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Advice firm rebrands, confirms independence

JAMIE WILLIAMSON  |  WEDNESDAY, 29 AUG 2018
A Victorian financial advice practice is readying itself for the future of advice, rebranding and restructuring its business model to now meet the legal requirements for independence. Celebrating its 10th anniversary, Hogben Farrell Financial Planning ...

Chief economist update: Blame the US economy for the widening trade gap

BENJAMIN ONG  |  WEDNESDAY, 29 AUG 2018
From "fake news", US President Donald Trump might label the Census Bureau's numbers on "International Trade in Goods" as "fake stats". It refutes his claim in March that "trade wars are good, and easy to win." The report shows America's balance ...

Royal Commission challenges super regulators

KARREN VERGARA  |  TUESDAY, 28 AUG 2018
The Royal Commission cast serious doubts over the ability of APRA and ASIC to effectively regulate the superannuation industry, questioning their purpose in safeguarding retirement savings and the stability of the financial system. In his fifth round ...

Chief economist update: Famous last words

BENJAMIN ONG  |  TUESDAY, 28 AUG 2018
... high! Yippee-kay-yay and hallelujah! This is good for stock markets around the world, including Australia. One only has to read the Australian Financial Review to conclude that what happened on Wall Street the night before happens in the Australian equity ...

Aberdeen Standard launches AI-powered global equity fund

KARREN VERGARA  |  WEDNESDAY, 22 AUG 2018
... changes through time," he said. Standard Life Aberdeen co-chief executive Martin Gilbert said the ability to use machines to read and understand vast amounts of data to forecast market moves accurately for active investment managers has spawned innovation ...

CFA adds AI and fintech to curriculum

KARREN VERGARA  |  FRIDAY, 17 AUG 2018
The CFA Institute is introducing artificial intelligence, fintech and machine learning to its curriculum as of next year. The Institute updated its subject areas in an effort to arm candidates with the skills and knowledge needed for success in the ...

Chief economist update: Don't mind the gap

BENJAMIN ONG  |  FRIDAY, 17 AUG 2018
Hear ye, hear ye... the unemployment gap has closed! The loss of 3900 workers (versus expectations for a 15,000 addition) may have made for sobering reading on the Australian labour market but this was a small give from the 58,200 additional workers ...

Intra-fund advice conflicted: Royal Commission

KARREN VERGARA  |  THURSDAY, 16 AUG 2018
... could take the form of factual information or general advice, he said. Letters issued by advisers to members transitioning read: "Around three years ago the government changed super legislation and it's coming into effect now. As a result, if you ...

ANZ grilled over Smart Choice sales

JAMIE WILLIAMSON  |  THURSDAY, 16 AUG 2018
... staff conduct an A to Z review of the customer's financial situation as well as their goals and objectives, and then read a delinking statement and a general advice statement before recommending products, Pankhurst said. Hodge asked Pankhurst whether ...

Chief economist update: Look ma, inflation ate my wages

BENJAMIN ONG  |  THURSDAY, 16 AUG 2018
"Wage growth in Australia has grown at an annual rate of 2.1%, continuing to stabilise between 2-2.1% over the past four quarters." That's the positive spin from ABS chief economist Bruce Hockman. Not necessarily negative - wages are still growing ...