How to make financial advice work for all Australians

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With the industry absorbing yet another wave of regulatory change this month, it’s become clear we need a circuit breaker. The Federal Government’s upcoming Quality of Advice review will be a critical moment for the industry and for Australians. It presents the opportunity to reset the course for how financial advice is regulated and how... Read more continue reading

Private Ancillary Funds

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Last week, Canva’s co-founders Melanie Perkins, Cliff Obrecht and Cameron Adams pledged to donate 30% (approx. $16.4b) of their business’s equity into the Canva Foundation. This is a very generous donation and is an example of long-term planned philanthropy in action. An ideal way for a family to conduct sustained philanthropic activities, like the Canva... Read more continue reading

The unfolding Evergrande crisis

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Evergrande on its own is unlikely to cause a financial crisis. Last week’s news that the Chinese government has informed banks that the firm would not be making a loan interest payment this week is a sign that the government are utilising tools to stem global economic fallout. Although many banks have exposure to China,... Read more continue reading

Consumers reviewing, renewing and claiming on their policies

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A recent report released by life insurance specialist Brett Wright, has shed some light on the life insurance commission debate, from an advice practitioner and consumer point of view. The report breaks down the “Getting Covered” component of the consumer-adviser relationship and advice process, whilst also digging into the review and renewal of life insurance,... Read more continue reading

What do consumers want and can life insurance survive after a ban of commissions?

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A recent report released by life insurance specialist Brett Wright, has shed some light on the life insurance commission debate, from an advice practitioner and consumer point of view. Life insurance is complex, confusing and people don’t wake up in the morning thinking about why they need to buy it. Life insurance advisers cut through... Read more continue reading

Frontier reviews investment manager culture

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In the face of an ever-increasing wave of issues surrounding culture within funds management businesses leading asset consultancy, Frontier, has put its foot down in terms of its approach to assessing culture within the businesses managing its clients $450 billion in funds. Frontier confirm they have always assessed and considered culture within the context of... Read more continue reading

Are life insurance commissions fuelling Self-Interest or Best Interest?

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A recent report released by life insurance specialist Brett Wright, has shed some light on the life insurance commission debate, from an advice practitioner and consumer point of view. The government, regulators and opposition have continued with their narrative of supporting a ban of life insurance commissions (or potential ban pending an ASIC review). For... Read more continue reading

What’s driving the sale of financial planning practices: a look at the data that tells the story

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Financial services practice broker, Growth Focus, has compiled qualified data over the last three years looking at the reasons financial services practices sell. “Over the last decade, the reasons for selling a financial planning business have been consistent in their frequency with some notable trends developing in the past three years,” says Steven Fine, managing... Read more continue reading

Household Capital 2020 Third Pillar Forum

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Household Capital’s 2020 Third Pillar Forum launched yesterday as an online experience. The online forum includes a live panel discussion and interviews with 27 experts from around the world. The Forum’s live national panel debate was hosted by Ali Moore in the Melbourne studio with Andrew Boal, CEO of Rice Warner and Joshua Funder, CEO... Read more continue reading

‘Imminent risk’: Financial advice practices could fail in new economic environment

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Leading Australian portfolio manager Dynamic Asset Consulting warns that financial advisers are putting their businesses and their clients at serious risk by implementing traditional strategic asset allocation (SAA) portfolios. Sydney-based Dynamic Asset Consulting (DAC) provides end-to-end business solutions for Australian financial advice practices though actively managed discretionary accounts (MDAs). Portfolio manager Dr Jerome Lander said... Read more continue reading