This is an article by Stewart Bell, who is an Executive Consultant at Elixir Consulting. As experts in the field of practice development, Elixir Consulting will provide regular articles to assist our clients with issues that affect their businesses. From time to time, Praemium clients will be provided special offers and opportunities from Elixir Consulting.
You’d have your head buried in the sand not to notice frustration in our industry around the proposed Future of Financial Advice reforms. 2012 is staring us in the face, a giant number threatening to wash away the past. Some are unhappy about the detail, others about the lack of detail, most about the fact that what we know is set to change yet again.
But hasn't it always been this way? Isn’t the only guarantee about the status quo inevitable change?
I was talking to an adviser I greatly respect the other day, a highly-positive person who sees good in every situation. I asked him if the reforms worried him. “I'm going to have to deal with it sooner or later”, he answered, “Why not today? These kinds of challenges are simply opportunities, if you have the foresight to look past them”.
The point is: in adversity lies opportunity. Thomas Ferriss, in his book The 4-hour Work Week, successfully demonstrated at his Harvard entrepreneurship lectures why challenging goals are usually easier than simple ones. Most people automatically write themselves off- “It’s too hard, I’ll fail” - leaving opportunity open to those with more self-belief and willingness to act.
The Future of Financial Advice will bring change. Businesses that resist, reject or bury their heads in the sand will see client attrition, falling revenue and, eventually, obsolescence.
Click here to read more. For more information, please contact Stewart Bell at Elixir Consulting on stewart@elixirconsulting.com.au or www.elixirconsulting.com.au .
Following the recent launch of Praemium SMARTwrap, our low cost wrap solution that will help advisers to transition their business from commission to fee-for-service, the Product Disclosure Statement (PDS) for the Praemium SMARTwrap Scheme is now available.
Praemium SMARTwrap offers a transitional solution to moving from commission to fee-for-service and an ongoing low cost alternative to the mainstream wrap platforms. Here are a few of the exciting features of Praemium SMARTwrap:
Visit http://www.praemium.com.au/Praemium-SMARTwrap-Documents-Forms.html to order your copy of the Praemium SMARTwrap Scheme PDS. Please note that applications for the PrÓ•mium SMARTwrap Scheme may only be made using the application form found in the Praemium SMARTtwrap Scheme PDS.
As a promoter of the Praemium SMARTwrap Scheme we have also updated our FSG. A copy of Praemium’s FSG can be obtained by visiting Præmium’s website at http://www.praemium.com.au/fsg.html .
If you would like more information on Praemium SMARTwrap, please contact your local State Manager on 1800 702 488.
As previously advised to you in May this year, you are now able to switch on International Investments in V-Wrap for individual portfolios for an additional $100 (plus GST) per annum per portfolio.
Previously this capability (referred to as Multi Currency) was only available at the Service level.
Please note that International Investments at portfolio level is only available for portfolios with CGT processing, and the charge of $100 (plus GST) per annum per portfolio is not included in the minimum subscription fee calculation.
If this is of interest to you, a webinar on International Investments will be conducted later this month. See below article to register for this webinar. Alternatively, for more information on International Investments at portfolio level please contact the Client Services Team at mail@praemium.com.au .
Please join Sean Crisp, our Client Service Manager at Praemium, as he provides the group online training (webinar) on how V-Wrap administers International Investments at portfolio level.
Date: Thursday, 16 September 2010 Time: 11 – 11.45am
There is no charge to attend our webinar service, however, you must register. To register for this session, click here.
Did you know that you can use the Options Analysis window to perform price modelling on Exchange Traded Options? Using this window, you can change some of the option’s variables and view what impact these changes would have. For example, you can change the price of the underlying security to view the impact on the theoretical price of the option.
For more information on this feature, please refer to the V-Wrap Adviser Online Help or contact the Client Services Team at mail@praemium.com.au .
Wraps, Platforms & Masterfunds Conference
We are proud to sponsor the 2010 Wraps, Platforms & Masterfunds Conference that will take place on 2-3 September in the Hunter Valley, NSW.
In the midst of significant reform for the industry, organisers believe this year’s Wraps, Platforms & Masterfunds Conference promises to be the most interesting ever. We look forward to seeing some of you there.
For more information on this Conference, please visit http://www.masterfundsconference.com.au/index.html .
In case you missed the following recent announcements from Praemium or articles in the press, you can read it by clicking the link below:
Disclaimer: The information in this publication is of a general nature. While Praemium Limited and its related bodies (‘Praemium') endeavour to provide accurate and timely information Praemium does not guarantee that the information in this publication is accurate at the date it is received or that it will continue to be accurate in the future. Views expressed by contributors and/or services described which are provided by third parties are not necessarily endorsed by Praemium. No responsibility is accepted by Praemium for the accuracy of that information, and Praemium in no way takes any responsibility whatsoever for material contained on external websites referred to in this publication.
Don't forget to read V-Wrap's system messages
System Messages contain important information about enhancements, corporate actions and other updates. We try to ensure that only the most important and relevant messages are communicated to you.
Please don't forget to have a quick look at your System Messages inbox whenever you see that you have a new one. You may find the answers to some of your questions may have been addressed in this facility.