It's not that much of a stretch anymore for savvy financial advisers to offer a broad range of investment and advisory services under one roof, and ring-fence their clients in doing so. David Heather writes.
The Australian Securities Exchange's (ASX's) mFund offering has seen most of its traffic from advisers in its post-launch year, with the majority believed to be there to dilute their clients' allocation to cash and Australian stocks.
Wealth managers around the world are accepting the onset and uptake of social media is irreversible and that they need to do something about it. The banks are pretty advanced in running social media strategies but asset managers and the wealth industry are not.
Investors are turning to non-aligned businesses in their droves and some institutions are shutting up shop.
Many of us are disengaged with our super. We need to stop thinking of this as a bad thing. Rather than trying to look more like self-managed super funds, industry funds should seriously consider Collective Defined Contribution schemes as the next big thing for those of us with more sense, or better things to do than managing our own super.
Reforms to the Future of Financial Advice "opt-in" requirement and big shake-ups for the life insurance market that compromise remuneration practices, increase compliance requirements and escalate the cost of doing business are forcing financial advisers to second-guess the affordability of certain clients.
With the tightening of pension eligibility proposed in this year's federal budget finally passing both houses of Parliament on June 23, financial advisers have until January 1, 2017 to ensure their clients structure their finances to deliver the best possible outcome.
Risk advisers are expected to desert the industry en masse in the next three years, with the new commissions regime considered untenable for both independents and the next generation of planners.
Management guru Peter Drucker coined the phrase "culture eats strategy for breakfast". It's one of those great liners that captures a whole thesis in a few words. Drucker was telling the business world that even the most carefully crafted business plan would fail if its objectives were not aligned to the values, beliefs and behaviour of those entrusted with its execution.
'Chair-warming' paraplanners struggle for recognition as career professionals.
Clients expect more than ever from their professional advisers and they want to pay less.
