ASIC powers questioned by Law Council
In a late December submission to the Parliamentary Joint Committee on Corporations and Financial Services, the Law Council of Australia registered it concerns over the scope of new powers given to the Australian Securities and Investments Commission (ASIC).
January 17, 2012
Valuations stable as vendors brace for FoFA
Financial planning businesses are defying the doomsayers by retaining their value in the face of the Future of Financial Advice reforms (FoFA), which many had predicted would be a catalyst for a mass exodus.
January 12, 2012
Has the GFC turned Gen X into super savers?
The total contribution of superannuation towards Australians’ net wealth is on the increase with research finding that younger people are engaging more with their super than ever before Greater awareness of retirement income shortfalls and the GFC experience are driving factors, with the Self-Managed Super Fund Professionals' Association of Australia (SPAA) predicting that the trend will continue.
January 12, 2012
Financial panic, revolution, disaster … and now for 2012
Fidelity Worldwide Investment commentator, Andrew Webb, says predictions for 2012 are virtually impossible but a meeting of the full EU summit on 30 January may set the tone. Australian equities lost almost 6 per cent.
January 10, 2012
Academic sparks debate on deferring super
Lifting the Superannuation Guarantee (SG) employer contribution from 9 to 12 per cent flies in the face of research which suggests financial stress is highest for those aged under 45. Financial planning and superannuation industry bodies welcomed the SG Bill’s passage through Federal Parliament in late November last year.
January 10, 2012
Regulator runs eye over CBA advisers
ASIC has accepted an enforceable undertaking from a former Commonwealth Financial Planning Limited (CFP) employee after he failed to meet various obligations as a financial adviser. The action follows an investigation into the advice provided by Simon Langton and several other CFP financial advisers, part of which is ongoing.
January 10, 2012
The outlook for Australian equities in 2012
Paul Taylor, head of Australian equities at Fidelity Worldwide Investment and portfolio manager of the Fidelity Australian Equities Fund, says banking crises are generally followed by sovereign debt crises and these tend to be followed by increasing inflation.
December 15, 2011
Boom or bust: will we see balance in 2012?
Zurich’s Matt Drennan bemoans the lopsidedness of the local economy but believes there is reason for optimism in 2012. In short there is no balance, only massive winners and massive losers. It is industrial relations.
December 13, 2011
Will mobile browsing bypass your website?
Financial planners without mobile-ready websites could soon be missing out on a significant amount of online business. Website visitors are 51 per cent more likely to do business with an entity that has a mobile site;
December 13, 2011
Super satisfaction bounces back
Australians are more satisfied with their superannuation fund now than at any point since December 2008. According to the latest Mercer Superannuation Sentiment Index, increased member satisfaction, reduced levels of concern about share market volatility and more realistic expectations of future superannuation balances drove a nine-point increase in the overall “sentiment score”, between December 2010 and September 2011.
December 13, 2011
Video snapshot: Dealer Group Summit
Professional Planner Online asked presenters, panelists and delegates to reflect on another successful Professional Planner Dealer Group Summit and the issues discussed.
December 08, 2011
Government to revisit lending caps
The National Financial Services Federation (NFSF) says it is ready to work with the Government and other interested parties to formulate improved regulation of short-term lending. In its report, the Parliamentary Joint Committee on Corporations and Financial Services recommended that the Government revisit key aspects of its proposed reforms, including the proposed cap on small amount credit contracts, which the Committee says appears to be unworkable.
December 06, 2011
