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Financial Planning

FPA opposes creation of product sellers

The Financial Planning Association (FPA) is opposing the Federal Government's proposal to create a distinction between product sellers and financial planners, claiming consumers will have less protection.

US losing grip on depositary receipts: JPMorgan

HAMISH MADDEN  |  TUESDAY, 30 JAN 2007
JPMorgan is predicting a record year of activity for depositary receipts, however activity will migrate away from the US towards the BRIC (Brazil, Russia, India and China) countries in particular.

Community CPS credit union launches Eastwoods FP

ALEX DUNNIN  |  TUESDAY, 30 JAN 2007
Recently merged and expanded credit union Community CPS has launched its in-house financial planning service, Eastwoods, already operating with $300 million in funds under advice (FUA).

Mortgage funds shouldn't sit on cash: AUI

Mortgage fund managers who hold a large chunk of their portfolio in cash will struggle to meet their performance targets and therefore can't justify their fees, according to Australian Unity Investments.

Macq's the new kid on the SMA block

The private portfolio arm of Macquarie will begin offering separately managed accounts (SMAs) from April this year, joining the growing crowd of SMA providers hitting the market since BlackRock (formerly Merrill Lynch) launched its version a year ago.

ASIC pleased with insurance industry

The Australian Securities and Investment Commission (ASIC) has released a report examining the improvements home building insurers have made to their policies and whether they are providing customers with better access to information about the costs ...

Hedge fund crosses the Rubicon

Sick of hearing critics complain about management fees charged by hedge funds, local hedge fund of funds (FOF) provider Rubicon Asset Management has launched a hedge fund platform with no management fees attached.

Macq property gears up for SMSFs

Macquarie Direct Property (MDP) is primed to capture the growing self-managed super fund (SMSF) market after boosting its senior team with three appointments in the past six months and tailoring its range of products to suit SMSFs.

Tricom gains approved rating

Tricom Income Fund, managed by boutique investment specialist Tricom Investment Management Limited (TIML), has notched an 'approved' rating from Aegis Research.

Mortgage funds not justifying fees: Aviva

NICK OLIVER  |  THURSDAY, 25 JAN 2007
Aviva has questioned the level of fees being charged in the mortgage funds sector, claiming performances and large cash holdings do not justify the costs.