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PROFILE: Centric Wealth CEO Phil Kearns

JAMES FERNYHOUGH  |  WEDNESDAY, 26 FEB 2014
Ex-Wallaby captain and chief executive ofA Centric Wealth Phil Kearns tells JamesA Fernyhough that there are more similarities between rugby and financial advice than first meet the eye. For a future Wallabies captain, Phil Kearns' rugby career did ...

ASIC accepts EU from forex broker over prohibited IMA

STAFF WRITER  |  TUESDAY, 25 FEB 2014
ASIC has accepted an enforceable undertaking from online foreign exchange broker Forex Financial Services Pty Ltd (Forex FS). ASIC's investigation found that between March 2010 and October 2011, Forex FS offered an account known as an individually managed ...

GenYs shy away from independent, professional advice

LAURA MILLAN  |  MONDAY, 24 FEB 2014
Young Australians rely mostly on family, friends and banks for financial advice, while accountants and financial advisers are out of favour, RaboDirect research has found. The 2013 RaboDirect National Savings & Debt Barometer (NSDB) found that 36% of ...

Latest Financial Standard issue available on the iPad app

STAFF WRITER  |  MONDAY, 24 FEB 2014
In the latest edition of Financial Standard, we look at the pros and cons of setting up your own Australian Financial Services Licence (AFSL). We also investigate the calls from some sectors of the industry to take superannuation out of the modern awards ...

SPAA announces new chair

JAMES FERNYHOUGH  |  FRIDAY, 21 FEB 2014
The SMSF Professionals' Association of Australia (SPAA) has appointed Peter Crump as its new chair, replacing Andrew Hamilton. Crump has been on the SPAA board since 2010, and has been vice chairman for the past two years. A spokesperson for SPAA said ...

Ripoll demands parliamentary debate for FoFA reforms

ALICE URIBE  |  FRIDAY, 21 FEB 2014
Shadow Financial Services and Superannuation Minister Bernie Ripoll has called for a full parliamentary debate for the government's proposed Future of Financial Advice (FoFA) reforms. "We need a proper parliamentary debate rather than force changes ...

General advice exemption "irrelevant" to advisers: AFA

LAURA MILLAN  |  FRIDAY, 21 FEB 2014
... exemption may have a role to play elsewhere in the financial services industry, it is not relevant for the financial advice profession," the AFA said while denying media suggestions that the amendment was driven by the financial advice profession and ...

SMSF industry welcomes more flexible penalties

ALICE URIBE  |  THURSDAY, 20 FEB 2014
The government's re-introduction of measures that allow for more flexible penalties for trustees who breach rules has received general support from the self-managed superannuation fund (SMSF) industry. Speaking at the 10th SPAA SMSF National Conference ...

FPA puts TASA back in the agenda

LAURA MILLAN  |  WEDNESDAY, 19 FEB 2014
... reference guides, frequently asked questions and a library of articles. "Our priority is to support the financial planning profession, which in turn has the best interest of Australian investors at heart," the FPA chief executive Mark Rantall said. "We ...

Planners not meeting SMSF trustee demands

JAMES FERNYHOUGH  |  WEDNESDAY, 19 FEB 2014
Financial planners still have a long way to go to meet the needs of self-managed super fund (SMSF) trustees, a new report has shown. The research, conducted by CoreData and jointly issued by the SMSF Professionals' Association of Australia (SPAA) and ...