Adviser remuneration was a clear thematic this year, with the top two stories focusing on salary levels. Practice management and regulation, once again, played prominent roles in the news cycle, as did the profile of one very interesting young adviser.
There is a world of complexity behind the construction of a highly concentrated portfolio of stocks that consistently outperforms the benchmark. According to Bob Desmond it requires patience and a willingness to operate in “a very select universe”.
The proprietary technology provider will use a capital injection from an existing investor to take advantage of regulatory tailwinds set to push the wealth management industry forward. Staying profitable in the interim will be key.
Cowell Clarke lawyer Richard Hopkin said there are reasonable grounds for licensees to certify clients as wholesale, but the practice invites a much higher degree of risk than the traditional route of gaining an accountants’ certificate.Â
The problems afflicting Australia’s life insurance advice industry run deep, with pundits estimating there are now less than 1,000 pure risk advisers left in the country. That consumers are turning to other sources of information should come as no surprise.
Faced with the option of stunting ‘financial stability or growth stability’, the US will only go one way. So investors need to protect against more volatility and inflationary pressure, Alex Lennard warns. But at least it won’t be boring.
The government will now follow through on Levy’s proposal to bring licensed financial institutions back into the advice fold, while also agreeing to “modernise” the Safe Harbour Steps and swap SOAs with “advice records”.
A recalibration of dislocated markets is inevitable, according to Atrium’s Glen Foster, and the landing may not be a soft one. This presents an opportunity for investment teams that are prepared for a range of outcomes.
The five holdings were only for about two weeks each, and then divested as soon as Morningstar became aware of them. But ASIC takes a seriously dim view of ESG claims that don’t match reality these days.
It’s not a corner office or a fatter pay packet at the top of paraplanners’ collective wish list, but something that is much more beneficial to financial advice practices and the clients they serve.
