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Budget reforms exacerbate risks for Gen L: Asteron

KATE HAGE  |  TUESDAY, 13 JUN 2006
Financial planning group Asteron is commissioning a study on what it says is the biggest gap in the recent Budget - how Gen-L who are already in retirement will outlive their superannutaion savings. Asteron head of technical services sales and marketing ...

AFA's Adviser of the Year Award

The Association of Financial Advisers (AFA) has just launched its campaign for the fourth annual Adviser of the Year Award, and for the fourth time it will be sponsored by Zurich. The award is part of the AFA's commitment to recognising outstanding ...

Unisys backs up client services

Unisys Australia has appointed a new client director, Global Financial Services. Patrick Diessen has been appointed to the role of client director, Global Financial Services, and will be based in Sydney. He will be manage client relationships, consulting ...

Self-congratulatory advisers still ignoring lower end market

KATE HAGE  |  FRIDAY, 9 JUN 2006
Advisers were giving themselves a pat on the back yesterday over newly commissioned research that showed consumers were satisfied with their level of advice, but many consumers say they are still left wanting for broader advice at the lower end of the ...

CFS appoints REST chief

Colonial First State Global Asset Management has appointed outgoing Retail Employees Superannuation Trust (REST) chief executive Neil Cochrane as its new global head of business development and deputy chief executive officer. Cochrane joins the group ...

Consumers more than happy with advisers

HAMISH MADDEN  |  THURSDAY, 8 JUN 2006
Recent research has highlighted a divide between much reported negative perceptions of the industry and actual consumer experiences. ING engaged AC Nielsen to survey over 1,000 consumers and advisers around issues of perception of advice. The survey ...

Mercer breaks into retail MTM

Mercer Global Investment (MGI) announces its arrival into the retail multi-manager (MTM) market space this week after carving its reputation in institutional MTM 10 years ago. Head of MGI Australia and New Zealand, Gary Burke, said that the $78 billion ...

Daily economic update

BENJAMIN ONG  |  WEDNESDAY, 7 JUN 2006
The Reserve Bank of Australia (RBA) kept the official cash rate target steady at 5.75 per cent following yesterday's Board meeting. Financial markets widely expected the move this time, unlike the controversial 25 basis point hike announced last month. ...

Govt will not ban commissions: Pearce

KATE HAGE  |  WEDNESDAY, 7 JUN 2006
The Government will not step in and ban commission-based remuneration, said the Parliamentary Secretary to the Treasurer, Chris Pearce, who urged the advisory industry to sort it out among themselves. Speaking at an Investment and Financial Services ...

AMPFP scraps industry funds

HAMISH MADDEN  |  TUESDAY, 6 JUN 2006
AMP Financial Planning (AMPFP) has announced it is removing industry funds from its approved product list, citing a lack of client demand. AMPFP said that its planner network had received little demand from clients for industry funds and the costs involved ...