WP TV

WP TV brings you closer to the industry's most influential leaders and thinkers. Click on the videos below to watch the interviews:

Showing 10 - 18 of 38

AQUA II dividing opinion

The Australian Securities Exchange's new AQUA II platform has received a mixed reception from financial institutions. On this week's Wealth Professional TV we speak to Matt Lawler of Yellow Brick Road and Connie McKeage of OneVue for their opinions.

Video transcript below:

Anna Temple: The Australian Securities Exchange’s new AQUA II platform has received a mixed reception from financial institutions. Connie McKeage of One Vue argues that institutions who don’t support the platform clearly don’t have the interest of the wider investment community in mind.

Connie McKeage, OneVue

Connie McKeage: And they are trying to hang on to their revenue. I understand it, it’s the best thing for them to do in the short term as an institution, but it’s absolutely wrong for the industry and for the customer. We don’t have that vested interest. We made a decision a long time ago that we would embrace change if it was in the best interest of the organisation and the sector longer term and in our view, there is no doubt that is the case, because it’s the beginning of the unbundling of the value proposition of the platforms in the same way that the advisors and the rest of the sector had to justify their value proposition.

Anna Temple: Matt Lawler of Yellow Brick Road thinks AQUA II is a revolutionary move and will aid advisors to be more competitive.

Matt Lawler, Yellow Brick Road

Matt Lawler: Yeah, it’s one of the great innovations that we have seen out of the industry for some time. I think if an industry doesn’t have a lot of innovation and we are seeing a lot of consolidation in the marketplace, so it’s good to see some innovation that drives competition, it drives alternatives for consumers, it gives advisors alternatives as well. I think overall the pricing for [Master Trust] and RAP accounts which are still sitting at above 2% when you include advice and at the extreme level you are seeing some cost to clients of over 3%, which is in a low return environment, it’s just going to be too high. So we see anything that actually brings that price down to below 2% probably more to around 1 ½% when you include advice is going to be really critical for us to continue to be competitive and continue to be a good choice for clients to come and see.

Anna Temple: McKeage argues that the benefits of AQUA II could be even more far reaching.

Connie McKeage: If we get more people investing, through a better operating model, the same way that the online brokers came into the market, you know in the early 2000s, late 1999s, they changed the behaviours that more people got involved in looking after their money and how can that be bad when more Australians start taking a real interest in their money, because it starts becoming more affordable to invest, there’s more transparency in the market and then all that leaves is reporting and you can’t justify a lot of the existing models and the amount that they are charging for what’s left, which is reporting and we are the strong advocates of unbundling reporting as a separate thing.

Anna Temple: This is Anna Temple reporting for Wealth Professional Online.

  • Stay educated, stay ahead. Stay educated, stay ahead. (views 5694)

    On a busy adviser's list of priorities professional education can often fall to the bottom, however, Brian Knight of Kaplan Professional Education insists that advisers need to keep addressing gaps in their knowledge.

  • Specialisation, education and technology key to year ahead Specialisation, education and technology key to year ahead (views 5054)

    As the end of the financial year fast approaches, advisers must look ahead to what changes and improvements can be made in the coming year. On this weeks' Wealth Professional TV we catch up with Ben Kingsley of Empower Wealth and Graeme Colley of SPAA for their insights into things to come.

  • Growing need to attract more female advisers Growing need to attract more female advisers (views 6580)

    Discussion around the gender imbalance in financial services is a mainstay on the agenda. However, with a growing number of women in the space, many believe the industry should be doing more to attract female advisers.

  • Convergence of financial service roles to be seen as an opportunity Convergence of financial service roles to be seen as an opportunity (views 6026)

    Financial services in 2013 is seeing the broking and planning professions increasingly converge. This week Wealth Professional caught up with Mark Woolnough of ING Direct for his insights into how this convergence can produce opportunities for planners.

  • Budget 2013-14: What advisers need to know Budget 2013-14: What advisers need to know (views 7104)

    The 2013-14 Budget was announced by Treasurer Wayne Swan on Tuesday night, and as the dust settles for another year, there are mixed feelings on just how financial services will be affected.

  • ASIC warns advisers to be vigilant in SMSF advice ASIC warns advisers to be vigilant in SMSF advice (views 8297)

    A report released by ASIC in April reaffirmed the regulator’s commitment to ensuring advisers offer quality SMSF advice to investors. Graeme Colley from the SMSF Professionals Association of Australia agrees that advisers must be diligent in the quality of advice when advising clients to establish their own fund.

  • The difference between average and high performance The difference between average and high performance (views 7007)

    The launch of the Association of Financial advisors white paper looking at the consumer-advice relationship offers rare insights into where exactly financial planners need to target improvements to service. Brad Fox of the AFA talks to Wealth Professional about the key differences between average and high performance.

  • How your vote will affect your business How your vote will affect your business (views 7029)

    As the Federal Election looms, many financial planners are considering how their vote will impact their business. We speak to Shadow Minister for Financial Services and Superannuation Mathias Cormann about what the Coalition's policies will mean for financial advisers.

  • How to cut the fee disclosure red tape How to cut the fee disclosure red tape (views 7462)

    Financial planners will soon have to provide fee disclosure statements to their clients. Claire Wivell Plater of The Fold says it doesn't have to be an administrative headache.