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
Saxo Bank’s investment outlook for 2014
Emerging Asia will become the world’s primary weak spot in 2014, according to online multi-asset trading and investment specialist Saxo Bank. Investment in that region has reached a staggering 43 per cent of GDP while growth has fallen to barely 6 per cent; the easy part of the growth cycle is long gone, and some
January 09, 2014
ETFs hit $10 billion milestone
ASX Group has announced that exchange-traded products (ETPs) have achieved the milestone of $10 billion in funds under management. ETPs have experienced strong growth, doubling funds under management from $4.9 billion in December 2011 to $10 billion today. This growth is attributed to an increased awareness of the product group by both retail and institutional investors
January 07, 2014
Has the industry shot itself in the foot?
To many people, FoFA was a revelation. Until then, it had not dawned on them that a financial planner didn’t have to place a client’s interests ahead of their own. The Future of Financial Advice reforms made it clear that clients’ interests would rank first, and by doing that the reforms created a new basis on
January 07, 2014
ANZ complete on M3 review
ANZ has completed a review of its its Millennium 3 dealer group and will improve the monitoring and supervision of its financial planners. The group has also promised to be more deserving of clients’ trust, after former Millennium 3 financial planner Melinda Scott pleaded guilty to seven fraud charges relating to $5.9 million in December.
January 07, 2014
