April 2013:
Digital content
A guide to the Professional Planner April 2013 edition and links to authors and additional content. features 08 the FoFA countdown Peter Kell puts financial planners on notice as deadline looms 19 in focus – Australian equities A time to buy and a time to sell – and how to tell the difference 24 other people’s money
April 03, 2013
FoFA fatigue? It hasn’t even started
The Future of Financial Advice (FoFA) reforms are now less than three months away, but one expert warns that being “consumed” by the changes is as dangerous as being underprepared. Speaking at the van Eyk annual conference last week, Matthew Fogarty, national practice development manager for The Encore Group, said “the horse has bolted” as
April 02, 2013
Fidelity: what would you do
with $1 million?
The arrival of an unexpected lump sum would see Sydney residents favour structured investment products versus the insurance products preferred by residents of Asian cities. How prepared are your clients for a sudden windfall? We often hear advice about saving and investing for rainy days. The message is essentially about avoiding poverty. Yet we seldom
April 02, 2013
In Focus: A time to buy and a time to sell
The past three months have produced solid gains for investors in the Australian sharemarket. But now what? Full In Focus feature, A time to buy and a time to sell, is available here Making money in equities is simple. Buy low, sell high, and that’s pretty much all there is to it. But this slightly facetious view
April 01, 2013
Holiday over for advisers on tax services: IPA
A peak accounting body believes financial planners offering tax advice services have “compromised” consumer protection and has called on Treasury to regulate advisers under the Tax Agent Services Act (TASA). In a submission on draft legislation titled Creating a regulatory framework for tax advice (financial product) services and other amendments, the Institute of Public Accountants
March 28, 2013
Attracting more female advisers and keeping them
The Association of Financial Advisers (AFA) wants to inspire women from across the financial advice industry, while Westpac and St George Financial Planning aim to double the number of female planners by 2015. AFA chief executive, Brad Fox, says the Inspire – Connecting Women in Advice initiative will provide a network and professional community for
March 26, 2013
Rule Britannia: a UK perspective on FoFA
In the first of a three-part series, we look at how other countries, especially the UK, have moved to regulate their financial services industries post-GFC and how the Future of Financial Advice (FoFA) reforms compare to legislation already in effect. In part one we set the scene. The global banking crisis of 2007–10 has spawned
March 25, 2013
Tax threat to advisers could be bigger than FoFA
Financial planners entering the industry after July 1 face the risk of inadvertently breaching the Tax Agent Services Act, with many dealer groups unaware that they will potentially need to satisfy a separate regulator on tax issues. With much of the industry predictably focused on being Future of Financial Advice (FoFA) compliant by mid-year, the
March 21, 2013
What would enshrined terms deliver?
We’re entering dangerous territory with the terms “financial planner” and “financial adviser” set to be enshrined in legislation. This week, legislation entered Parliament that will enshrine both terms and thereby restrict their usage. In a nutshell, only people who are properly licensed to provide personal financial advice to retail clients, or who operate with the
March 21, 2013
New Super Fund Awards
Conexus Financial, publisher of Professional Planner and Professional Planner Online, has partnered with research and consulting firm Chant West to develop the Super Fund Awards. In a first, Chant West is applying its deep industry knowledge and expertise to an awards event. The awards will recognise achievement and excellence in the superannuation industry. “We want
March 19, 2013
Macquarie settles on Storm, ill winds persist
Macquarie Group has settled with Storm Financial investors for $82.5 million as part of an ongoing class action, which may yet have an impact on other firms. Commonwealth Bank of Australia, Macquarie Bank and Bank of Queensland have all faced ongoing legal scrutiny from both the Australian Securities and Investment’s Commission (ASIC) and groups of
March 18, 2013
