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Adviser, Practice of the Year named

JAMIE WILLIAMSON  |  SATURDAY, 13 OCT 2018
... awards. Hugh Robertson of Queensland's Centaur Financial Services was named Adviser of the Year, while TWD Australia took home the Practice of the Year Award. In announcing the winners, AFA chief executive Phil Kewin described both Robertson and ...

Reforms impact adviser mental health

JAMIE WILLIAMSON  |  FRIDAY, 12 OCT 2018
Financial advisers must band together to support their peers who are struggling to cope with the immense change occurring in the industry. Speaking at the AFA National Adviser Conference, Mindstar chief executive Aaron Williams said an increasing number ...

ANZ chief says remediation is "distracting"

KARREN VERGARA  |  FRIDAY, 12 OCT 2018
... that came from the top. Elliot said some customers had to wait 15 years for refunds when the bank's system calculated home loan products incorrectly; he admitted that this was "shameful" and "wrong." The panel also endeavoured to find out why the ...

Aged care RC will spook Aussies into advice

HARRISON WORLEY  |  THURSDAY, 11 OCT 2018
... that what they really want to do is have greater control and independence and be able to choose the option of staying at home," David said. "The only way they're really going to be able to do that is by properly planning for it. We think that there will ...

CBA fires up over Dollarmites criticism

HARRISON WORLEY  |  FRIDAY, 5 OCT 2018
... of Australian adults still have their first bank account and this brand attachment often means they take out credit cards, home loans or other products with the same bank," Kirkland said. "46% of people got their first account with the Commonwealth Bank ...

Millennial money changes course after RC

KANIKA SOOD  |  WEDNESDAY, 3 OCT 2018
... outcomes that may not benefit the average Australian, like more expensive financial advice or making it harder to obtain a home loan. Millennials need to continue the trend of saving and investing and improving their financial literacy early to meet ...

Chief economist update: Keep one eye open on the housing market

BENJAMIN ONG  |  WEDNESDAY, 3 OCT 2018
... continued to ease and nationwide measures of rent inflation remain low." Indeed. CoreLogic's "5 capital city aggregate" home value index decreased by 4% in the year to October 3, owing to a 6.1% year-on-year drop in Sydney home values, a 3.5% decline ...

AMP ditches SMSF lending

KANIKA SOOD  |  WEDNESDAY, 26 SEP 2018
AMP Bank has pulled the plug on its SMSF lending business, joining CBA and Westpac. AMP will support current SMSF home loan customers. But starting November, they will not be able to switch to interest-only or refinance their loans. This leaves Macquarie ...

Retirement living advice is an opportunity: Challenger Financial Standard Technical Services Forum

KARREN VERGARA  |  FRIDAY, 21 SEP 2018
... passed to the right people and at the right time, he added. McMullen also presented living options as well as the various home support available to help advisers have a better conversation with retiree clients. This week, the Federal Government announced ...

Big-spending retirees live in Melbourne: Research

KARREN VERGARA  |  TUESDAY, 18 SEP 2018
Melbourne's surrounding suburbs are home to Australia's highest spending retirees, Milliman analysis shows. Retirees living in the wealthy enclaves of Armadale, Prahran, Windsor, South Yarra East and Toorak or Stonnington West spend $56,711 per year ...