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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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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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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FPA members in shape for FoFA

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Feedback from FPA members shows satisfaction with FoFA campaign With the Future of the Financial Advice (FoFA) reforms kicking off today, the Financial Planning Association (FPA) members have been at the forefront of preparations for the implementation of the new legislations. Member feedback from Bulletproof Financial Planning, an FPA initiative to support members in the

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FoFA solutions bring additional benefits to non-aligned financial advice firms

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With the Future of Financial Advice (FoFA) kick-off date of 1 July looming, specialist investment management group Select Asset Management Limited (Select) has urged Australian financial advice firms to have a hard look at underlying investment structures used to manage client portfolios. “A prevailing sentiment is that FoFA has been a hard slog, with little

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