Financial Planning Blog

At a broad industry level, FoFA has provided the impetus required to kick-off a cultural shift toward a greater level of professionalism. One of the most significant challenges we face is changing the traditional values of a sales culture which has seen clients charged trail commissions, in some cases without any ongoing service element. With the cost of living at front of mind for most consumers, it's an interesting challenge our industry faces to alter public perception.

Japan is a land of mountains and lakes, of great cities and skyscrapers. It's also a land that has experienced much volatility throughout the years. So far this calendar year the Nikkei is up over 30 per cent, however many investors are concerned this may be another false start for the Japanese economy.

Many companies who started from humble beginnings are now reaping rewards. In fact, it is through investments in smaller companies where some great opportunities may arise. Smaller companies may come with larger risks. We are all aware that they are prone to more volatility. It is these risks however, that have offered investors impressive rewards. To capitalise on this specialist expertise should be sought. Over the last twenty years, the ASX Small Ordinaries has been outperformed by the S&P/ASX100.

It is a requirement that a SMSF and any assets it considers purchasing must meet the Sole Purpose Test.

Sole purpose test

Australia's superannuation system is really the wizard of Oz, according to an American personal finance commentary.

Experienced investors in direct property will hardly be surprised that the tax office will keep a close watch on their tax returns for 2012-13.

The tax dollars at stake are huge.

Football teams have an advantage over trustees of self-managed super funds (SMSFs). When the siren sounds at the end of a game they know if they have won or lost; whether they have been competitive or thrashed.

That is particularly valuable information for football clubs and supporters alike.

There are numerous reasons why the retirement savings of so many Australians are inadequate. One is the sheer cost of bringing up children.

It costs a breathtaking $812,000 to bring-up two children in a middle-income family, estimates a new report by the National Centre for Social and Economic Modelling (NATSEM) at the University of Canberra. The costs have risen is from $537,000 five years earlier.

One of the greatest destroyers of personal wealth is the breakdown of marriages and de facto relationships.

The rich are getting a lot richer, according to a report just released by The Boston Consulting Group.