Spiro Paule

The Queensland arm of accountancy group Moore Stephens has reached an agreement to become part of Crowe Horwath, Australia’s fifth largest accountancy and financial advisory group, owned by M&A giant Findex.

Findex CEO Spiro Paule said: “Moore Stephens Queensland has an outstanding reputation and history of client service. We have had most constructive and detailed discussions with Moore Stephens partners over recent months and all parties are excited by the opportunities created by Moore Stephens Queensland joining the Crowe Horwath business.

“All Moore Stephens clients will continue to be serviced by their existing adviser who will now have even greater resources at their disposal, courtesy of the Findex network, to help meet the evolving client needs.

“Crowe Horwath already has the largest geographic footprint nationally in the accounting sector and the addition of the seven Moore Stephens offices will be valuable to our network.”

Managing Director of Moore Stephens Queensland said, “We were attracted to Findex because of their approach to holistic advisory, delivered by one trusted adviser through the Family Office model.

“There has been a lot of change in the accounting profession and we believe Findex’s focus on combining relationships and technology will enable us to meet the changing needs of our clients.”

Since 2000, Findex has successfully acquired and integrated more than 45 businesses, including the purchase and privatisation of the Crowe Horwath Australia and New Zealand businesses in early 2015.

Findex’s interest in acquiring boutique and mid-tier firms in rural and regional areas is part of an ambitious strategy to revolutionise the financial industry for mass affluent Australian market.

“There is no question that the accountancy and financial services industry is being disrupted. We see opportunity in disruption. Our adaptability and focus on technology and process means we are at the forefront of the evolution of our industry.

“The partners and staff at Moore Stephens share our commitment and vision to continually improve and refine the financial services offering for SME’s and the people within them.

The post Moore Stephens Queensland joins Findex backed Crowe Horwath appeared first on AdviserVoice.

Thomas Paule

As the ideas boom blooms, is the Great Australian Dream less home-ownership and more entrepreneurialism?  ASK Crowe Horwath reveals key findings.

Enquiries about starting a new business and issues related to self-managed super funds (SMSFs) top the list of questions featuring in the recently launched ASK Crowe Horwath online problem solving portal, which provides obligation-free, professional insight on financial related matters.

“ASK Crowe Horwath was launched last year in Australia and now, after six months of operation, we can start to see some clear patterns in the nature of enquiries and advice sought,” said Thomas Paule, Chief of Marketing and Digital at Findex.
“ASK Crowe Horwath is targeted towards businesses and individuals, allowing questions to be posed by the general public and answered by Crowe Horwath advisors.

“There are no boundaries to the questions that can be asked, with professionals covering the full spectrum of financial services.

“The primary aim of the portal is to provide an easy point of access to professional and expert opinion.

“There are over a million SMSF trustees in Australia – that’s 1 in 24 Australians. Given their popularity, we anticipated SMSFs would figure prominently in enquiries to the site, but we are a little surprised by the level of interest in starting new businesses.

“One could hazard a guess that the spike in interest is a reflection of the ideas boom; there’s really never been a better time to start a business in Australia.

“Certainly from our experience it seems this is on top of mind for many entrepreneurs who are considering their financial and professional future.

“When it comes to the advice given, our team clearly express the importance of having a business plan, not just an idea or a hope.

“As an organisation that is highly involved with, and committed to, innovation as a pathway to growth – both individual and nationally – it has been interesting for us to note the key role technology regularly assumes in the enquiries we have been receiving about new businesses.”

So, could starting a business be the new Great Australian Dream?

“Based on our findings, it’s certainly possible, given our experience with ASK Crowe Horwath to date,” Mr. Paule said.
Due to the success of ASK Crowe Horwath portal in Australia, Crowe Horwath Australasia parent company, Findex, has announced a similar ASK Crowe Horwath site will be launched in New Zealand this week.

“It will be most interesting to see if the Australian experience is replicated in New Zealand.”

The post Data reveals Great Australian Dream shifts from buying a home to starting a business appeared first on AdviserVoice.

David Ward, a former Transaction Advisory Services Partner with EY and Trevor Pascall, a former Tax Partner with KPMG’s tax division, have been appointed as Corporate Finance and Tax Advisory Principals respectively.

Findex Global Head of Business Development, Peter Gardiner said that these two appointments were part of Crowe Horwath’s move to meet the increasing demand for corporate and tax advisory services across the firm’s national platform as part of the transition to offer all clients a comprehensive Family Office service.

