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
Count shutters limited-advice business, slips in size ranking
|Count Financial has reportedly wound up its restricted SMSF/limited-advice service, losing some 26 advisers on the Financial Adviser Register, latest data shows.
Centrepoint Alliance acquires two advice firms
Centrepoint Alliance will acquire Queensland financial advice practices Cairns Wealth and Pinnacle Wealth for $3 million from Astute Financial Management.
Small pocket of failed measures can 'blow the entire business': Anderson
FAAA general manager of policy, advocacy and standards Phil Anderson warned licensees to improve their control measures for authorised representatives to avoid any unintended consequences.
AFCA puts InterPrac determinations on ice
The Australian Financial Complaints Authority (AFCA) is pausing all InterPrac Financial Planning-related determinations as court proceedings instigated by the latter are underway.
Further Reading
Cover Story
Advice with soul
SACHA BURCHGART
FOUNDER AND FINANCIAL PLANNING SPECIALIST
BURCHEART
FOUNDER AND FINANCIAL PLANNING SPECIALIST
BURCHEART
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
Fixing the CSLR: the UK FSCS offers lessons - but not a blueprint
UK's equivalent scheme of the CSLR highlights the lack of stability and predictability it currently has, expert says.
Helping clients stay the course in volatile markets
Fidelity International's recent research shows many investors are maintaining a "long-term" perspective despite recent market turmoil.
Let's be honest: is it a tech stack... or just a stack of tech?
Financial advisers need to be aware that sophisticated technology does not always serve as a practical, effective tool.
At the crossroad of governance: the two choices for Australian fund managers
Internalising trustees, although lawful, weakens independent oversight and can expose a fund manager to greater risks than those outsourcing the capability ...
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.