Financial Standard Comments - Vision for the future

Comment by M Hansen (Independant Adviser)

M Hansen (Independant Adviser) — Thu, 02 Aug 2012 13:06:41 +1000

11% is not enough, secondly employers will eventually say no more. Commission free advice with 80-85% of so called advisers employees of banks and union based super funds with greater govenance, I'd like to see that.

Reply to article

For original story, Click Here.

Comment by Laurie Pennell (OzPlan Financial Services Pty Ltd)

Laurie Pennell (OzPlan Financial Services Pty Ltd) — Thu, 02 Aug 2012 13:11:06 +1000

What will be even better than what Shorten thinks is that the Federal Government will not be recognisable at that time as Labor will have been reduced to a political non-event.

Reply to article

For original story, Click Here.

Comment by Richard Baker (MBAFS)

Richard Baker (MBAFS) — Thu, 02 Aug 2012 13:24:54 +1000

Now Shorten is giving advice to fund managers:

In investments, he encouraged more should go offshore. "Ideally, fund managers should become less timid about looking at emerging markets, because in five years' time, what we call emerging markets will become merged markets."

I had no idea he was qualified to give this advice?

Reply to article

For original story, Click Here.

Comment by Richard Baker (MBAFS)

Richard Baker (MBAFS) — Thu, 02 Aug 2012 13:28:56 +1000

Ultimately, the Government is committed to providing Australians with higher retirement savings, with SG likely to reach 11% by 2017...?

Tell that to every client I have over 50 who, because of Shorten halving the concessional contribution limits, can't get enough into super to make a comfortable retirement a reality.

We should be handing out how to vote cards when we have these discussions with our clients.

Reply to article

For original story, Click Here.

Comment by Sam Campbell (Morse)

Sam Campbell (Morse) — Thu, 02 Aug 2012 13:38:56 +1000

Shorten gets quote of the week - "emerging markets will become merged markets", what are all emerging markets going amalgamate, Bill? Surely he me means emerged as opposed to merged... Another successful Shorten press release

Reply to article

For original story, Click Here.

Comment by frank smith (adviser compliance services)

frank smith (adviser compliance services) — Thu, 02 Aug 2012 14:27:51 +1000

He's right that the industry won't be recognisable in 2017- thanks to him.

Reply to article

For original story, Click Here.

Comment by Darryl Smith (Darryl Smith)

Darryl Smith (Darryl Smith) — Thu, 02 Aug 2012 14:30:36 +1000

The really sad bit is that they don't realise that they just don't get it. I hope you are right Laurie Pennell.

Reply to article

For original story, Click Here.

Comment by Craig Yates (Lifestyle Financial Group)

Craig Yates (Lifestyle Financial Group) — Thu, 02 Aug 2012 15:44:36 +1000

To think that if a planner were to charge a fee or commission of 1 or 2% on a superannuation contribution is almost considered criminal by Shorten, when the Govt continue to suck 15% of every concessional super contribution in the country every year for no service, advice or guidance provided,it is no wonder he is getting all turned on and redder by the minute with the prospect of 11% SG contributions! It's like running a business with an ever increasing, legislatively controlled income stream, but with no overheads !!

Dairy cows give milk, but Shorten Cows give cash !

Reply to article

For original story, Click Here.

Comment by Henry Bennett (AMPFP)

Henry Bennett (AMPFP) — Thu, 02 Aug 2012 19:42:48 +1000

My only comment is to be careful to what you wish for.

Reply to article

For original story, Click Here.

Comment by Andrew Richards (HPWM)

Andrew Richards (HPWM) — Fri, 03 Aug 2012 13:14:55 +1000

Golden goal Bill? In reality you and your soon to be former government have kicked an own goal. Reducing the concessional cap from $50k to $25k and in turn selling out many ordinary Australians who voted for you and your party is a disgrace.

Perhaps these latest odds of the next election result will afford many of these Australians some comfort...

Coalition $1.10
Australian Labor Party $6.00

Reply to article

For original story, Click Here.

Comment by Alan B (Synchron)

Alan B (Synchron) — Tue, 07 Aug 2012 11:06:53 +1000

Some telling comments here, there appears to be quite a bit of despair and cynicism with Mr. Shorten and the current government, surprise, surprise! Consumers and advisers are fed up with the chopping and changing to superannuation. Yes it is a cash cow for government but shouldn't it be for us and our retirement?
No commision super but the industry fund ex union managers are in for their chop.
Agree Laurie, this Labor shambles facing political oblivion and can't come soon enough.

Reply to article

For original story, Click Here.