“In short, the Family Office model involves providing clients with the opportunity to access a wide range of financial-related services from one trusted source at a competitive price.

“We are pleased to recruit such great talent and though they are based in Queensland, they will have a national focus.
“These appointments also reflect the increasing significance of Queensland within our network. The Sunshine State’s diverse range of agri-industries represents an ongoing opportunity for Crowe Horwath to further grow in the corporate finance and tax advisory space in this market.

“David and Trevor each bring a wealth of experience from large and trusted organisations; the kind of people we really need to partner with our clients and add value,” he said.

David Ward joins Crowe Horwath from Credo Advisory Partners, which he founded in July 2015 as an independent boutique corporate advisory firm specialising in the provision of Merger & Acquisition (M&A) advice. Prior to that he had a long career with EY Transaction Advisory Services as the head of its Queensland M&A operations.

“I believe my solid experience in transaction execution, particularly in the mid-market corporate and private equity sectors, can bring a lot to the table for Crowe Horwath,” added Ward.

Trevor Pascall was previously a Tax Partner at KPMG, dealing with the broad spectrum of tax matters from international through to SME tax issues. He was also the Lead Tax Partner for Energy & Natural Resources (ENR) in Queensland, chair of the KPMG National ENR Tax Technical & Training Committee and a member of the KPMG National Tax Management Services Group.

Pascall has also worked at the Australian Tax Office (ATO) where he held roles of Tax Counsel, Director of Complex Legal Recovery and was a Sydney ATO Executive Board Member.

“This brings an exciting change in my career – the next chapter – that effectively builds on my many years in tax.
Having started my career in the ATO and successfully transitioning to a Big Four professional firm, my objective is to leverage my significant and varied tax knowledge and skills through to the Crowe Horwath client base across the country.

I strongly believe in what Crowe Horwath, as part of Findex, is aiming to achieve through the Family Office and I’m excited to be a part of the journey.” Pascall said.

The post Crowe Horwath ups M&A, Tax and Private Equity firepower with two ex-‘Big Four’ appointments appeared first on AdviserVoice.

Ralph Martin

The global push to simplify financial statements is gathering momentum, and those preparing accounts should take the opportunity to conduct their own “decluttering” process, says Crowe Horwath’s Audit Technical Director Ralph Martin.

He says there is widespread acknowledgement that financial statements have become too lengthy and complex, and those preparing accounts should take advantage of recent changes to accounting standards to make them far more accessible to investors or other readers.

“Financial statements have grown in size every year, with a typical ASX-listed company often preparing more than 100 pages of information. Although listed companies are the most visible example, private companies, charities and government entities often experience similar issues.

“It’s not surprising that some companies revert to preparing two sets of financial reports; those required to comply with the Australian Accounting Standards, which are increasingly regarded as a compliance exercise, and those where the company produces additional, specifically tailored reports for its shareholders.

“While it can be tempting to place blame purely on the accounting standards themselves, ‘disclosure overload’ can also arise from the way that some financial statements are prepared, with over-reliance on generic templates and checklists, without consideration for what investors would like to know, and how best to present information to them.

“We see situations where companies with small market capitalisations are producing lengthy reports for shareholders. You have to ask what the benefit is.”

The International Accounting Standards Board (IASB) launched an initiative to work out how to reduce “disclosure overload”, with a key outcome being a revised version of AASB 101Presentation of Financial Statements.

The revised standard clarifies several key concepts around financial statement preparation, including:

• Changing the structure of the financial statements in order to give more prominence to relevant areas.
• Applying the concept of materiality to ensure that information within the financial statements is relevant to the readers.
• Although each standard contains specific minimum disclosure requirements, a company doesn’t need to provide a specific disclosure required by an Australian Accounting Standard if the information is immaterial.
• Those preparing financial statements should not try to obscure material information by “hiding” it in a large volume of immaterial information.

Martin says these principles are designed to reassure those who prepare financial statements that they have the freedom to apply the concept of materiality and exercise judgment in deciding what should be included in financial statements.

“This includes a greater focus on relevance, removing unnecessary notes and wording, change to the order of the financial statements and to use plain English.

“For example, it’s not necessary to include a note for every material balance. Rather, consider which notes genuinely provide further useful information to the end user.

“Also, using plain English is key. The use of technical language and accounting jargon is a common complaint by readers of financial statements, particularly when describing accounting policies.”

The post Push to simplify financial statements is a bonus for businesses appeared first on AdviserVoice.

