During the past months, I’ve had many conversations – verbal and email – with readers. So, we want to hear from you as often as possible as to what you want/don’t want in the magazine.
One reader has suggested we should have a group of around 30 advisers and five industry groups to give good feedback on what is of interest, and what could be improved or removed.
This reader has suggested we develop a simple target profile. It may be sexist, but it is probably a slightly older male, this reader has guessed.
Articles would then be ‘test-read’ and be of interest to at least two groups before printed.
Other comments that I’d welcome are advisers’ feedback on ASIC compliance activities.
What are the disclosure differences between solicitors, accountants, doctors and planners? All are professionals, but are some more equal than others?
The Storm debacle has exercised many readers. Did Storm do statements of advice (SOA), they ask? Did these SOAs protect clients?
In relation to ASIC’s shadow shopping exercise, questions have been asked as to whether ASIC auditors are trained in financial planning or in law. If so, do they recognise a dodgy plan?
Client risk profiles are also an area that can be dodgy. What method did ASIC use to review the SOAs in Storm? What method does the Financial Ombudsman Service use? Why is there not an industry standard? We need reader feedback on this.
And what of Treasury’s 2010 intergenerational report? Treasurer Wayne Swan said that if “the projected fiscal gap associated with ageing pressures were to be realised, net debt would emerge in the 2040s and grow to around 20 per cent of GDP by 2049-50, and the budget would be in a deficit position of 3.75 per cent of GDP by 2049-50”.
Retirement homes and the daily care costs have drawn a huge dialogue. The array of fees would baffle most people.
As one reader asked: does the government really expect a pensioner to be able to understand this? If you can’t understand it in 30 minutes, assume that an 80-year-old pensioner will never be able to.
So, give us your ideas and your questions yearning to be answered. This is your magazinee. Contact me on philippa.yelland@morningstar.com.
Janus Henderson to go private following US$7.4bn acquisition
Global asset manager Janus Henderson has been acquired by Trian Fund Management and General Catalyst in a US$7.4 billion deal....
