Financial advice: Government bans new adviser commissions from 2012
We’re going to look back at this time with disbelief: for so many years the financial services industry was permitted to flog products that weren’t necessarily in the best interests of clients/investors and pretend that this product selling was ‘financial advice’.
How many financial advisers operate in Australia?
Q: I’m desperately looking for information on an approximate breakdown of how many Australian financial advisers are part of a dealer group, and how many are operating by themselves as individual businesses. I’ve asked ASIC, FAA and the FPA and I can’t get an answer.
Financial advice for less than $500? You’re dreaming.
What do you think it costs for a financial adviser to prepare a five-year investment plan? According to a recent survey, nearly half of us (44%) believe that it will cost less than $500…
Warning: APRA suspends trustee of 4 super funds
If you’re a member of one of the following super funds, then you need to read this article. Astarra Superannuation Plan, Astarra Personal Pension Plan, My Retirement Plan, (including subplans – Seagrims Retirement Plan, TIC Super, and Titanium Retirement Fund), Employers Federation of NSW Superannuation Plan.
THE SOAPBOX: Let’s raise our glasses to Sherry
… that is, Nick Sherry, the Assistant Treasurer, and former Minister for Superannuation and Corporate Law. Senator Sherry has stood his ground against the mighty force of the financial services industry and it appears… hopefully, eventually… if the planets align, [...]
Frustrated with frozen investments
Q: I’m writing to see if you have any view on the fact that Colonial have frozen the Income funds belonging to a SMSF, and I have no idea when the suspension on redemptions will be lifted. Since the freeze [...]
THE SOAPBOX EXCLUSIVE INTERVIEW: Cheap financial advice now available – what does it mean for consumers?
Superannuation funds are now providing cheap (and in some cases, free) personal financial advice to super fund members with the blessing of the Australian Securities and Investments Commission (ASIC). In early July 2009, ASIC announced that it’s okay to provide [...]
Turn $4,500 into $300,000 without even trying
All you need is a job and some time. With regular modest superannuation contributions you could have up to $500,000 or more in retirement savings! It doesn’t matter what age you are – 25, 35, 45 or 55 – it [...]
Choosing a super fund without an adviser
Any consumer thinking about switching super funds may want to reconsider whom they rely upon for financial advice, based on survey findings released in 2006 by financial regulator, the Australian Securities and Investments Commission (ASIC). The survey found that nearly [...]