Ralph Martin

Small business owners such as retailers or distributors who lease their premises could find themselves being forced to renegotiate the terms of their bank loans in the wake of a change in the accounting treatment of most leases according to leading accountancy firm, Crowe Horwath.

The International Accounting Standards Board (IASB) has just issued IFRS 16 Leases that effectively abolish the concept of the operating lease and treat all leases as finance leases. The end result is that almost all leases will be recognised as liabilities on the balance sheet rather than the current distinction between operating and capital leases.

Ralph Martin, Crowe Horwath’s Audit Technical Director, says one of the unintended consequences of the standard could be to force small business owners who lease their premises to renegotiate their loan agreements with their banks if this change in accounting standards puts them in breach of their loan covenants.

“Many loan agreements contain covenants based on ratios such as debt-to-equity or interest cover. The new standard could significantly affect those calculations.

“What was treated in the past as an operating lease will now sit in the balance sheet as a liability. The effect could be to trigger a breach of their loan covenants that could give the bank the right to demand repayment of the loan in full.

“Exceptions to this significant standard will be short-term leases (less than one year) and low-value assets such as office equipment and computers, but clearly won’t exclude long-term property leases.”
The saving grace for small businesses is that the standard doesn’t take effect until 1 January 2019, but Martin says it’s essential they begin to prepare now for this important change in accounting standards.

“It’s easy to think that 2019 is nearly three years away, but our advice to small businesses is to start preparing for the change now.”

“The new requirements can be complex, so it’s important to seek appropriate professional advice. Not all businesses will be affected equally. We expect the sectors to be most affected to include retailers and distributors, agribusiness, and the logistics and haulage industries.”

The decision to issue IFRS 16 Leases reflects a long-standing view among global standard setters of accounting standards that the previous standard, IAS 17 Leases, was too ambiguous.

Martin says: “The previous distinction between finance leases, which were recognised on balance sheets, and operating leases, which were not, was often arbitrary, and resulted in substantial lease obligations being visible to investors only in the notes to the financial statements.

“Under this standard the nature of the expense recognised in the income statement will change.

Instead of being shown as rent, or as leasing costs, it will be recognised as depreciation on the leased asset, and an interest charge on the lease liability. The interest charge will be calculated using the effective interest method, which will result in a gradual reduction of interest cost over the life of the lease.”

“One effect of the new standard is that sale-and-leaseback arrangements can no longer be used as a method to keep debt off the balance sheet.”

Aside from potential breaches of loan covenants, Martin says there are three other possible consequences:

• It may require some entities to adjust their accounting systems in order to capture the data required for implementation.
• Many loan covenants, business acquisition arrangements, and other contracts make use of EBITDA-based metrics. Payments that were previously classified as “rent” may now be treated as a mix of “depreciation” and “interest.” This may particularly impact earn-out arrangements based on EBITDA multiples.
• The replacement of today’s straight-line expense approach of operating leases with the front-loaded recognition of the interest expense may affect the timing of earnings associated with major projects or asset groups.

The post New accounting treatment on leases can impact small businesses appeared first on AdviserVoice.

Steven Strammello

International Accounting Bulletin has awarded Crowe Horwath International with the Advisory Firm of the Year award.

The award recognizes an organization’s advisory services that made an important difference to the success of clients, experienced significant growth across the practice and had a major impact on society.

Crowe Horwath International received the award in London on 1 October at the International Accounting Bulletin Forum & Awards.

In 2014, Crowe Horwath International experienced the highest global revenue growth in advisory, at 23% among all firms, including the Big Four. Fueling much of that growth in the Advisory space was Global Risk Consulting with a global growth rate of 40%. Crowe Horwath International’s Global Risk Consulting practice assists multinational companies with their governance, risk and compliance needs.

“Clients repeatedly use the words ‘flexible’ and ‘responsive’ when they describe our advisory services. To be recognized by the market for our work and tremendous growth in this space is an honor,” said Steve Strammello, chairman of the board, Crowe Horwath Global Risk Consulting.

“I’m delighted that our global advisory services, specifically Global Risk Consulting, has been recognized for its integrated and global business model. Clients want a professional services provider who can provide them with consistent service no matter where they choose to do business. We’re able to deliver this global experience combined with access to professionals who have deep subject matter expertise,” said Kevin McGrath, CEO, Crowe Horwath International.

The post Crowe Horwath International named ‘Advisory Firm of the Year’ appeared first on AdviserVoice.

