Ray White to launch financial advice dealershipBY JAMES FERNYHOUGH | MONDAY, 15 SEP 2014 12:20PMReal estate business Ray White has confirmed it is moving into financial advice with the launch of planning dealership Wealth Market. Related News |
Editor's Choice
Netwealth reports record $36bn FUM in Q1
Netwealth observed record growth over the first quarter of the financial year, with both funds under administration and funds under management increasing by $3.4 billion and $2.4 billion, respectively.
First Sentier lists active ETF
First Sentier has made the First Sentier Global Listed Infrastructure Fund (Hedged) Active ETF available to Australian advisers and investors.
Janus Henderson launches global equities active ETF
Janus Henderson Investors has launched a global equities strategy designed to combine a broad market exposure with research-driven stock selection.
SILC partners with Totality to give clients brokage access
Wholesale trustee The SILC Group (SILC) has partnered with brokerage firm Totality to provide its equity fund manager clients with access to institutional-grade prime brokerage services.
Further Reading
Products
Expert Feed
When geopolitics becomes a portfolio risk
Geopolitics is back - again - and Australian investors can no longer treat it as distant background noise.
Does association membership still matter?
With all the changes the advice sector has experienced in recent years, such as regulatory reform and increased education and professional standards ...
Digital assets and where they stand in 2026
So far in 2026 digital assets have captured the headlines largely for the wrong reasons, but that doesn't tell the full story.
Rethinking default design in a changing market environment
The evolution underway in the US DC system highlights the value of periodically reassessing default design assumptions.
Featured Profile
David Sharpe
CHAIRMAN
FINANCIAL ADVICE ASSOCIATION AUSTRALIA
FINANCIAL ADVICE ASSOCIATION AUSTRALIA
A family man, business owner, cricket fanatic and financial adviser, David Sharpe has many facets. One of his biggest legacies, as he steps down as chair of the Financial Advice Association Australia, is leaving the profession stronger than he found it.
The Financial Standard podcast Tune in each week as we discuss the latest developments in Australia's wealth management industry. |  |
I have no problem with Ray White joining the list of those who wish to derive an income from the business of investments and the like, but I would like to point out the oxymoron included in the words "to launch financial advice dealership". Dealing and advising are completely separate and - by definition - mutually exclusive operations.
A dealership is about selling/dealing in product: an advisory is about discussing various options and recommending one or more as superior - and therefore MUST exclude the completion of or interest in any transaction, if it is to be advice rather than dealing.
Therefore our solution to the age-old conundrum of regulation in this industry (note: NOT profession) is to separate advice from dealing and NOT allow dealers to call what they do advice. Advisers (about product) should be licenced separately from dealers (sellers of product) just as they once were, 30 years ago. It's a simple but to some unpalatable and dare-I-say inconvenient truth.