The FASEA regulations have had an unsettling effect on the industry and much of the discussion to date has centred around disruption and educational and exam requirements. But now is the time to shift the focus to a more productive examination of implementation and what the standards mean for advice behaviour, delivery of client services […]
continue readingRetirees are too often left struggling with their finances without the help and guidance they need, according to one of WA’s leading institutional investors. Chief Investment Officer Chris West says that for many Australians, retirement is a stressful period but that it doesn’t need to be that way. “Everybody deserves dignity in retirement. For many […]
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11
Mar
2020
As our population gets older (and lives longer), the likelihood that an elderly parent will need to go into a nursing home is increasing. Usually this requires having to make a payment to the nursing home for the privilege of being accommodated there – either by way of a Refundable Accommodation Deposit (“RAD”) or for […]
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09
Dec
2019
Advice businesses are undergoing transformation, and it is increasingly important for advisers to focus on meeting the strategic advice needs of clients. ASIC’s recent survey[1] on what Australians want financial advice on, offers insights on the real needs of clients and provides a guide for advisers to determine whether they are well prepared to meet […]
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19
Sep
2019
Recent discussion in the media has suggested that the dollar amount needed for a comfortable retirement has been overstated. While it is true that many of us can get by in our retirement with less than the often-quoted recommendation of ‘at least a million dollars in super’, there are significant costs associated with ageing that […]
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24
Jul
2019
Household Capital, an independent, specialist retirement funding provider, commended the federal government’s announcement that it will fund an additional ten thousand in-home care packages but warned that more needed to be urgently done to meet the needs of ageing Australians. The Royal Commission into Aged Care Quality and Safety recently focused on aged care in […]
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09
Apr
2019
For many people, going into aged care is not a choice but something that is forced onto them; however there are steps they and their families can take to help make sure they end up with the right care, says Melinda Measday, wealth management director at HLB Mann Judd Sydney. “Most Australians would choose not […]
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10
Dec
2018
Much excitement was generated by the May Budget announcement to extend the Pension Loan Scheme (PLS). “This proposed to allow full pensioners, part pensioners and self-funded retirees greater opportunities to use the PLS to top-up income – important particularly for clients trying to fund aged care” explained Louise Biti, Director at Aged Care Steps. The […]
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27
Aug
2018
Legislation is subject to constant change and new opportunities arise as a result. Even changes that are not directly related to aged care could create new strategy options for aged care. “Many clients moving into residential care may decide to sell their homes. The 1 July change to superannuation contribution rules provide an opportunity for […]
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06
Jul
2018
A Refundable Accommodation Deposit (RAD) payable on entry in aged care is often a large amount of money to find in a hurry and many people think selling the family home is the only option open to them. Selling off the much-loved home can be a distressing outcome for most people. However, in many cases […]
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20
Apr
2018
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