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Financial Planning

BT: product strength will defend market share

ALISON BEVEGE  |  WEDNESDAY, 31 AUG 2011
BT, a major platform provider for Count Financial, today said it is confident its product business will stand on its merits and will not be harmed even though a key rival is buying its major client.

Fiducian plans further client portfolio buys

MATT WOODINGTON  |  WEDNESDAY, 31 AUG 2011
Fiducian Portfolio Services hopes to add to the $1 million it spent on acquiring client portfolios in the last year, after announcing a 7.8% rise in after tax profit for the financial year ended June 30 2011.

Snowball reports 3pc rise in profits following Shadforth merger

ALISON BEVEGE  |  WEDNESDAY, 31 AUG 2011
Financial advisory group Snowball has reported a 3% rise in profit to $26.9 million in its first combined results announcement following the completion of its merger with Shadforth.

CBA in takeover bid for Count Financial

ALISON BEVEGE  |  TUESDAY, 30 AUG 2011
The Commonwealth Bank has announced a $373 million takeover bid for financial planning group Count Financial, which went into a surprise trading halt this morning before the news.

Rice Warner: opt-in cost applies to advisers in regular contact

MATT WOODINGTON  |  TUESDAY, 30 AUG 2011
The $11 per client cost of opt-in is based on the assumption that advisers are already in contact with clients at least once every two years, according to Rice Warner who made the calculation.

FOFA: Opt-in obligations, ASIC

ELISE BURGESS  |  MONDAY, 29 AUG 2011
The much anticipated proposed regulations for the financial advice industry have been announced with opt-in, the banning of commissions, new powers for ASIC and a consultation paper on the term 'financial planner' outlined in the first tranche of draft ...

Count Financial profit surges on windfall float

ALISON BEVEGE  |  MONDAY, 29 AUG 2011
Financial planning group Count Financial reported a profit surge of $51.56 million, a 113% increase on the previous corresponding period, in its annual results today.

Industry body applauds move to define financial planners

MATT WOODINGTON  |  MONDAY, 29 AUG 2011
The government will release a public consultation paper on defining the term 'financial planner' by law, obliging advisers to prove their credentials before offering services to clients.

FOFA divides on commission

ELISE BURGESS  |  MONDAY, 29 AUG 2011
The Government's stance on the banning of commissions has proven to be a contentious issue, attracting quick responses from industry heavyweights after today's release of draft legislation of the Future of Financial Advice reforms.

FOFA: Government extends soft-dollar benefit ban to non-super risk insurance

ALISON BEVEGE  |  MONDAY, 29 AUG 2011
The Federal Government has extended its ban on soft-dollar benefits under the Future of Financial Advice draft legislation announced today.