Curve Securities has said the recent historic rate cut demonstrates the need for advisers to access higher term deposit rates than are simply available through most bank, building society and credit union branches. Managing Director, Andrew Murray, said financial advisers are typically locked out of accessing term deposit ‘specials’, which can pay a higher interest [...]
continue readingPeople with a mortgage may be breathing a little easier as they see interest rates hit historic lows, but not everybody has a mortgage. Those relying on income from investments such as term deposits and savings accounts are faced with increasing bills for energy and fuel and may be in less of a position to [...]
continue readingReports of e-mail scams to the ATO have tripled to almost 11,000 compared to the same quarter of last year. Second Commissioner Geoff Leeper said the ATO is seeing an increase in the number of sophisticated e-mail and phone scams designed to trick people into giving away their personal details such as tax file numbers, [...]
continue readingFinancial planning firms operating in-house portfolio construction functions face having to ‘FoFA-proof’ against looming operational risks embedded in the Future of Financial Advice (FoFA) legislation. This is the view of specialist investment management group Select Asset Management (Select) which says higher consumer protection standards, including the onerous ‘best interest duty’ that applies to all product [...]
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With planner and investor concern levels dropping to their lowest point for over three years in February, both planner and investor appetite for growth assets bounced back, according to a new report released in April from leading wealth researcher Investment Trends. The March 2013 Planner Direct Equities and SMA Report is an in-depth study of [...]
continue readingAustralians have just one week before inactive superannuation accounts with less than $2,000 must be sent to the Australian Tax Office. In December the Government passed a new law requiring superannuation funds to send such balances to the ATO by 31 May. BT Financial Group General Manager of Superannuation, Deanne Stewart, said the new [...]
continue readingInvestors must focus on companies with resilient business models that have the balance of power over their suppliers and customers, says Pengana Australian Equities Fund manager, Rhett Kessler. Pragmatic investors need to be alert for well-managed companies with the business models and balance sheets to take advantage of three dynamics. ‘The first is the US [...]
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Consumer sentiment fell by 7.0% in May to be 2.4% higher than a year ago. The fall in consumer sentiment over May follows a fall of 5.1% in April. Despite the rate cut in May, and April’s solid jobs numbers, sentiment appears to have been dampened by a negative response to the federal budget. The [...]
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The Australian Share Ownership Study released today by the Australian Securities Exchange (ASX) shows that 6.7 million people or 38% of the adult Australian population invested in the Australian share market, either directly (via shares or other listed investments) or indirectly (via unlisted managed funds), in 2012. This is a decline from 43% total share ownership [...]
continue readingRubik Financial Limited has announced its further expansion into the wealth management space in Australia by entering into a binding agreement to acquire Visor Desktop financial planning software (formerly COIN Desktop) from Macquarie’s Banking and Financial Services Group. Visor is a comprehensive suite of financial planning tools and software solutions for independent or boutique advisers, [...]
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