Boost clients’ willingness to pay for advice
Financial planning has never been more competitive. There has been a proliferation of alternative advice models in the last few years while the cost of delivering advice, in many cases, is increasing. Advice firms, now more than ever, must have a deep understanding of their revenue and expenses, and how they impact on profitability. They
November 08, 2013
Accountants ponder Premium price
Dealer groups that have already developed licensing solutions for accountants, in preparation for the removal of the accountants’ exemption, will be forced to regularly reprice their offer before July 1, 2016 to stay relevant, according to Premium Wealth Management chief executive Paul Harding-Davis. Premium Wealth Management, the accounting and financial planning firm that spun out
November 07, 2013
Review to create level playing field
Boutique dealer, Madison Financial Group has reaffirmed its intention to pursue a vertically-integrated model, as Assistant Treasurer Arthur Sinodinos announced a review into whether vertical integration created an unfair advantage. Speaking at the Association of Independently-Owned Financial Planners national conference in Hobart on Thursday, Sinodinos said the government intended to look at whether the vertically-integrated
November 07, 2013
FPA ready to appear before Senate Inquiry
The Australian Securities and Investments Commission is inadequately resourced to fulfill its responsibilities, which has made it an ineffective, reactionary regulator, according to the Financial Planning Association. In its 53-page submission to the Senate Economics References Committee Inquiry into the performance of the corporate watchdog, the FPA said the regulator needed to do more work
November 07, 2013
A ClearView of the future as adviser numbers swell
Listed wealth manager ClearView has increased its adviser numbers by 46 per cent during a time when its fiercest rivals have struggled with deteriorating lapse rates and mounting claims on legacy products, according to the group’s managing director Simon Swanson. ClearView also established distribution agreements with 53 new dealer groups in the year ended June
November 06, 2013
Are the bulls preparing for a charge?
I’m a great fan of short investment books on the grounds that while investing is not easy, its underlying principles are simple. Kerry Balenthiran’s The 17.6 Year Stock Market Cycle certainly meets the brevity test – I’d read it twice this week within a day of the author handing me a copy. You’re into the
November 05, 2013
SSFS seeks referral deals for advice
State Super Financial Services, the advice business owned by SAS Trustee Corporation, will create formal referral arrangements with industry superannuation funds and other institutions to provide ongoing personal advice to more Australians. Peeyush Gupta, SSFS chair, said the group is actively seeking to partner with superannuation funds in a similar way to the recent deal
November 01, 2013
Total recall: the data necessity
The absence of efficient client relationship management (CRM) systems and processes will dramatically lower the value of a business. Brokers who are asked to value a financial planning or accounting practice will typically discount the sale value if the principals don’t have accurate client records sitting on a modern CRM platform. Most buyers understand that
November 01, 2013
Commitment and skills for super
People often talk about self-managed super funds (SMSFs) being time-consuming or requiring particular skills. Whether or not this is true depends on how much of the work trustees intend to do themselves. Pretty much anything can be outsourced, but of course each time you pay someone else to do something for you, the costs increase.
November 01, 2013
In Focus: taper time for mining sector
Global investors have been fretting about the impact of a possible US Federal Reserve tapering. But a new report from PIMCO warns that Australian investors should be factoring in the fallout from another form of tapering: the tapering of mining investment in Australia. Full In Focus feature, Taper time for mining sector, available here. In a
November 01, 2013
