Hello, I’m from ASIC and I’d like you to justify the advice fees you charge? Are you ready for this question? Reminds me of the gag about the tourist in Ireland who asks a local for directions to Dublin. The Irishman replies: “Well sir, if I were you, I wouldn’t start...
My family is full of creative types. All the kids and wife are active artists, except me. Actresses, writers, drawers, and designers. All super talented – of course. But I was a tad surprised when some of their drawings and works were recently bought for use on...
Have you heard of FASEA? It’s the relatively new Financial Standards and Ethics Authority, established in April 2017, well before last year’s Banking Royal Commission, to set the education, training and ethical standards of licensed financial planners. It’s creating...
The future of AMP? I reckon they’ve only one option. But first, a reminder of those days pre the 2000 Sydney Olympic Games. I first heard the term ‘puzzle-palace’ in the reception of AMP Alfred Street’s Sydney foyer – it was just pre-Games. The helpful guy manning...
I hope Commissioner Hayne’s recommendations are going to help us all understand that the vast majority of today’s financial advice is not financial advice. Initial messages from his Royal Commission suggests he is focussed on how we’ve ended up with...