AFA’s voice to be heard
The Association of Financial Advisers (AFA) has established a Government and Policy Committee to ensure the views of the association are made clear to policymakers and regulators. Michael Murphy, AFA...
View ArticleShonks in inquiry’s sights
A Parliamentary Joint Committee on Corporations and Financial Services inquiry into financial products and services in Australia aims to identify and weed out the industry’s shonks, according to the...
View ArticleConfession of a shopaholic
Jeremy Cooper, deputy chairman of the Australian Securities and Investments Commission (ASIC) has confirmed that the regulator will conduct another shadow shopping exercise in the 2009-10 financial...
View ArticleNo More Rubbery Figures
The Self-Managed Professionals’ Association of Australia (SPAA) is aiming to produce a set of regular and reliable statistics covering self-managed superannuation fund (SMSF) asset allocation,...
View ArticleCommission on the chopping block
A consultation paper released by the Financial Planning Association of Australia (FPA), Financial Planner Remuneration, has sparked heated debate within the industry over a proposal to eliminate...
View ArticleHands off super
The Australian Institute of Superannuation Trustees (AIST) has warned against raising the preservation age for superannuation, in the wake of the Government’s Budget decision to lift the retire¬ment...
View ArticleVanguard Launch
Vanguard Investments has joined the ranks of institutions offering exchange-traded funds (ETFs), with the launch of three ETFs giving access to the Australian, US and world ex-US sharemarkets....
View ArticleAhead of target
The Salisbury Group says it has recruited 15 financial planners to its ranks since July 1, 2008, putting it ahead of expansion targets. The firm’s chief executive, Mark Euvrard, says the GFC is a...
View ArticleAged care in the spotlight
The financial services industry must adapt rapidly to accommodate the changing needs of an ageing population, according to the managing director of ING Australia, Harry Stout. At a seminar staged...
View ArticleInsurance online is easier
IOOF has introduced an online insurance facility aimed at improving the processing of insurance applications and eliminating a large proportion of the traditional paperwork. IOOF Insurance Online...
View ArticleA ‘disaster in the making’
The Financial Planning Association of Australia (FPA) has described a move to allow trustees of superannuation funds to provide limited personal advice to fund members as putting “the superannuation...
View ArticleWhat ’s in a name?
Meanwhile, the FPA has called for restrictions on the type of individual that can be described as a “financial planner”. In a submission to the Parliamentary Joint Inquiry into Agribusiness Managed...
View ArticleShrinking nest eggs
Almost half of all self-funded retirees have seen their retirement savings decline by 25 per cent or more over the past two years, according to new research from CoreData. The research group says as...
View ArticleCulture shift
By now you’ve all read the releases from the Government in response to Ripoll (now affectionately being called the “Bowen reforms”). By now you’ve all considered the changes; and even though there are...
View ArticleMiners, accountants and financial planners
Over the past few weeks the Government has announced substantial changes to three industries: accounting, financial planning and mining. The response from the three sectors has been a study in...
View ArticleReforms another step forward
What an extraordinary period for the financial services sector. In the space of a week the Government released its responses to the Ripoll Inquiry and Henry Review, and Cooper’s phase three report on...
View ArticleInsurance is not a special case
We do not understand why the proposed ban on commissions by both the FPA and the Federal Government does not also cover life risk products. In our family-owned business, we have successfully...
View ArticleFour news items you may have missed
Too busy to keep up with the latest industry developments? Here are a selection of news items from the past week to keep you in the loop. 1) The chief executive officer of the Financial Planning...
View ArticleSelling your practice, Genesys winners and more
Too busy to keep up with the latest industry developments? Here are a selection of news items from the past week to keep you in the loop including advice on selling your practice, complying with the...
View ArticlePlanning by degree,Westpac targets women
A new FPA ad campaign supports raising professional education standards, while two dealer groups plan to double the number of women they employ and a new practice-development program rolls out at...
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