Top news for 2013

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The Wealth Professional team thank all our readers and advertisers for your support in 2013 and wish you all the best for the holiday season.

It’s been a huge year for Wealth Professional, all thanks to you. We’ll be taking a well-earned break over the next two weeks, but we’ll be back on 6 January to ensure you don’t miss out on any of the latest industry news.

As a treat, we’ve wrapped up the five most-read Wealth Professional articles for 2013. Enjoy!

5.         The fifth most read article this year was ‘‘Tombstoning’ case has massive ramifications’, published 4 July. An ASIC investigation found Pavan Vyas submitted 12 applications for life insurance policies in the names of people that did not exist, and also submitted three further applications in the names of friends without their knowledge.

4.         The article ‘Sydney business has its AFS licence suspended’, published 9 January, was a hit with Wealth Professional readers. Cabot Square Financial Planning had its licence suspended until 4 December after it failed to lodge annual profit and loss statements and audit reports with ASIC.

3.         ‘Financial planning’s biggest threat’, published 19 July, was the third most read article this year.  Previously, the industry was unaware of grandfathering provisions set out in FOFA legislation which put a halt to recruitment.

2.         In second place was ‘Government announces tax changes’, published 5 April. Former treasurer Wayne Swan announced those with around $2 million in superannuation will lose tax concessions under the new changes. 

1.         Taking out the top slot as the most-read Wealth Professional article of 2013 was ‘Financial planning business has its AFSL cancelled’, published 31 January. ASIC cancelled AAA Shares licence following a surveillance of the business.
Happy Christmas,
from the Wealth Professional team.