AMP dumps Mercer for Towers Watson
After eight years advising the $19 billion Future Directions and Responsible Investment Leaders multi-manager products, Mercer’s asset consulting agreement has not been renewed with AMP. Towers Watson will be the new consultant across the range of AMP’s multi-manager products.
December 01, 2011
PJC revises FoFA review timetable
The Parliamentary Joint Committee (PJC) on Corporations and Financial Services has revised the timetable for its review of the Future of Financial Advice (FoFA) legislation. Tranche One of the FoFA legislation - the Corporations Amendment (Future of Financial Advice) Bill 2011 - was referred to the PJC on October 13, and Tranche 2 - the Corporations Amendment (Further Future of Financial Advice Measures) Bill 2011 - was referred on November 24.
November 29, 2011
Germany’s economic ghosts risk Europe’s future
In a sense, the ECB’s explicit price stability mandate is built out of a German rather than a Europe-wide historical perspective. In other words, the ghosts of Europe’s, or rather Germany’s economic past, haunt the corridors of the ECB as surely as they did the Bundesbank
November 29, 2011
SMSFs and PAFs: key growth areas for advice
David Ward highlights the growing need for professional advice on PAFs and the key differences between these trusts and SMSFs. Self-managed superannuation funds (SMSFs) have become the fastest growing and largest sector of the superannuation industry (with more than $400 billion in assets)
November 29, 2011
A super DIY investment strategy
Let’s assume an investor is new(ish) to building an equity portfolio and that he has decided that he wants to invest $100,000 in Australian equities The market rose rapidly so I didn’t get set (except for my one stock) and my brokerage cost me about 40 per cent
November 29, 2011
IMAs, SMAs and MDAs: Making sense of the acronyms
It’s easy to get lost in the thicket of jargon Finally, the term “managed accounts” tends to be used to cover SMAs, IMAs and MDAs There are now a number of recognised fund managers managing SMA portfolio versions of their unit trust portfolios for investors.
November 28, 2011
Watchdog warning to gatekeepers
A Melbourne-based company has had its Australian financial services (AFS) licence cancelled by ASIC after it failed to meet its obligations. The action to cancel FPIP’s AFS licence is part of ASIC’s focus to improve the standards of gatekeepers, specifically the obligations of financial services licensees to monitor authorised representatives and ensure adequate compliance measures are in place to address licence obligations.
November 24, 2011
Centric puts faith in Wallaby legend
For years Phil Kearns was an integral part of the Australian rugby team, with his career bookended by World Cup successes in 1991 and 1999, but now a new challenge awaits the ex-Wallaby captain as chief executive of Centric Wealth.
November 22, 2011
Can small caps smooth the ride?
With the amount of gloom and uncertainty around at present, it is tempting for investors to throw up their hands and move everything into cash. Looking back over the past 10 years, equities have outperformed cash, whilst small caps have outperformed their large cap peers. S&P ASX Small Ordinaries*
November 22, 2011
FPA Conference: video wrap-up
The Financial Planning Association of Australia (FPA) National Conference 2011 tackled the big issues while also taking the time to acknowledge the next generation of financial planners. FPA chief executive Mark Rantall
November 22, 2011
Abbott won’t rescind 12% superannuation
Tony Abbott will not rescind 12 per cent compulsory superannuation if it is passed by parliament. Abbott spoke at a Financial Services Council breakfast in Sydney Craig Meller, managing director of AMP Financial Services, introduced Abbott at the the breakfast .,” says Abbott
November 18, 2011
What’s next for China’s currency?
With Australian investors and fund managers increasingly looking to Asian markets for investment opportunities, the regions currencies will face even closer scrutiny. Michael Collins, investment commentator at Fidelity Worldwide Investment, says the Hong Kong dollar may be a game-changer.
November 15, 2011
