Editor's Choice
Perennial to close three responsible investment funds
|Perennial Partners will shutter three responsible investment funds that manage $140 million in combined assets, as they fall short of reaching scale and achieving their investment objectives.
LGT Wealth Management hires five advisers from rival
|LGT Wealth Management Australia has expanded its Syndey private client advisers' team with five senior hires from UBS Wealth Management.
MSC Group awarded mandates for natural resources strategy
|MSC Group will provide administration capability and trusteeship for a natural resources strategy focusing on the energy sector and select commodities.
Norges Bank slashes exposure to US government bonds
|Norges Bank Investment Management (NBIM), the investment manager of Norway's sovereign wealth fund, the Government Pension Fund Global, has proposed a major restructuring of the fund's exposure on US government bonds.
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Sarah Shaw
GLOBAL PORTFOLIO MANAGER
4D INFRASTRUCTURE
4D INFRASTRUCTURE
It wasn't confidence that prompted Sarah Shaw to walk away from established investment houses and co-found 4D Infrastructure in 2015. It was something she believes is far more important: courage. By Vinny Vucago.







This will shake the tree better than any thing else I can think of.
I know a number of very experienced yet extremely incompetent advisers who were massaged through by former licensees and who now have RG146 status via decidedly dodgy internal training and examination programs. Why? Because they were huge writers of business showing that ultimately it is a sales culture that drives the model and this has to be flawed. Even today, it isn't about the quality of the advice but the quantity of FUM.
I too will put up with the pain of getting my head into the books again but rest assured; this single reform will do more than anything to move us from industry to profession.
Go for it ASIC! One hundred percent in support of this.
So, let me understand this....extra training means less fraud and dodgy dealings. Maybe someone should check out the stats on police fraud investigations that involve solicitors and accountants. It would be interesting to compare those percentages to frauds involving financial planners. Medcraft might be surprised.
hahaha......testing competence, when all else fails.....
Perhaps ASIC should some of the other procedures followed by SEC. How about the disclosure of additional information requests to issuers of debentures? They chose not to follow that policy but instead obsess about advisor education.
I have a suggestion. Why not have a government operation that doesn't go to sleep at the wheel and then grab at straws to try and cover their incompetence.
No amount of education will change a thief or stop criminal behaviour. ASIC with teeth would do fine.
Here we go again. I studied through Deakin University and then achieved my CFP. Why should I have to sit an exam or anyone else who has been practicing as long as I have? Since when is that going to gaurantee, if I had one ounce of dishonesty in me, that I do not act fraudulently or inappropriately when advising my clients?
I agree with Tony R and Stephen C.
Have any of these people in parliament, ASIC or other government junket attendees considered that those of us who specialize in life-risk consulting with clients (and that alone) would have to waste our time and money going through fully unnecessary exams that have absolutely nothing to do with advising clients on insurance? What happens if we fail the exam, does that mean we are incapable or can't be trusted to advise on insurance then? What utter rot.
If they can separate us from the 'financial planners' and understand we don't need this (or most of the stuff forced on us by various CPD providers) then the word segregation would start to bring sanity to this circus. "Debt instruments, packaged securities and options" . . . please; give me a break! It would be like having accountants study and sit for exams on life-risk advising - it would make as much sense as that.