Crowe Horwath, one of Australia’s largest accounting firms, has welcomed the signing of the China Free Trade agreement, describing it as a ‘Win Win’.

“Its a win for Australian households and a win for Australian businesses,” said Russell Wilkinson, Crowe Horwath’s National Head of Customs and International Trade.

“In short, the agreement will allow for better market access to the Chinese economy, improve Australia’s competitive position in a rapidly growing market, promote two-way investment and reduce import costs.

“Eighty five per cent of Australian goods will be tariff free immediately on implementation, expected by the end of this year, rising to 95% two years later.”

“Of course one the biggest winners in the business sector will be Australian agribusiness. Tariffs will be progressively abolished for the dairy industry. Beef and sheep farmers will benefit from the abolition of tariffs from 12-25% and all tariffs on Australian horticulture will be eliminated on implementation.”

“In the mining and energy sector tariffs will be removed on almost all Australian resources and energy products including coking coal.”

“Local manufacturing will also receive a boost with a wide range of goods including pharmaceutical products having tariffs eliminated.”

“On the import side, Passenger Motor Vehicle (PMV) imports with engines sizes less than three litres will attract zero tariff from implementation and PMV’s with engines greater than three litres will be tariff-free from January 1, 2018, mirroring arrangements for Japanese and Korean PMV imports. “

“This agreement has been a more than a decade in the making. Formal negotiations commenced in 2005 following a joint feasibility study. I think all parties can be pleased with the outcome and there is no question that it is a good thing for the Australian economy and society. The government is to be congratulated for a land mark achievement,” Mr Wilkinson said.

The post China Free Trade a Win Win appeared first on AdviserVoice.

Jeremy McPhail

Accountancy and financial advice specialist, Crowe Horwath, has urged investors to maintain a long-term approach to their investment portfolios and avoid pushing out of defensive assets in pursuit of stronger returns.

Released yesterday, the Crowe Horwath 2014 Ten Best Investment Ideas Half Year Progress Report provides an update on 10 key themes and trends identified at the start of the year by Crowe Horwath’s financial advisors, investment analysts and economists, to help investors make sense of and take advantage of these trends.

Commenting on the report, Crowe Horwath Head of Research Jeremy McPhail said the sustained low interest rate environment was fuelling investors’ appetite for investments offering higher returns.

“It’s important to remember that defensive assets form an invaluable component of any well-balanced investment portfolio and investors should ensure these assets are bedded-down before exploring riskier investments. Investors should also watch out for innovative investments that promote high yields with sustainable growth opportunities and focus on absolute returns rather than relative returns.”

Mr McPhail said that change remained the only constant and investors should remember that planning and securing a comfortable financial future is now more important than ever.

“The one constant for investors is change – social, political, technological and financial, and measures such as those outlined in this year’s Federal Budget, remind us that securing a financial future is more important than ever.

“Over the course of 2014 so far, there has been a high level of geopolitical tension plus domestically we’ve had a national review into the financial system and financial planning scandals that have caused investors to question who they can trust for genuine financial advice. There are a lot of moving parts for investors to digest,” he said.

“It’s certainly making for an interesting investment environment but what we are telling clients is try and distance yourself from that noise and focus on what you can control.”

While investors shouldn’t disregard events such as the current international tensions in various parts of the world, Mr McPhail said it was important to recognise that there are always some negatives and in most cases, investors with a portfolio of quality investments constructed around their long-term goals will be well placed to ride out any volatility.

“There has been plenty of uncertainty over the past 12 months but equity markets have still had another strong year, with returns of over 5% from the 200 largest domestic listed companies and over 8% including income.”

Key opportunities for investors

Nominated as a key theme for investment opportunity in the 2014 report is the acceleration of and rapid response to technology. According to the report, companies investing in infotainment and online shopping are worth investors’ attention, while cloud computing and companies spending on R&D and displaying high levels of productivity and competitiveness are also highlighted as worthy of consideration.

Growth in China and other emerging markets also continue to represent strong opportunities, according to the paper.

“Growth is continuing in China but as we have pointed out for some time now, that growth is changing to become much more focused on consumption. Consumers in China and India are hungry for an authentic brand experience, either at home or abroad and companies tapping into this, such as those seeking to acquire Treasury Wines, partly for their coveted Penfold’s brand and LVMH, which purchased half of Australia’s RM Williams business in 2013, are worth investors’ attention,” said Mr McPhail.

