MM Newsletter
  19 November, 2021
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Money Management Original
Consumers unwilling to face reality of failing investments
There is an ambivalence among investors to accept they are members of a failing investment scheme with the corporate regulator likening members of the Sterling Income Trust to passengers on the Titanic.
Money Management Original
Adviser numbers continue to fall to 18,735
Adviser numbers continued to fall by 25 this week even though the large licensee owners dominated growth.
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A new era of demand: how batteries are creating investment opportunities
The not-so-humble battery sits at the heart of a global shift to net zero emissions. So, what are the investment opportunities that will power it?
Money Management Original
Consumers fail to understand when they are receiving personal advice
Consumers who invested with Sterling Income Group thought their “dreams were coming true” and did not understand they were not receiving personal advice from the provider, according to the Financial Planning Association of Australia.
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Money Management Original
AFCA examines possibilities for fairer funding model
The Australian Financial Complaints Authority is examining fees and funding ahead of the findings from an independent review and how it can treat smaller firms more fairly.
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How to play the reopening of Australia thematic
As Sydney and Melbourne comes out of lockdown, here are some reopening trades in the Australian credit market which investors should consider as part of their fixed income portfolios
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Money Management Original
APRA’s heatmap is unclear for consumers
Australian superannuation members are unlikely to view and understand the MySuper Heatmap because of its complexity and unclear presentation, according to Chant West’s general manager.
Money Management Original
Easton confirms exit of 100 limited advisers
Easton Investments has confirmed the expected departure of 100 limited advisers in its FY22 outlook due to the Financial Adviser Standards and Ethics Authority regime.
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Industry News
Sequoia expects 16% rise in wealth revenue in 2022
Sequoia, which has reported revenue from its wealth division of $62 million in FY21, has said it expects this to increase to $72 million in FY22.
Industry News
ASIC sues MLC for multiple insurance failures
The corporate regulator alleges MLC, in some instances, failed to pay life insurance benefits, notify on premium rises or refund premiums, amongst other breaches affecting over 260,000 customers.
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Industry News
Average advice practice generating $1.1m revenue
The average adviser is looking after 133 clients while the average practice produces $1.1 million in revenue, according to a survey from Iress.
Industry News
Former NSW financial adviser pleads guilty
Gordon-based former financial adviser, Ezzat-Daniel Nesseim, has pleaded guilty to five criminal offences which included dishonest conduct and using fabricated evidence.
Outsider
Money Management Original
A fight to the finish
Outsider noticed his head was spinning. Was it vertigo? Was it too much whiskey? No, it was to do with a battle of wills at play between PM Capital and WAM Capital for acquiring PM Capital Asian Opportunities fund.
Money Management Original
A wheely-good investment
Outsider is well aware of the adage that a monkey throwing darts can get better investment returns than the index. He is also aware of the octopus which correctly predicted the scores of the soccer World Cup.
Money Management Original
The final test
After 15 sittings across three years in locations all across the country, Outsider wishes the best for those advisers that have sat the last-ever FASEA exam this month.
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