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GAM Investments loses local lead
Alex Zaika, the local head of GAM Investments, has resigned from his role at the Switzerland-based asset manager to join another firm.
Inquiry urges government to consider paid reproductive leave
The Senate committee tasked with investigating issues related to menopause wants the government to research the efficacy of existing reproductive leave policies in Australia and overseas with consideration to introducing it in the National Employment Standards.
Fed cut will not move the dial for RBA
The US Federal Reserve delivered a major 0.5% interest rate cut, but experts are saying Australia is still far behind.
Macquarie cops US$80m from SEC
The US securities watchdog fined Macquarie Asset Management (MAM) US$80 million after a subsidiary fudged the valuations of collateralised mortgage obligations (CMOs) within a fixed income strategy.
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Featured Profile
Elysse Morgan
HD CLIENT SOLUTIONS, AUSTRALIA & NEW ZEALAND
STAFFORD CAPITAL PARTNERS PTY LTD
STAFFORD CAPITAL PARTNERS PTY LTD
Stafford Capital head of client solutions, Australia and New Zealand Elysse Morgan spends most of her working day engaging with the keepers of capital, encouraging them to break new ground, to step away from the conventional, and go against the grain with the nascent asset class of timber. Andrew McKean writes.
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The members of the FSC have always known the advisers responsible for the inappropriate advice/behaviour yet have not acted to stop it. The blame should lie at the feet of those responsible not with the overwhelming number of advisers that daily provide excellent advice to the people who need it.
LIF reforms as they currently stand will only increase the cost of advice and drive more people to platform (superannuation ) and direct insurance which we all know to be less comprehensive and or more expensive. These reforms which ASIC support will be the next big issue for ASIC in the insurance space as consumers face poor claims outcomes as they were forced into these products without knowing the differences in quality and price.
Fixing the problem that ASIC has identified is simple under the current rule, it just requires the three major players to do their job, ASIC (police) which they are now starting to do, licensees be responsible for their AR's actions (withdraw AR status on known offenders) and Insurers not dealing with the known offenders or encouraging some of these behaviours.
It's simple, effective and doesn't require more regulation.
1. Code of conduct Hmmmm, not one word in it about looking after the interests of clients!
2. Remuneration, thanks for HALVING our income and setting us on a path to only 20%, being a fifth our income (my husband and kids send their thanks).
3. LIF 'seismic reform' only seismically increases banks/insurers already record profits
4. LIF - Can you tell us one consumer benefit and prove it?
5. Democracy - did you give your members the opportunity to vote on whether they support the seismic industry changing legislation?
6. EGM - so many members in so short a time want to have their say on the LIF, can you ignore all of them?
7. There was no DIRECT correlation with upfronts with ALL advisers in ASIC 413
Please tell us one benefit for consumers in the LIF that you so ardently support.