Other investment opportunities identified in this year’s paper include Australia’s travel industry, which is likely to benefit from the changing demographic shift as baby boomers retire and travel more, as well as growing inbound tourism from emerging nations.

“The pick-up in overseas travel by Chinese and Indian nationals is a positive for companies such as Westfield and Sydney Airport, and we continue to favour exposure to these companies as they look to benefit from these trends.”

Crowe Horwath’s top ten ideas for 2014:

1. Focus on your goals, not the Jones’s – Consider your personal goals and needs when setting your investments
2. Change – The only real constant – Baby boomers approaching retirement are changing where consumption is occurring
3. The innovators – Innovation is not just good for consumers but it is producing businesses that are more efficient and producing tangible shareholder value
4. Servicing the demographics – Again! – With a retiring population, aged care facilities demand will outstrip supply
5. The new political regime – With businesses holding back spending due to the 2013 Federal Election, cashed up companies are likely to be looking at mergers and acquisitions in 2014
6. Urbanisation and the growth of the middle class –  Urban population is now greater than rural globally and will lead to different consumer spending patterns
7. Where to invest offshore? – The outlook for global economies is mixed but will mainly be driven by the ongoing recovery in the US market
8. Yield does not equal income – Don’t fall into the ‘yield trap’ but look for quality stocks with both rising dividends and share prices
9. Infrastructure and property – the new annuities – Cash is returning less than inflation so look to mature property and infrastructure for income streams
10. What to do with the banks? – If you own for income, they still provide and attractive yield but they appear fully priced for growth

The Ten Best Investment Ideas provides a roadmap for investors and businesses looking to navigate the political and economic changes which may shape 2014 and beyond. Click here to to obtain a copy of Crowe Horwath’s Ten Best Investment Ideas Half Year Progress Report.

The post Remove yourself from the noise and don’t forget defensive assets: Crowe Horwath appeared first on AdviserVoice.

Australian law firms look to increase resilience.

Local law firms have sacrificed growth forecasts to protect partner profitability in response to challenging economic conditions, according to a study of more than 100 law firms by leading national accounting firm, Crowe Horwath, and the Australasian Legal Practice Management Association (ALPMA).

The ALPMA/ Crowe Horwath Financial Performance Benchmarking Study shows that the average profitability of firms has risen slightly to 9.5 per cent (from 9.4 per cent), while growth forecasts have dropped an average of 2 per cent, from an average of 11 per cent last year to 9 per cent this year.

Crowe Horwath Partner – Professional Practice Advisory, Andrew Chen, said across all tiers, economic conditions of the past 12 months have led to a contraction in the size of firms, particularly at a partner level, and growth outlooks for the remainder of 2014 are also being revised.

“Firms have shrunk to fulfil profitability commitments to partners and they’ve had to make some tough decisions accordingly. Paring back growth forecasts is a natural consequence of this,” he said.

Larger firms – those with annual revenue in excess of $20 million – have been slower to reset growth expectations year-on-year, with the business models of smaller firms more conducive to repositioning.

“Smaller firms are more nimble and have therefore adjusted quicker. Also, many of these tend to operate under an incorporated model as opposed to a partnership, so retaining profits is helping with the working capital of those smaller firms.

“Emphasis is being placed on getting more out of less and firms are beginning to see that their efforts are generally paying off,” he said.

According to Mr Chen, firms also needed to critically reassess the financial management and models they operate in. “There has been a lot of change in recent times, so reviewing forecasts in line with the operating model and amending where required will be vital to the sustainability of these firms and the health of the sector more broadly.”

ALPMA President, Tony Bleasdale, said the results showed that firms are effectively managing their cash flow and costs to protect partner profitability in a challenging environment.

“Partner profitability is typically achieved at the expense of revenue growth, and this is not a sustainable approach for firms who want to thrive and prosper in the new legal landscape,” he said.

Mr Bleasdale called on law firms to adjust their focus on strategies that will drive growth.

“Cash is king in this environment, and the study show firms have improved their working capital management which is a good start.”

“Law firm leaders need to continuously challenge the way things are done, to reward innovation and look for new ways to satisfy increasing client demands and strengthen their competitive position”, he said.

