Share market reporting season excites many in our community: apart from the daily news commentators, everyday Australians have reason to show an interest (as most of them have, through their superannuation accounts, money invested in shares in Australian companies). The Australian Sharemarket has responded well to the positive results posted by our listed companies for the June 2014 quarter: the linked video brings the thoughts of IML's Hugh Giddy (their [...]
The Value of Advice concept... what you are paying for! Valuing Financial Planning advice: is that process different from valuing any service or advice? Clients of financial planners have long been valuing financial planning advice, but legislation by the then Labor government in 2013, has given rise to discussion as to what value investors receive for the fees they pay to their wealth management service providers. Financial Planners now need [...]
- The Future of Financial Advice (FoFA) The level of attention that government has paid to the financial planning industry in the years following the exposure of unacceptable practices within the industry, clearly shows that financial advice matters. The most important matter that the regulations now in place address, is the fiduciary duty owed by the financial adviser to their clients. Whilst others might well join the chorus, we have always [...]
Superannuation has been a hot topic of discussion recently – and for all the wrong reasons! The seasonal practice by governing political parties of leaking information about budgetary proposals under consideration led to considerable, mostly ill-informed discussion in the community.
The government has legislated several changes to the practices and processes of the financial planning industry. The next sign of these that you will see directly from us is the Fee Disclosure Statement (FDS). This is due to be issued to clients who have engaged their financial planner under a service package/ payment arrangement whose next anniversary falls after 30 June 2013.