The power of parity: re-thinking the Aussie dollar
I don’t think there are many people who would have thought that they’d ever see the Australian dollar not just return to, but significantly exceed, parity with the US dollar in their lifetimes. For many, it’s kind of a badge of national pride
June 26, 2012
FoFA: the unanswered questions
The Association of Financial Advisers (AFA) says the government’s suggestion that licensees and advisers will compete to be FoFA-ready is “unrealistic” given that key components of the reform remain unresolved. While the Future of Financial Advice (FoFA) legislation has now passed through the Senate, the AFA is concerned that key questions still have not been answered.
June 21, 2012
Peter Daly heads down Yellow Brick Road
Peter Daly has been appointed to head a Yellow Brick Road recruitment campaign less than a month after his sudden departure from Australian Financial Services (AFS) Group. While Daly will not be given a specific target to reach by a particular time, Yellow Brick Road CEO Matt Lawler told PPO the demand for a full financial planning service is being driven by the company’s branches.
June 21, 2012
High net worth: so why are they doing it tough?
Spare a thought for the world’s ultra-rich In calendar 2011, ultra high net worth individuals (UHNWIs) got smashed by falling asset prices The Capgemini/RBC Wealth Management 2012 World Wealth Report reveals that the world’s high net worth (HNW), or millionaire, population increased by 0.8 per cent to 11 million – which means that more people reached the threshold level to be classified as a millionaire – yet the global HNW population’s total wealth declined by 1.7 per cent.
June 21, 2012
Are dealer groups a barrier to true professionalism?
President of the Boutique Financial Planning Principals Group Claude Santucci says advisers are seriously questioning the benefits they are receiving from their dealer groups. Professional financial planning comes down to putting clients’ interests first.
June 19, 2012
ATO sounds warning on complex financial products
The Australian Tax Office has urged taxpayers and financial advisers to be cautious about sophisticated structured financial products that claim to offer franking credits and other tax benefits. "The arrangements are currently being dealt with by a new ATO taskforce on retail and wholesale financial products that promise tax or superannuation benefits that may not be available under the law,” he says.
June 19, 2012
Aussie advisers still ignorant of Asia
Australian advisers routinely ignore Asian markets when constructing portfolios for clients and remain resistant to change despite the growth potential. Jonathan Wu, an associate director and head of distribution and operations at Premium China Funds Management, puts this down to a combination of inertia and ignorance.
June 14, 2012
Cashed up but advisers eye return to equities
More than half of advisers are ready to re-balance their customers’ portfolios to hold less cash as part of a swing back into equities over the next six to twelve months. Despite the inherent difficulties in timing a return to shares or direct equities, research released by Zurich’s investment business in Australia found advisers bullish on share markets.
June 13, 2012
Mining papers over cracks in competitiveness
The IMD World Competitiveness Yearbook recently reported that Australia had dropped six places to fifteenth in its rankings The survey rates countries on their ability to manage economic resources to lift prosperity. Outside of mining, many sectors of the economy continue to struggle
June 12, 2012
Government is just trying to keep up: Ripoll
The former chair of the Parliamentary Joint Committee (PJC) on Corporations and Financial Services Bernie Ripoll has revealed how his view of the financial services sector was altered by the public hearings that his committee undertook nationally. We are just trying to keep up.”
June 07, 2012
New world order: targeting a defined outcome
The latest concern of many planners, fuelled largely by politicians, is whether people saving for retirement have too much exposure to equities and not enough to bonds. So, if a person is 20 years from retiring and another 20 years from dying, should that person have a big exposure to equities
June 07, 2012
Asian growth engine
Investors have heard a lot about the slowdown in developed markets, how emerging markets are looking more promising in terms of economic growth and that Asian markets have some of the best growth potential Growth engines
June 05, 2012
