Tags » Financial Planners

24 Sept 2014 (AFR) - Regulate planners say banks - FSC admits self-regulation ‘not enough’

(24 Sept 2014, AFR, p1, Sally Patten and Jennifer Hewett)

‘Banks have taken the unprecedented step of asking the government for greater regulation of the financial sales industry in an admission that self-regulation has led to inadequate standards and a collapse in community trust.’ 38 more words

1.Market Observations

30 Aug 2014 (AFR) - General advice should be ‘sales’: CBA

(30 August 2014, AFR, p3, (Murray inquiry), Clancy Yeates)

‘The Commonwealth Bank has conceded that what today qualifies as “general” financial advice should be renamed “sales”, a change it says would help clear up customer confusion. 89 more words

1.Market Observations

26 Aug 2014 (AFR) - Scramble for yield - Hybrid yields tipped to fall further

(26 August 2014, AFR, p44, Jonathan Shapiro)

‘The lament of a small group of financial planners that gathered in a room in the Grand Hyatt Melbourne last month to learn about fixed income was unanimous. 119 more words

1.Market Observations

25 Aug 2014 (AFR) - Macquarie dodgy advice scandal forces rethink of banking model

(25 August 2014, AFR, p19, Sally Patten)

‘The community is so angered by the endless string of advice scandals.’

‘Financial advice. Where to start? After an extraordinary few weeks, during which it was revealed that Macquarie Group was writing letters to thousands of customers who may have received dodgy advice, the corporate regulator slapped Commonwealth Bank of Australia with new licence conditions and the chairman of the Financial System Inquiry raised concerns about the structure of the planning industry, it is hard to know where to begin a critique.’ 10 more words

1.Market Observations