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ASIC Report Shows Pitfalls of Direct Life Insurance
Read more: ASIC Report Shows Pitfalls of Direct Life InsurancePart of being a financial advisory business involves jobs clients want to delegate or don’t want to do. Modelling financial outcomes, monitoring government legislation, compiling decades of data to formulate an investment philosophy – most recently it was reviewing ASIC’s 120-page report into Australia’s life insurance industry. It’ sounds a snooze, but it’s not when it underlines the importance of seeking advice when buying an insurance policy or making a claim – which is what ASIC’s report did. For the sake of the report “life insurance” amounted to life cover, TPD cover, trauma cover and income protection insurance and it…
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Why keeping good records is so important
Read more: Why keeping good records is so importantWhat if you inherited or would like to leave your beneficiaries shares when you pass away, do you have good record keeping? What if some shares have a long dividend reinvestment plan, takeovers, bonus offer and share purchase plan and there was no record keeping. Investors who don’t pay attention to keeping good records pay a price in the future Record keeping is simply collecting and storing paperwork and information relating to your shares. IT DOESN’T NEED TO BE COMPLICATED. Why keeping good records is important: Manage tax effectively and declare the correct income and capital gains Prepare Estate Planning documents Monitor…
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Sailing with the Tides
Read more: Sailing with the TidesEmbarking on a financial plan is like sailing around the world. The voyage won’t always go to plan and there’ll be rough seas, but those who are prepared, flexible, patient and well-advised greatly increase the odds of reaching their destinations. A mistake many inexperienced sailors make is not having a plan at all. They embark without a clear sense of their destination. And once they do decide, they often find themselves lost at sea in the wrong boat with inadequate provisions. Likewise, in planning an investment journey, you need to decide on your goal. A first step might be to…
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2016 September Quarter Review
Read more: 2016 September Quarter ReviewEconomic Overview It was mostly a positive quarter for markets, with volatility across equities and fixed income being much lower compared to recent quarters. In the US, the Federal Reserve left interest rates unchanged, but provided a more optimistic assessment of economic conditions at its July meeting, deeming that the risks in the near term had diminished. In Europe, economic data continued to indicate lacklustre growth and low inflation. Annual inflation ticked up in September to 0.4% from 0.2% in August while GDP expanded by 0.3% in Q2, slowing from 0.6% in Q1. In the UK, equities moved higher as…
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Pondering Presidential market impacts
Read more: Pondering Presidential market impactsStock markets are pretty efficient at processing new information. Shocks, naturally, are unwelcome and it can take some time for markets to rationally analyse and understand the impacts of particular geopolitical events. Take the Brexit vote for example. On the day the vote was announced (June 24) the Australian sharemarket fell 3 per cent while the broader global sharemarket index was down even further. Three weeks later the Australian market was up 3 per cent and while the global market index did not recover as strongly it was at least back into positive territory. The initial surprise of the vote…
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