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Market wrap

AAP  |  WEDNESDAY, 3 DEC 2014
The Australian share market is slightly higher in the wake of Wall Street gains but falls in oil, gold and iron ore prices. IG market strategist Stan Shamu says the market is lacking a catalyst to trade much higher. "The only major development from ...

Laminar fund wins award for innovation

JAMES FERNYHOUGH  |  TUESDAY, 2 DEC 2014
Laminar Credit Opportunity Fund has been awarded the Victorian Innovation in Funds Management Award at the Melbourne Financial Services Symposium in Melbourne yesterday. The award, which is sponsored by the Victorian Government, recognises firms who ...

Industry welcomes grandfathering deal

LAURA MILLAN  |  WEDNESDAY, 26 NOV 2014
The financial services industry has welcomed the parliamentary agreement between the Coalition and Labor to fix the unintended consequences of scrapping grandfathering from the Future of Financial Advice (FoFA) legislation. The Financial Planning Association ...

Countplus appoints CEO, rejigs board

LAURA MILLAN  |  WEDNESDAY, 26 NOV 2014
Countplus chief executive Michael Spurr will step down after four years in the job and will be replaced by Total Financial Solutions (TFS) chief executive. TFS is Countplus' financial planning group subsidiary and its chief executive Phillip Aris will ...

Murray takes aim at industry culture

JAMES FERNYHOUGH  |  TUESDAY, 25 NOV 2014
Former Commonwealth Bank boss David Murray has taken aim at the culture of the financial services industry, arguing there is an 'established mythology' of distrust that must be addressed. Speaking at an event in Sydney yesterday, Murray said that post ...

Women-led companies better for investors

ALEX DUNNIN  |  TUESDAY, 25 NOV 2014
The Australian government yesterday released its first Gender Equality Scorecard and while the results are discouraging, a separate international report released by Credit Suisse shows that investors make more money investing in women-lead enterprises. ...

FoFA opt-in to cause advisers biggest headache

JAMES FERNYHOUGH  |  THURSDAY, 20 NOV 2014
Financial planners are frustrated with the sudden and unexpected change to the laws governing financial advice, with some raising particular concerns about the requirement to regularly ask clients to resign their contracts, known as the opt-in requirement. ...

FPA Congress begins amid FoFA unrest

ALICE URIBE  |  THURSDAY, 20 NOV 2014
The Financial Planning Association (FPA) Professionals Congress kicked off in Adelaide this morning, in the wake of the Senate's disallowance of the government's changes to the Future of Financial Advice (FoFA) legislation. "Our professional body has ...

Cormann to keep up the FoFA fight

ALICE URIBE  |  THURSDAY, 20 NOV 2014
The government will continue with its quest to push through amendments to the Future of Financial Advice (FoFA) reforms despite last night's crushing defeat in the Senate. Finance Minister Mathias Cormann told ABC Radio this morning that the government ...

Minute slip on Wall Street

BENJAMIN ONG  |  THURSDAY, 20 NOV 2014
... between the lines and come up with a rant 10-15 minutes after it's been published - you'll say stuff it too. Simply stupid. Yes Virginia, for how can you reconcile these with the Fed's 29 October decision to go ahead and kill QE? And then, there's the ...