Operational Compliance – Can We Tick All the Pre-FoFA Boxes?

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While we don’t intend to debate the merits (or otherwise) of each component of the Future Of Financial Advice (FoFA) reforms in this article, like everyone who is truly committed to building a robust and sustainable advice profession, at Business Health we have been following the discussion surrounding the reforms with great interest. However, while... Read more continue reading

‘Next Generation’ of financial advice shows industry the way ahead

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Leading wealth advisory firm Centric Wealth today announced an integrated new portfolio management approach that represents a step change in the delivery of professional financial advice in Australia. Years in development, the ‘Next Generation’ approach combines a robust investment philosophy and framework with quality advisers, expert research, investment personnel and strong supporting technology and systems.... Read more continue reading

Not To Do In 2011

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Notwithstanding the rollercoaster ride which has been financial services for the past few years (forever it seems at times!), there’s no doubt in our mind that another challenging year awaits us all. The financial services marketplace has been changed irrevocably in our view – there can be no going back to the way it was.... Read more continue reading members only

Good health essential for comfortable retirement

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Financial planners should encourage clients to undertake preventative health programs as part of their holistic approach to advice, suggests medical expert Dr John Cummins of Executive Medicine. Sydney based Executive Medicine provides preventative health services that include an intensive annual check-up to screen a wide range of potential health problems. “Adequate wealth alone will not... Read more continue reading

New research comparing capital requirements of banks and insurers in Australia

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New research into regulatory standards for banks and insurers has found that improved transparency would bring benefits and that some differences exist in the treatment of products that are economically equivalent. Such differences may create regulatory arbitrage opportunities and market distortions. The research, conducted by Ernst & Young, is intended to inform debate about the... Read more continue reading

ESG Research Australia unveils 2011 best practice equity research awards as 50th member signs up

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ESG Research Australia (ESG RA) today opened nominations for its second annual research awards, to be held in March 2011. The awards reward excellence in research by Australia’s broking community of environmental, social and governance (ESG) impacts on listed corporations. Chair of ESG RA, Rob Fowler, said: “We are delighted to have recently signed on... Read more continue reading

Succession Planning Difficulties in the Current Regulatory Environment

There has been an inordinate amount of discussion concerning the Government Reviews that are currently underway and which have the potential to forever change the face of the Australian financial planning industry. (This story first appeared in the Journal of Financial Advice , Volume 3, Issue 4, 2010) Not least of the topics being argued... Read more continue reading

So what really is ‘Best Practice’?

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While the Australian financial services sector is huge in monetary terms, it is substantially influenced by a relatively small number of larger players (product manufacturers, platform providers and dealers alike), and the fact remains that financial advisers (ie: those who deal most directly with the Australian consumer) are effectively running “small businesses”. And, very often,... Read more continue reading

New professionalism standards lift the bar on best practice in financial advice

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Centric Wealth has taken the lead in the financial advice industry by releasing its own formalised standards for best practice financial advice. The Centric Wealth Professionalism in Financial Advice Standards aim to aid the delivery of the best wealth advice available and have been formally adopted by Centric Wealth financial planning advisers. It is a... Read more continue reading

2010 – How ‘healthy’ are Australian practices?

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As Australia’s baby boomers move inexorably towards their retirement, many will turn to their financial adviser for help and guidance. How much will they need to fund their retirement? What about all those complex taxation rules? How can I begin to help my children out? And so the questions continue. This will undoubtedly place the... Read more continue reading