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Financial Services Industry

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Five charts show predicaments facing financial advice

The number of financial advisers in Australia has almost halved at a time of greater need than ever. What has happened to the industry and its clients as yet another Quality of Advice Review takes place?

Trust and why not all LICs are created equally

A recent global survey revealed a lack of trust in investment firms. There are many areas for improvement such as disclosure, transparency, and conflicts of interest, and different LIC structures are examples.

Culture shock: 'Naked Among Cannibals' revisited

The cultural shortcomings of banking are being obscured by the more prominent scandals in wealth management. Without a legal fiduciary obligation to customers, are banks fulfilling the social role expected of them?

‘Outcome engines’ should be the heart of your business

There is opportunity within the financial services industry for super funds and wealth managers to develop quality outcome engines to gain market advantage and service clients more effectively. But it’ll take time and money.

Bowen and Bradbury take over from Shorten in Financial Services.

* On the day FOFA comes into effect, responsibility has passed to David Bradbury, who is now Assistant Treasurer and Minister Assisting for Financial Services and Superannuation. He will be assisting the new Treasurer, Chris Bowen.

Accounting may finally be sexy

Accountancy practices have been a poor second cousin to financial planning businesses in terms of sale price and merger and acquisition activity. Here’s why that might change soon.

Nixon’s Mum

Most people see the financial services industry as untrustworthy, but trust could be re-kindled if we practised two easily-stated pragmatic principles. Ethical behaviour is more likely to enhance success, and it isn't too onerous.

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Why spending more in early retirement can improve lifetime income

Conventional wisdom encourages retirees to preserve superannuation. But if those likely to qualify for the Age Pension later in life spend a little more today, it may deliver higher lifetime income and a more stable retirement.

Will you run out of money in retirement?

Fear of running out has become a defining retirement anxiety. Why do some retirees die with substantial wealth while others deplete their nest egg? Evidence suggests the answer is more complicated than we think. 

The investment that sidesteps the new tax traps

Tax rules have changed, but many investors are still using yesterday’s strategies. Insurance bonds may offer advantages for those seeking greater control, tax efficiency and certainty about their wealth.

Testamentary trusts have secured the CGT exemption

Treasury’s latest CGT reform draft delivers a win for testamentary trusts and deceased estates, exempting estate-derived gains from the 30% floor. However, questions on death and divorce rollovers remain unresolved.

Meg on SMSFs: What do we think about reversionary pensions these days?

Reversionary pensions have long been a staple of SMSF estate planning, but are they still the best option? Meg Heffron revisits a once-clear favourite and asks whether changing super rules have shifted the balance.

How does the 4% rule stack up?

The 4% rule has long been retirement's gold standard. But after a difficult period for investors, fresh analysis suggests a more conservative approach may significantly improve the chances of making savings last.

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