Regulation is not always the answerBY CHRISTOPHER PAGE | WEDNESDAY, 27 MAR 2013 3:40PM Last month ABC's 4 Corners ran a story exposing managed investment schemes and it reminded us yet again how complex is the question of how much regulation is enough to protect ... Upgrade your subscription to access this article
Join the growing community of financial advisers
with unlimited access to our latest news, research and analysis of the industry.
Become a premium subscriber today. |
Latest News
NCAs unlikely to solve retirement advice gap: HUB24, CFS
HUB24 and Colonial First State (CFS) say the New Class of Advisers (NCA) will unlikely solve the retirement advice gap Australians face, noting the focus needs to be on helping reduce friction for those with complex advice needs.
Advised cover faces claims data test
Group superannuation insurance appears to outperform individual advised cover on some claim's measures, raising questions about the value of advice when it comes to protecting clients against disability.
ASIC stalls Sequoia bid to ditch cross guarantee deed
ASIC is again putting up roadblocks to Sequoia Financial Group's attempt to revoke the deed of cross guarantee with InterPrac Financial Planning, asking more questions and requesting more information before the group rids itself of all liabilities arising from the Shield and First Guardian disaster.
Praemium's new leadership toughens earnings yardstick
Praemium's new leadership will be keeping a close eye on costs, with new chief executive Denis Orrock noting he will make sure the technology upgrade underway translates into stronger earnings and better returns for shareholders.
Further Reading
Cover Story
Advice with soul
SACHA BURCHGART
FOUNDER & MANAGING DIRECTOR
BURCHEART PTY LTD
FOUNDER & MANAGING DIRECTOR
BURCHEART PTY LTD
Though she initially tried, Sacha Burchgart couldn't escape the call of a career in financial advice; it just took staring down her own mortality to see what's possible when you do things differently. Jamie Williamson writes.
Expert Feed
How technology is turning tax complexity into client clarity
What used to be a relatively simple back-of-the-envelope calculation is now much more challenging, Morningstar says.
Why Australia's financial advisers will be more valuable in 10 years, not less
Despite a rise of innovative solutions across the wealth management sector, financial advisers will prove valuable for in-person advice.
What America's $1 trillion direct indexing boom tells us about the evolution of MAs
What Australia can learn from direct indexing, a tax-efficient form of managed accounts utilised in the US.
Stonepoint is another lesson in fund governance and investor protection
The demise of the Stonepoint Capital Fund may have gone under the radar for many, but proves an important point for independent governance when examined.
Agreed, I saw the story and felt the actions of the directors, if factually represented, amounted to legalised fraud. What was not discussed in the 4 corners program was how the investors broke the number one rule of investing from grandma, "Don't put all your eggs in one basket". Whether these examples akin Australian Capital Reserve or other high profile failures, the ones burnt displayed no common sense and invested heavily in just one asset. The banks aren't safe either...not in Cyprus anyway!
I totally agree with your article and I like the car accidents analogy but rather than use the term investment accidents let's call them investment failures as many are not accidents at all but deliberate acts of fraud.