ASIC targets substance in guidance
The regulator’s guidance document on conflicted remuneration goes well beyond industry expectation and allows “very little wiggle room.” In deciding whether a benefit is conflicted remuneration, we propose to focus on the substance of a benefit over its form, and consider the overall circumstances in which the benefit is given. The guidance states:
October 02, 2012
In Focus: Insurers locked and loaded, consumers yet to engage
When the market research firm Investment Trends delved into how financial planners are involved in providing advice on risk insurance, it found a market that appears to be close to saturation. Based on almost 930 responses, Investment Trends found that 93 per cent of financial planners are actively involved in providing advice on risk insurance.
October 01, 2012
October 2012:
Digital content
A guide to the Professional Planner September 2012 edition and links to authors and additional content.
October 01, 2012
China: canaries and
coal mines
China’s economy has slowed; its demand for commodities, most notably from Australia’s point of view iron ore, has fallen significantly The close link between China’s industrial activity and its demand for raw materials means that Australia is very much the canary down the coal mine, a harbinger for economic developments in China.
September 27, 2012
Adviser appetite for global funds on the rise
An overwhelming majority of advisers is expecting positive returns in international markets over the next 12 months, according to survey results from Zurich’s investment business in Australia. According to the survey, the majority of advisers is expecting positive returns from international shares over the next 12 months, with 54 per cent expecting single-digit returns.
September 25, 2012
Clawbacks threat to revenue, valuations
Risk advisers fear the value of their businesses will fall if proposed anti-churn measures are introduced, as speculation intensifies around the real motivation for commission clawbacks. Mergers and acquisitions corporate advisory firm, Radar Results, says feedback from risk advisers suggests the proposed anti-churn measures are both unnecessary and likely to reduce the value of their business.
September 20, 2012
Client needs up front at Hillross
His mother’s plan had been to send the young George to Australia with the money he’d need to acquire an education Client goals, front and centre The very first thing the client and planner focus on is what the client’s needs are from the potential relationship.
September 18, 2012
Storm settlement: CBA to carry the can
CBA will make available up to $136 million as compensation for losses suffered on investments made through Storm The compensation will be available to many CBA customers who borrowed from the bank to invest through Storm, including those who are members of the Sherwood class action that has been brought against CBA.
September 17, 2012
Fidelity upbeat on ASEAN
As clouds continue to shroud the outlook for global economic growth, the Association of Southeast Asian Nations (ASEAN) remains a bright spot for growth – and investors. The International Monetary Fund (IMF) expects ASEAN to grow by 6.1 per cent next year – much more than the 0.7 per cent forecast for the eurozone, 2.3 per cent for the US and 3.1 per cent globally
September 13, 2012
Hold fund managers accountable: Denison
Your role is to engage with the fund manager and, if necessary, remove the management team. According to Denison Funds Management, financial advisers are key to turning around underperforming funds and play a crucial role in holding fund managers accountable to their investors.
September 11, 2012
Government tinkering a “body blow” to SMSFs
SMSF Professionals Association of Australia (SPAA) has warned against further changes to superannuation following media reports that the federal government was considering cutting tax breaks, particularly for self-managed super funds.
September 10, 2012
Spread your energy bets
Dutch Disease, The Unlucky Country and The Boom is Over. These have been some of the more eye-opening headlines on the prospects for the Australian economy in recent times. While the tone may be brighter following the European Central Bank’s ‘Outright Monetary Transactions’ announcement, the mood in Australia has been starkly sombre of late.
September 10, 2012
