer medium sized companies with between 50-750 employees a sophisticated corporate superannuation product with over 30 investment options, flexible insurance arrangements, a tiered pricing structure and
March 04, 2014
Compliance and admin costing planners at least $15,000 a year too much
Australian financial planners could earn up to $15,000 a year of additional revenue by reducing compliance and administration activities to global averages, new research has found. The CoreData Adviser efficiency: Business Processes in Australia report shows that almost a third of an Australian financial planner’s time is spend on compliance and administration, compared to a global average of
March 01, 2014
Time to take control: financial planners urged to shape the future they want
A particular cohort of the financial planning profession is sometimes referred to as the “old and bold”. But as the profession evolves away from a culture rooted in sales to one focused on service, a new term is needed to describe the advisers who are embracing change and who are committed to the tenets of
February 28, 2014
Across the divide: Key policymakers speak out on amendments to FoFA
The principal architect of the review that spawned the Future of Financial Advice (FoFA) reforms, former Minister for Financial Services and Superannuation Bernie Ripoll, and the man who proposes to amend key elements of the FoFA legislation, Assistant Treasurer Senator Arthur Sinodinos, have spoken publicly about their respective views. READ SINODINOS’S COMMENTS READ RIPOLL’S COMMENTS
February 27, 2014
Why you shouldn’t let just a few stocks do all the heavy lifting
Australian shares have recently delivered robust returns: in the year to 31December 2013, the S&P/ASX200 Accumulation Index returned 20.2 per cent. However, a closer look at where this performance came from gives cause for concern. Far from being a broadly-based market rally, this return outcome was actually very narrowly based. A few stocks have done
February 27, 2014
Aged-care complexity continues, despite government reforms
Leading wealth management advisory firm, Centric Wealth, today said that despite the Federal Government’s Living Longer Living Better reforms, the aged care industry continues to be plagued by complexity and uncertainty, particularly in relation to bonds. An accommodation bond, or accommodation charge, is payable upon entry to an aged care facility by the majority of
February 27, 2014
AIA Australia pays advisers to move to a hybrid commission model
Leading life insurer AIA Australia has launched a new hybrid commission program, giving advisers an opportunity to increase the value of their new business. Called ‘Transition to Hybrid’, the program is designed to help advisers manage their cash flow as they move to a hybrid commission model, which can provide greater value than upfront structures
February 27, 2014
OneVue purchases MAP Funds Management
Wholesale SMSF solutions provider OneVue has purchased super trustee MAP Funds Management, a move OneVue has described as a strategic transaction ahead of its proposed listing on the Australian Stock Exchange (ASX) this year. MAP chief executive Jenni Erbel said MAP and OneVue have been collaborating on the development of various products and investment options
February 26, 2014
