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AZ NGA assets hit $6bn with latest acquisition

ALEX BURKE  |  THURSDAY, 2 NOV 2017
An AZ Next Generation Advisory subsidiary has acquired a $284 million client book, bringing the group's total assets under advice to more than $6 billion. Wise Planners, which AZ NGA acquired in 2015, bought the client book from AFM Advisers. AFM was ...

Fed does the expected, will do as expected

BENJAMIN ONG  |  THURSDAY, 2 NOV 2017
... continuing to strengthen, the Committee continues to expect inflation to move up and stabilize around 2 percent over the next couple of years, in line with our longer-run objective." Indeed, the US labour market continues to strengthen. The unemployment ...

Advisers grapple with client retention: Research

KARREN VERGARA  |  WEDNESDAY, 1 NOV 2017
... Investment Trends research warns. Despite a record high of three million Australians intending to use a financial planner over the next two years, the industry is grappling with client retention issues and falling short in meeting specific demands. Over ...

AMP rolling out enhanced goals-based advice business

DARREN SNYDER  |  WEDNESDAY, 1 NOV 2017
AMP will roll out the next evolution of its dedicated goals-based financial advice business this month with an expected step change being the way clients converse about their advice experience. AMP Advice will use real-time modelling to demonstrate ...

CFS annuities hits $1bn milestone

KARREN VERGARA  |  TUESDAY, 31 OCT 2017
... annuities was an important first step to evolving our platforms for the future and the delivery of FirstChoice Managed Accounts next month shows our continued commitment to advisers by reducing the risk, complexity and cost of delivering portfolio construction ...

Two holds and a raise

BENJAMIN ONG  |  TUESDAY, 31 OCT 2017
... the last Fed meet...one of strong growth and low inflation, that ensures that the Fed keeps its word of another rate hike next month. Most interesting would be the Bank of England's (BOE) meeting on 2 November. Unlike America and Japan, the UK's has ...

Surefire Melbourne Cup bet

BENJAMIN ONG  |  MONDAY, 30 OCT 2017
Want a sure bet for next week's Melbourne Cup? Bet on the Reserve Bank of Australia (RBA) not moving on interest rates when its board meets on Melbourne Cup Day, Tuesday 7 November. Yes Virginia, I know, it's like saying that sugar is sweet and made ...

Robo-advice raises alarm: ARRIA

KARREN VERGARA  |  MONDAY, 30 OCT 2017
... instance, the robo advised: "You have 100% certainty of achieving your objective by investing in fixed interest and cash next for the next 15 years." Based on today's capital markets and for the next five years, there is "no way" the goal is achievable ...

Ex-RBA Governor joins Macquarie

JAMIE WILLIAMSON  |  FRIDAY, 27 OCT 2017
Macquarie Group and Macquarie Bank will welcome a former Governor of the Reserve Bank of Australia to its boards next month. Glenn Stevens, who served as Governor between 2006 and 2016, will join both boards on November 1 as an independent director. ...

AFA praises FASEA's 'sensible' first priority

JAMIE WILLIAMSON  |  FRIDAY, 27 OCT 2017
... direction for employers, education providers and aspiring students of financial advice is a positive beginning as ensuring the next generation is ready to meet consumer needs is key to setting the Professional Standards legislation in motion. "This is ...