CDPP wins appeal against Lawson Stuart Donald
The Commonwealth Director of Public Prosecution (DPP) has won its appeal against a former private client adviser, with the New South Wales Court of Criminal Appeal sentencing Lawson Stuart Donald to one year in prison for the misappropriation of $1.7 million of client monies. The former Bell Potter Securities adviser from Maroubra, New South Wales,
October 25, 2013
PM Capital: move money offshore
Funds manager PM Capital has sold out of its entire position in Australian banks and urged retail investors to move their money offshore. According to PM Capital founder and chief investment officer Paul Moore, Australian investors are in the middle of a “very long bear market” and should take advantage of the strong Australian dollar
October 25, 2013
B2B retirement web service launched
Research house Lonsec and actuarial consulting firm Milliman have assembled a panel of experts to write regular investment articles for subscribers to their new retirement website. Subscribers to the new Lonsec Retire web service will have access to thought leadership on a variety of topics relevant to constructing portfolios in retirement written by BT Investment
October 25, 2013
SMSF investment strategies
What trustees need to know about setting up a SMSF Trustees of self-managed super funds (SMSFs) are responsible for developing and implementing the strategy for investing their funds’ assets. That doesn’t mean they need to become an investment expert: they can pay people to advise them and can even use investment products, such as managed
October 25, 2013
Who is the head of AMP Capital’s SMSF business?
AMP Capital, the funds management arm of AMP, is building a new business unit to service the lucrative self-managed superannuation fund market. It has appointed former head of National Australia Bank online trading, Tim Keegan, to the newly created position of head of SMSF. Keegan oversaw the development of NAB’s online trading business nabtrade, which
October 24, 2013
Aged-care system changes add to complexity
Private equity-backed financial planning firm Centric Wealth has warned that sweeping changes to the aged-care system will add further complexity for elderly Australians and their families, but create opportunities for financial advisers. The recently legislated aged-care reforms will introduce new carer and pension entitlement rules from July 1, 2014, and make it impossible for some
October 24, 2013
Webb departs Perpetual for First State Super
Perpetual’s head of multi-manager funds, Damien Webb, will leave the listed funds manager and reunite with former colleague Richard Brandweiner at First State Super in the New Year. Webb’s resignation follows a string of recent departures at Perpetual as it restructures its internal product and research teams. In September, Nigel Douglas, formerly Perpetual’s head of
October 22, 2013
The latest Alpha mail
Paul Melling Retirement Planning, based in Heidelberg in Melbourne, is the latest firm to join Alpha Group, the collective of Victoria-based independently owned financial planning practices. Alpha Group, which was established in the late 1990s to support and facilitate the sharing of ideas between like-minded advisers, held its annual conference in early October. It was
October 22, 2013
Why it’s still worth investing in bonds
Bond markets reacted quickly in May and June when the US Federal Reserve (the Fed) indicated it would begin winding back its bond-buying economic stimulus program earlier than expected. Bond prices plunged and yields in all the major bond markets rose sharply (the two move in opposite directions). Investors interpreted the Fed’s hints as a
October 22, 2013
Centric champions in-house solutions
Centric Wealth, the financial services company backed by CHAMP Private Equity, will develop new in-house investment solutions for financial advisers and their clients as part of plans to expand its product and services business. The group currently offers five investment funds including the Centric DHA Residential Property Fund, which recently received an AA+ rating from
October 22, 2013
