By understanding superannuation law and implementing the right structure, SMSF members can ensure their super is passed onto their heirs after death with a minimum of fuss.
Many people are reluctant to plan financially for their death, and it’s not simply a matter of passing money to heirs. Far more tax-effective techniques are available which can make inheritance simpler.
Mental Health Commissioner, Lucy Brogden calls on financial industry professionals to better address their clients’ needs for advice that supports both financial and mental health.
In the week that marks 30 years since Chris Cuffe joined what became Colonial First State, a former colleague reflects on what makes a business successful, and what may have been lost from those early days.
Cuffelinks has published 15 articles related to Labor’s proposed franking policy. In this compendium, each article is summarised and linked to, plus a ‘sample letter’ to his local member from an aggrieved retiree.
Increasing longevity poses many challenges, including staying financially secure over a long retirement period. Retirees and governments must stay on top of healthcare costs.
Preferences revealed by actual investing behaviour are often different to preferences stated in surveys. Financial planners and super funds should use newer analyses that helps understand the discrepancies.
Several factors contribute to the growth in managed accounts, which are like ‘implemented advice’ for investors. Despite the fallout from the Royal Commission, these factors are largely unaffected so growth should continue.
More advisers want control over their businesses for the benefit of themselves and their clients rather than operating under institutional guidelines, and software providers are facilitating the change.
Carers may have a legitimate claim to an estate even if the deceased suffered from dementia when making a subsequent will. The Court seeks to establish whether testamentary capacity was disabled.
There’s a fundamental difference between banking and wealth management: bankers have no fiduciary obligation to their clients. It’s difficult for bankers to own fund managers and financial advice and fully accept the difference.
Retirees should discuss goals and plans with their adult children, including wills, finances, consequences of incapacitation and current plans. Includes a suggested ‘Goals and Plans’ document to kick off the conversation.
Going through ASIC’s pronouncements and corporate plans can help gauge whether a business is at risk. Big and small AFS licensees such as non-bank planners, accountants, and life advisers will be increasingly scrutinised soon.
In traditional economics, utility theory assumed that investors work off probability-weighted outcomes. Prospect theory can better explain actual investor behaviour and is a better tool for designing retirement plans.
‘Suitability’ of financial advice is something unlikely to be addressed by the Royal Commission, but its adoption and regulation is crucial to the improvement of the wealth management industry.
Bernard Salt’s smashed avocados are now part of our lexicon, even if the way we are using it was not his original meaning. Whatever, lots of expenses such as concert tickets add up significantly with compounding over time.