Other key findings from the ALPMA/ Crowe Horwath Financial Performance Benchmarking Study include:

• Gross profit margins have declined 2.2 per cent across all firms to an average of 55.3 per cent, representing a 7 per cent decline over four years. Competitive pricing, increasing salary costs and a drop in revenue have contributed to pressure on margins
• Average revenue per partner remained consistent across each tier of firm year-on-year, with the largest recorded change in the $5m – $10m category, where partners generated a revenue increase of $113,000 on the previous year
• Overall, firms have become less financially resilient despite improved working capital management, according to the Crowe Horwath Financial Resilience Index (2.23 this year compared to 3.02 last year). This indicates a reduction in the multiple relating to the revenue generated from available funding resources/ financial investment in firms
• Average lock-up days (the time taken to complete matters, invoice and collect fees from the client) reduced, from 155 days to 147 days in this year’s study. Four years ago, the average was 176 days.

The ALPMA/ Crowe Horwath Financial Performance Benchmarking Study uses Crowe Horwath’s proprietary benchmarking tool, Open Measures, to compare participating Australian law firms. This is the fourth consecutive year the study has been undertaken, with the aim to assess the financial health of legal practices and help firm’s benchmark performance to their peers.

The post Financial resilience of Australian law firms under strain appeared first on AdviserVoice.

Crowe Horwath’s top 10 investment tips for 2014.

Accountancy and financial advice specialist, Crowe Horwath, yesterday unveiled its Ten best investment ideas for 2014, helping investors understand how macro trends will impact investment portfolios in the medium to longer term.

The annual paper distils the views of Crowe Horwath’s financial advisors, investment analysts and economists, into 10 themes that make sense of the world and outline its investment philosophy to take advantage of these trends.

Jeremy McPhail, Head of Research of Crowe Horwath said with change being the only constant and innovation causing rapid boom and busts of industries, investors should be making more active investments for their portfolios.

“We have seen companies like Nokia, a mobile phone giant dwindle to only three percent of the global smartphone market by failing to renew their presence in an ever changing space. Companies which invest time and resources into reinventing themselves and their products or services are the foundation for any well performing portfolio,” Mr McPhail said.

Companies investing in research and development and embracing technology to increase market share –  like blood biotherapy company CSL – will be worthy of investors’ attention according to one idea.

Other investments identified in this year’s paper include Australia’s travel industry which is likely to benefit from the changing demographic shift as baby boomers retire and look to travel. Also, as emerging nations such as China and India’s middle classes develop, the number of people travelling will increase; Australia is seen as a desirable destination.

“To take advantage of this, over the medium to long term, we are increasing clients’ exposure to major airport infrastructure assets such as Sydney Airport which is forecasting consistently increasing passenger numbers, providing good room for capital growth as well as steady and sustainable income streams,” he said.

In a historically low interest rate environment, investors looking for sustainable income are being forced to move away from the safety of term deposits and cash into riskier investments. Quality property and infrastructure assets can provide a viable alternative for this in a portfolio.

“Tony Abbott has made much of the fact that he wishes to be known as the infrastructure Prime Minister, leaving behind a legacy of long life, productive assets that will continue to provide economic growth for Australia. While we expect an increase in development of new assets, we favour exposure to more mature and established infrastructure through companies like APA Group,” said Mr McPhail.

Crowe Horwath’s top ten ideas for 2014:

1. Focus on your goals, not the Jones’s – Consider your personal goals and needs when setting your investments
2. Change – The only real constant – Baby boomers approaching retirement are changing where consumption is occurring
3. The innovators – Innovation is not just good for consumers but it is producing businesses that are more efficient and producing tangible shareholder value
4. Servicing the demographics – Again! – With a retiring population, aged care facilities demand will outstrip supply
5. The new political regime – Withbusinesses holding back spending due to the 2013 Federal Election, cashed up companies are likely to be looking at mergers and acquisitions in 2014
6. Urbanisation and the growth of the middle class –  Urban population is now greater than rural globally and will lead to different consumer spending patterns
7. Where to invest offshore? – The outlook for global economies is mixed but will mainly be driven by the ongoing recovery in the US market
8. Yield does not equal income – Don’t fall into the ‘yield trap’ but look for quality stocks with both rising dividends and share prices
9. Infrastructure and property – the new annuities – Cash is returning less than inflation so look to mature property and infrastructure for income streams
10. What to do with the banks? – If you own for income, they still provide and attractive yield but they appear fully priced for growth

The Ten Best Investment Ideas provides a roadmap for investors and businesses looking to navigate the political and economic changes which may shape 2014.

The post Ten of the best to help you invest smarter in 2014 appeared first on AdviserVoice.