Yellow Brick Road: the Wizards of Oz?
Walking down the Yellow Brick Road worked out well for Dorothy in the Wizard of Oz and now financial advisers will have a similar opportunity courtesy of Mark Bouris. A path to the Emerald City is not for everyone, but Yellow Brick Road Wealth Management believes there are enough fellow travellers “disaffected by the system” to join its crusade.
November 26, 2012
Do bonds still have a place in a diversified portfolio?
The JGB market was the second largest bond market in the world and having no JGBs at all was a very brave call for a bond investor to make, and would also have turned out to be a wrong call Whither bonds?
November 22, 2012
Investors reveal mixed feelings on FoFA, advice
Regulatory initiatives such as the Future of Financial Advice reforms may initially be counterproductive as they scare off the retail investors they are designed to protect. A global investor study by the State Street Centre for Applied Research (CAR) has found that a significant number of Australian investors believe they will be forced to bear extra costs arising from the changes.
November 13, 2012
Commonwealth adviser banned; Storm rages on
ASIC has permanently banned a former Commonwealth Financial Planning financial planner in its latest action against the Commonwealth Bank of Australia subsidiary. In June, ASIC accepted an enforceable undertaking from former CFPL employee, Joe Chan, following an investigation into the advice provided by several Commonwealth financial advisers.
November 12, 2012
New dawn but no IFAs to seize the day
While the outlook for independent financial advice is good and likely to be boosted by pending industry reforms, one practitioner believes it is under threat due to a shortage of quality IFAs. Matthew Ross, an independent financial adviser with Roskow Independent Advisory, says the biggest short-term obstacle to his business is finding the right people who share his vision, passion and values.
November 08, 2012
Opt out “makes sense”:
a legal view
Despite Parliament’s imposition of an opt-in requirement for continuing fee arrangements, the Australian Securities and Investments Commission has suggested that an opt-out arrangement might be acceptable.
November 08, 2012
Planners show support for local community projects
Financial planning foundation Future2 has announced the recipients of five grants totaling $50,000. Each was endorsed by a local financial planning professional and will receive $10,000. Every application requires the support – and usually the active involvement – of a financial advice professional who is a member of a professional body, such as the Financial Planning Association (FPA) or the Association of Financial Advisers (AFA).
November 08, 2012
Skew your investment view: Zurich
From revolution to romanticism, technology has been the catalyst for profound changes in how we viewed and lived life during the period. Change keeps on changing If technological change is something we can rely on, that constant in itself presents an opportunity Technology changes people
November 05, 2012
November 2012:
Digital content
A guide to the Professional Planner November 2012 edition and links to authors and additional content. 04 - from the editor May the best managers win Simon Hoyle - simon.hoyle@conexusfinancial.com.au 08 - planner profile
November 02, 2012
Adviser banned: PIS blames “legacy issues”
The Australian Securities and Investments Commission (ASIC) has banned a former Professional Investment Services (PIS) authorised representative for three years.
October 30, 2012
Coalition reveals plan to scrap key FoFA reforms
The federal coalition has already drafted legislation that it will introduce to repeal elements of the Future of Financial Advice (FoFA) reforms if it is elected to government at the next election. Ciobo, who stood in yesterday for Mathias Cormann, the assistant treasurer and shadow minister for financial services and superannuation, said that “in our judgement, FoFA has failed to strike the right balance between appropriate levels of consumer protection and the need to ensure the ongoing availability, accessibility and affordability of high-quality financial advice”.
October 29, 2012
Wild West: Shady advice threat to SMSF trend
The self-managed super funds industry is in danger of becoming a lawless frontier if rogue advisers and opportunist marketers are allowed to continue touting for business. Hasib wants the Australian Securities and Investments Commission (ASIC) to make educational and assessment requirements for SMSF advisers a priority, but accepts that the regulator is presently stretched as it consults on several aspects of the Future of Financial Advice (FoFA) reforms.
October 25, 2012
