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Financial Planning

Practitioners ill equipped for business sale

MARK SMITH  |  WEDNESDAY, 24 APR 2013
Market uncertainty and regulatory strain are leading to an increasing number of financial planners considering selling their practices, according to Centurion Market Makers director Chris Wrightson.

UK to tax platform rebates as income

ALEX DUNNIN  |  TUESDAY, 23 APR 2013
In a shock decision, the UK taxation authority has issued a ruling that declares some platform rebates to be de facto income on which investors will have to pay tax.

Former SMSF adviser sentenced

LAURA MILLAN  |  TUESDAY, 23 APR 2013
A former self-managed superannuation fund (SMSF) adviser was sentenced after pleading guilty to one count of lodging a false statement with the Australian Securities and Investments Commission (ASIC).

CommSec appoints head of adviser services

ALICE URIBE  |  TUESDAY, 23 APR 2013
Online broker CommSec has appointed former Investment Trends chief operating officer Eric Blewitt to lead CommSec Adviser Services.

Commonwealth Financial Planning restructures adviser remuneration

LAURA MILLAN  |  THURSDAY, 18 APR 2013
Commonwealth Financial Planning (CFP) has announced the restructure of its adviser remuneration packages.

Challenger FUM grows 7% in March quarter

LAURA MILLAN  |  THURSDAY, 18 APR 2013
Another bumper quarter for Challenger with today's results showing Funds Under Management (FUM) reached $40.9 billion at the end of March 2013, an increase of 30% for the year and up 7% for the quarter.

Advice practice profitability drops by 50%: survey

LAURA MILLAN  |  THURSDAY, 18 APR 2013
Profitability of advice practices has fallen from 28.5% in 2010 to 14.8% in 2012, according to a HealthCheck report.

CFS creates wrap platform for Infocus

ALICE URIBE  |  THURSDAY, 18 APR 2013
Colonial First State (CFS) has created a full-service wrap platform to assist advisers in meeting the regulatory requirements of the incoming Freedom of Financial Advice (FoFA) regime.

Kenyon Prendeville case could be referred to ASIC

LAURA MILLAN  |  WEDNESDAY, 17 APR 2013
Pitcher Partners, the liquidators appointed to wind up financial business brokering firm Kenyon Prendeville, are considering reporting breaches to the Australian Securities and Investments Commission (ASIC) after one of the partners, Alan Kenyon, failed ...

Radar Results creditors meeting to go ahead

ALICE URIBE  |  MONDAY, 15 APR 2013
The first meeting of Radar Results Pty Ltd. creditors will take place tomorrow, less than two weeks the financial planning consultancy was placed into liquidation.