Bill Shorten: super nerd
A self-confessed superannuation nerd, Minister Bill Shorten has confessed to being “utterly excited by superannuation” and, in quieter moments, reflecting on the “sheer size of our system”. Speaking on Friday at the Australian Council of Trade Unions (ACTU) Investment Forum in Melbourne, Shorten used the opportunity to again sell the benefits of the council of
May 13, 2013
ASIC: “Wise up and do the right thing”
Regulating investment complexity without stifling innovation will increasingly challenge the Australian Securities and Investments Commission (ASIC) as global financial systems undergo significant structural change. Speaking at the Australian Shareholders’ Association (ASA) Conference, ASIC chairman Greg Medcraft committed the watchdog to addressing emerging risks to ensure confident and informed investors, and fair, efficient markets. Globally, new
May 13, 2013
Myth-busting life insurance ensures protection
Cost remains the main reason for people not holding life insurance but several myths persist about life cover, potentially to the detriment of Australian households. Online research conducted by Galaxy Research for the TAL Group found misconceptions such as “health insurance provides the same sort of cover as life insurance”, “the government will look after
May 13, 2013
Small-cap therapy for contrary investors
Angus Crennan says the twin challenges for advisers are articulating investment opportunities while managing client fear and greed are more complex than ever before. “It may be that buying the 10-year US bond at 4.5 per cent right now turns out to be one of the best trades for years to come.” A great quote
May 09, 2013
Government reveals shape of super changes
Minister for Financial Services and Superannuation Bill Shorten has confirmed the government’s intention to introduce legislation supporting two of its superannuation changes announced in April. It believes the changes will encourage Australians to contribute more to their superannuation later in life while allowing investors to withdraw or retain excess concessional contributions without penalty. “The government
May 07, 2013
Hillross rebrand attracts independents
Hugh Humphrey, managing director of Hillross, acknowledges that the Future of Financial Advice (FoFA) reforms have “many moving parts” but, aside from a few clarifications, the regulator has declared the AMP dealer group ready for the July 1 start. “There is still a bit more information to come particularly around final clarity on conflicted remuneration, implications
May 07, 2013
Dodgier than dentists, better than car salesmen
More ethical than car salesmen but a whole lot dodgier than dentists, financial planners are having little success in changing their public image, according to Roy Morgan research. The Roy Morgan Image of Professions Survey 2013 again found that nurses are most highly regarded, closely followed by doctors and pharmacists, with planners languishing in mid-table.
May 06, 2013
Opportunity in debt: PIMCO
Debt – with a capital D. That is the most important issue facing investors today. Quite simply, there is simply too much debt, especially in the developed world, and it is constraining growth, as well as adversely affecting fiscal and monetary policies. And there is no easy – or quick – solution in sight. Sadly,
May 06, 2013
Questions remain over Trio, St John reports
The Financial Planning Association (FPA) and the SMSF Professionals’ Association of Australia (SPAA) have broadly backed the government’s response to the parliamentary inquiry into the collapse of Trio Capital and the Richard St John report. However, both queried elements of the parliamentary response while the opposition accused the government of dragging its feet on the
May 02, 2013
The revival of the West
There is growing evidence of an industrial resurgence in developed economies, thanks to some powerful structural drivers that are allowing companies to localise production and take greater control over their supply chains: • Bringing production back to developed economies, or onshoring, is an emerging trend expected to strengthen, thanks to narrowing wage differentials with developing
April 29, 2013
Reform puts focus on asset mix, client targets
Van Eyk’s Jonathan Ramsay recently warned that new guidelines for financial products could potentially lead to big losses for investors if they encouraged the industry to take a shallow approach to risk management. He argues that ASIC’s Regulatory Guide 175 could result in poor outcomes if it encourages the industry to fall back on investment
April 23, 2013
