Even with 20 years experience in the industry, building a financial planning business from scratch has been an eye-opener for Sandra Wills. Wills tells I&T News how she has overcome the initial challenges of running her own practice and has positioned it carefully for the “inevitable” growth to come.
Drop the crystal ball, stay diversified
The average diversified balanced portfolio returned 14.6 per cent after taxes and fees last calendar year and, while this was below the return from Australian shares, it shows the importance of diversification. Now is not the time to switch to last year’s best performing asset class, according to Shane Oliver.
Mercer issues global warming warning
Mercer Investment Consulting has taken the unusual step of warning super fund trustees of the financial and other risks associated with global warming and suggested funds managers needed “a gentle nudge” to think through the link between climate change and financial risk.
Orc Software takeover of FIX provider sends message to IRESS
Cameron Systems, the provider of FIX (financial information exchange) messaging platforms in Australia and elsewhere, has been acquired by Stockholm-based listed trading systems company Orc Software for $US32 million.
Big three managers predict good times to roll on
The three largest funds managers – Colonial First State, MLC and AMP Capital Investors – have issued generally positive reports about the outlook for markets this calendar year, with Colonial and AMP the most bullish on Australian shares.
SimCorp gets the nod for Macquarie backoffice
Macquarie Funds Management has chosen SimCorp Dimension as its investment accounting platform.
Future Fund to follow US endowments’ investment philosophies
David Murray, the Future Fund chairman, believes US university endowments are the “standout” investment funds in the world. He said, in his first interview on how the Fund would operate, that endowments provided “the best example of what we have to try to achieve”.
South Africa 1, Sweden 0: Old Mutual scores in Skandia shoot-out
Skandia looks set to lose its bitter takeover battle against South African insurance and investment firm Old Mutual this week as the third acceptance deadline looms. Old Mutual extended the deadline for Skandia shareholders to accept its $US5.6 billion offer to January 12 after securing almost 65 per cent of the company by its earlier cut-off date of December 16.
IFSA to upgrade conflicts policies
The Investment and Financial Services Association (IFSA) should have new conflicts of interest guidelines in place “within a few months”, according to the organisation’s chief executive, Richard Gilbert.
Perennial outbids CFS for property team
Perennial has poached the entire Colonial First State (CFS) property securities team, headed by Stephen Hayes, to launch a “specialist property boutique” fund.
Aon to shed underwriting agencies
Aon has unloaded four of its insurance underwriting businesses to Australian private equity manager, Ironbridge Capital.
Top executives exit Fidelity after restructure
Fidelity Investments has lost two senior staff members with the departure of Charles Wall, Australian investment director, and the group’s director of sales and marketing, Jenny Josling, following a restructure late last year.
