Where is the Storm or Trio that justifies TASA haste?
While a combination of common sense and collective lobbying has eventually prevailed to give financial planners another 12 months before they must comply with the Tax Agent Services Act (TASA), the speed with which certain elements in the mainstream media resorted to bashing the industry on this issue was duly noted. It is indisputable that
June 20, 2013
Reconsidering shares through history’s lens
MLC’s Gareth Abley argues that advisers must ensure clients take an objective and long-term perspective to share markets and manage the emotional flux caused by volatility and an excitable mainstream media. Investors are at an interesting inflection point with regard to shares. While many are still pained by the losses of 2008, they’re also aware
June 18, 2013
BDMs want your job
Business development managers (BDMs) servicing financial planners are generally not meeting targets, and dissatisfaction with team culture has them looking to competitors or other financial services providers for employment. According to a Business Health report, Business Development Manager Research Results, which polled 115 managers representing product manufacturers, dealer groups and independent licensees, just 22 per
June 13, 2013
Life companies to blame for churn: Dunsford
Principal of Dunsford Financial Planning, Mark Dunsford, says life insurance companies will need to put consumers ahead of profits if they ever want to get serious about addressing lapse rates and churning. I have noticed that Bill Shorten and The Financial Services Council (FSC), have put their heads together yet again in an attempt to
June 11, 2013
TASA deferred, clock ticks on PJC
Financial advisers have won a temporary reprieve from needing to comply with the Tax Agent Services Act (TASA) regime, but this respite from additional red tape may be short-lived. Yesterday (June 6) the Tax Laws Amendment (2013 Measures No. 2) Bill 2013 was referred to the Parliamentary Joint Committee (PJC) for Corporations and Financial Services
June 06, 2013
Are DIY SMSF clients ready for power tools?
Self-managed super fund (SMSF) trustees often believe they have good reason to mistrust professional financial advice but perhaps some pointers on dealing with these sorts of clients can be gleaned from reality television. SMSFs are often referred to as do-it-yourself super funds and while this may be a clever catch phrase for a nation addicted
June 06, 2013
AMP: raise quality of advisers
Financial advisers have little hope of becoming fully fledged professionals while rogue advisers are allowed to jump between dealer groups with impunity. AMP Financial Planning managing director Michael Guggenheimer believes the problem is ongoing and that it is time for dealer group heads to take action. “I would welcome a conversation among licensee heads… about
June 03, 2013
In Focus: Getting a bigger bang for your buck
The boutique fund manager NovaPort Capital declared at the end of March that a third of all Australian Securities Exchange (ASX)-listed small-capitalisation companies will increase their net earnings by at least 10 per cent a year over the next three years. NovaPort, a specialist small-cap fund manager, said that almost two-thirds of the small-cap sector
June 01, 2013
