Key findings of the Investment Trends 2014 Planner Business Model Report

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Planners’ businesses continue to improve But many are facing challenges relating to demonstrating value to clients and improving business efficiency Aligned dealer group channels are at risk and we may be entering a period of increased upheaval Planners’ businesses have continued to improve from last year Improvements across a range of key planner business metrics

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Software investment hits record $3.26 billion

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Australian businesses invested a record $3.26 billion in software in the second quarter of 2014, reflecting the rising importance of information technology to the economy overall and to the financial services sector in particular, according Paul Resnik, Co-Founder of FinaMetrica, a software provider for the wealth management industry. Second-quarter Australian National Accounts data from the

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SPAA gives thumbs up to changes to best interest duty

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The SMSF Professionals’ Association of Australia (SPAA) has thrown its weight behind the Federal Government’s decision to amend how best interest duty (BID) works as part of the FoFA reforms. SPAA CEO Andrea Slattery says: “We support the amendments because the existing legislation had the potential to be too broad in its application, to create

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FoFa amendments deliver new professionalism advantage

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The Financial Planning Association of Australia (FPA) has encouraged Australia’s professional financial planning community to seize the opportunity handed to it by Assistant Treasurer Arthur Sinodinos and rise above the noise of tired, product-centric arguments in the first weeks of the amended Future of Financial Advice (FoFA) reforms. The Government announced key FoFA amendments, welcomed

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Less heat in FOFA, employee numbers static, focus on training – results of the SLICE survey

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FOFA The inaugural SLICE financial planning survey has revealed that only 9% of respondents thought that the introduction of FOFA has negatively impacted on their business growth in terms of staffing and while 25% were unclear of the ramifications of the legislation in follow up discussions most suspected there would be some increase in costs

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FPA calls on ‘branch and root’ Financial System Inquiry to leave recent financial advice reforms time to germinate

The FPA has welcomed the release of the Coalition Government’s terms of reference to the upcoming Murray Inquiry, but says any more financial advice reform should be off the table. FPA CEO Mark Rantall said: “Financial planning and advice has been through one of the most comprehensive reform processes yet seen, through the previous Labor

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Majority of Australian CEOs believe technology plays major role in delivering new financial products: FSC-DST CEO Report

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Nearly all CEOs (96%) in a recent survey believe technology is a key consideration when conducting strategic planning and an overwhelming majority (80%) believe technology plays a major role in innovation and delivering new financial products. These are the findings of the 13th annual FSC‐DST CEO Survey based on the views of 55 leading CEOs

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Australia’s ‘Year of Uncertainty’ weighs heavily on business

Banking & finance sector struggling to find clarity in murky regulatory waters It seems that forewarned is far from forearmed for Australian organisations, which have ranked uncertainty due to regulatory change as one of their ‘top three’ risk concerns. And for the banking and finance sector, regulatory risk is the number one worry, ranking even

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FoFA Delivers Positive Industry Evolution

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Seaview Consulting Directors Bob Neill and David Fotheringham are of the opinion that contrary to much of the angst amongst dealer groups and advisers, FoFA is in reality a catalyst for long term business transformation that will actually improve operational efficiency and customer service. According to Neill and Fotheringham, practice owners are falling into one

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IRESS delivers Australia’s preferred solution for FoFA fee disclosure

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Advice businesses representing more than 8,000 advisers have embraced IRESS’ XPLAN-­‐CommPay solution to meet Fee Disclosure Statement (FDS) obligations imposed by the Future of Financial Advice (FoFA) reforms. Amongst these advice businesses are the vast majority of Australian institutional wealth businesses, along with many high profile boutiques, independent AFSLs and a large number of independent

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