Van Eyk takes on seasonal experts and crystal balls
Investment experts are no better at predicting the future at the start of the year and financial planners should think carefully before acting on the latest round of predictions for economies and markets. This is the view of van Eyk head of strategic research, Jonathan Ramsay, who says while crystal-ball gazing is popular at this
February 25, 2013
FSC issues March tax ultimatum on super grabs
The Financial Services Council (FSC) has issued a “hands-off” notice to government on superannuation, claiming any further taxes would be a breach of trust. Calling superannuation a “bargain between government and working Australians”, FSC chief executive John Brogden said enforced savings could no longer be treated as a honeypot to be dipped into at will.
February 21, 2013
YBR retirement promo scores own goal
An A-League football match isn’t where you expect to hear a “plan for retirement” message, but that’s what happened last Saturday night at the Sydney FC versus Adelaide United game. The retirement planning promo involved the merging of two of Mark Bouris’ interests: Yellow Brick Road (YBR), the financial services business of which is he
February 21, 2013
Accountants reject APES as FoFA swings into action
Discontent in the ranks of a peak accountancy body and confusion around accreditation for accountants wishing to offer financial advice in self-managed super funds (SMSFs) has clouded the debate on industry operating standards. Speaking at the SMSF Professionals’ Association of Australia (SPAA) National Conference on Friday, Institute of Public Accountants (IPA) chief executive, Andrew Conway,
February 19, 2013
China may run hot, but will investors overheat?
China’s stock market has rallied on the back of a smooth leadership transition, a reduction in global risk and a broader move out of bonds back into equities worldwide. Another round of market reform and more government efforts to refocus the fastest growing economy in the world on domestic consumption are expected to drive further gains,
February 19, 2013
Cormann attacks Shorten over super tax grab
The federal election may be months away but Senator Mathias Cormann was a man in a hurry at Friday’s conclusion of the SPAA National Conference in Melbourne. Before a receptive audience, the shadow minister for financial services and superannuation was in full electioneering mode, slamming the government for “treating people’s retirement savings like an ATM”,
February 18, 2013
2013: another year of living dangerously?
Last year was a tumultuous one in many ways, with serious economic and political challenges keeping financial markets on edge for much of the year. It was only the actions of central banks to inject enormous liquidity that ultimately calmed market nerves and delivered strong investment returns in 2012. High levels of private sector debt
February 14, 2013
February 2013:
Digital content
A guide to the Professional Planner February 2013 edition and links to authors and additional content. features 08 forum Challenges facing the private banking industry Australia’s leading private banks are grappling with how to best position themselves for when clients start to look for alternatives to cash. 12 cover story SMSF advisers under the microscope With new
February 12, 2013
The AFA’s Brad Fox on clients, codes and conduct
In his time as an AFL player with Essendon, Brad Fox was involved in an altercation with Tony Lockett in which the recently appointed chief executive of the Association of Financial Advisers was choked to near unconsciousness in a headlock. While Fox was neither the first nor last player to come off second best in
February 11, 2013
Local, global markets rally as political calm returns
Just a month into 2013 and so many of the worries of 2012 seem a distant memory. It was just six months ago that the head of the European Central Bank, Mario Draghi, had to pledge to do “whatever it takes” to prevent a meltdown of confidence in Europe. The perpetual worry about a double-dip
February 11, 2013
Industry funds compare the pair and 20,000 SoAs
The $60 billion industry superannuation fund AustralianSuper produced about 10,000 statements of advice in 2012. The fund’s head of policy and public affairs, Louise du Pre-Alba, says it expects to produce about 20,000 SoAs this year. Think about this. AustralianSuper alone has about two million members. What if this super fund puts its arms around
February 07, 2013
Defending the investment manager
The conventional wisdom in some quarters is that fund managers underperform. But does this stand up to analysis? “Conventional wisdom is the body of ideas or explanations generally accepted as true by the public or by experts in a field. Such ideas or explanations, though widely held, are unexamined,” according to Wikipedia. So, let’s examine.
February 05, 2013
