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conferences....investment or indulgence?

This is an article by Sue Viskovic, who is the Managing Director of Elixir Consulting, and author of the Adviser Pricing Models Research Report.  As experts in the field of practice development, Elixir Consulting has been engaged by Præmium to 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.

I have noticed something in my travels over the years. Advisers who regularly attend conferences both within and outside of their own dealer groups tend to have a more positive business outlook, are open to new ideas and are often better equipped to cope with changes that affect their business and the advice they provide to their clients.

On reflection, this is hardly surprising. The adviser who is not inclined to venture out of their own business and comfort zone tends to stay more introspective and miss out on opportunities to learn from others and share ideas in what is a constantly evolving and challenging industry. Ironically, it is in times of market and business stress, that advisers can gain the most from a conference, at a time they perceive they can least afford to attend.

Conference agendas have certainly evolved over the past decade or two. Today, most organisers take a very structured approach to identify relevant and timely issues, and seek out speakers who are educated, inspiring, and leaders in their field. The ratio of social to business sessions has changed since the heady early days, where the old "junket" has become a thing of the past. Of course, social time is important, for many it is the first time they've enjoyed a good night out in a long time (especially after such a long bear market!), and some of the best networking and ideas come out after a few glasses of the local's finest.

Many dealer groups are prudently working with reduced conference budgets, and either conducting their conferences within Australia, or selecting International venues that make good use of exchange rates to keep down overall costs. Whilst joining with your peers and business partners within your network should be a compulsory addition to your business calendar, attending conferences outside your dealer can provide an expanded level of knowledge and opportunities to share ideas with a broader network of advisers.  There are many great conferences put on by the FPA, the AFA, Kaplan, SPAA, the list goes on.

To read more of this article, click here.

 

 

 præmium business solutions conference

The advice industry is possibly at a cross roads, and there is an opportunity for all of us to strengthen our positioning in the market. The Government, in all likelihood, will impose some very stern conditions on the industry that will change the pricing structure dramatically and hence, the way advisers operate. Given that the effect could be severe, business proprietors will need to be well prepared.

The global financial crisis has highlighted weaknesses in the current business structure of many advisers, so change is inevitable to avoid fallout from these weaknesses in the future. Consumer confidence will not likely improve until change occurs and the advice industry will remain at risk.

We believe the timing is right for an event such as Præmium Business Solutions Conference, especially since industry discussions continue on many fronts concerning financial products and advice, remuneration, superannuation and so on.  We invite you to diarise this date in your calendar:

Some of the topics that will be addressed during this conference include:

More information about this conference will be available shortly.  Sponsorship opportunities are also still available.  To register your interest, please email: rsvp@praemium.com.au or contact Renny Chan on 03 8622 1275.

 

enhancements to the data upload process!

Some enhancements will be made in early November to the following Trading Activity functions within V-Wrap:

Formerly, when you clicked the click here link, a copy of the upload spreadsheet was emailed to your email address.

This function will be changed so that you will be able to open or save a copy of the upload spreadsheet directly from the V-Wrap screen. When you click the click here link, a dialog box will appear to either open or save the spreadsheet, or cancel to return to the Upload screen.

Please note that only the delivery method of the template has changed. All other steps remain the same, i.e. you will still need to save the spreadsheet to your local or network directory before you can create the xml or csv file to upload into V-Wrap.

A System Message will be created once these enhancements are made in early November. Alternatively, please contact the Client Service Team via email at mail@praemium.com.au for more information.

 

myob/solution 6 update

MYOB/Solution 6 IRS released an enhancement back in June/July 2009 which had an impact on the file creation into V-Wrap, where the file date and account details were not placed on the file.

MYOB/Solution 6 IRS have subsequently released an update to correct this situation early in October 2009 under Version 8.0 (b).  This version is now available on the MYOB website, www.myob.com.au .  

Please download Version 8.0 (b) to ensure your file will be created and loaded into V-Wrap correctly.  The latest version of MYOB/Solution 6 IRS will also fix a lot of the printing issues that occurred with the previous version.

For more information, please contact Sean Crisp via email at sean.crisp@praemium.com.au .

 

webinar - BGL 998 account

The BGL 998 Account Webinar that was initially scheduled to take place on Wednesday,    21 October 2009 has been rescheduled to:

Date: Thursday, 19 November 2009                  Time:           11 - 11.45 am

We hope you can join Scott Jackson and Michael Mihalic, Præmium's Relationship Development Team, as they provide this group online training.

There is no charge to attend our webinar service, however, you must register.  To register for this session, click here.

 

powerwrap workshops

Following the release of Powerwrap's new investment administration service - the Powerwrap Investment Account - Powerwrap will host a series of 2 hour workshops in Melbourne and Sydney. 

Melbourne - Thursday, 12 November 2009

Sydney - Friday, 13 November 2009

These workshops are a prelude to the 2009 FPA National Conference where Powerwrap will be showcased, together with Praemium, at the Trade Expo.

Powerwrap offers a full service wrap account built on Praemium's leading edge V-Wrap portfolio technology widely recognised for its Accountant strength tax reporting, CGT optimisation and comprehensive investment reporting, which integrates perfectly for a total solution.

If you are using V-Wrap in your business then Powerwrap is the perfect solution for clients with managed funds.

Powerwrap's Head of Distribution, David Harris, will demonstrate the efficiency and power of the Powerwrap solution and senior personnel from Praemium will answer any questions relating to the integration with V-Wrap.

Places for the workshops are limited, so reserve your seat today.   To make a booking, please email rsvp@praemium.com.au or call Renny Chan on 03 8622 1275. Advisers in other states are invited to register their interest in attending a similar workshop in your capital or regional city.

 

portfolio protection - BlackRock's Capital Protected Top 20

Many of us insure our assets, like our house and car, yet not many of us protect other large assets such as our "investment portfolios". With financial market uncertainty, protecting your portfolio for 100% of your initial investment upon maturity may be preferred by some investors. The BlackRock Capital Protected Top 20 allows investors to mitigate the risks of investing through exposure to the top 20 Australian securities while maintaining 100% protection of their underlying investment.

Investors have beneficial ownership of the underlying shares which allows them to receive dividends, take advantage of any franking credits, and perform individual tax parcelling - but now with 100% capital protection on the initial investment, upon maturity.

Investors can also view online, the underlying securities they own in their individual portfolio, daily performance and valuations of their portfolio, dividends and franking credits as they are received, purchases and sales.

Click here for further information regarding the Capital Protected Top 20, or alternatively contact BlackRock's Adviser Services Centre on 1300 366 101.

Click here for a copy of the PDS.

This information is of a general in nature and does not take into account your personal circumstances, financial needs or objectives. While Praemium Australia Pty Limited AFSL 297956 and its related entities (‘Præmium') endeavour to provide accurate and timely information Præmium do not guarantee that the information is accurate at the date it is published or that it will continue to be accurate in the future. Before acting on any information, you should consider the appropriateness of it and the relevant product having regard to your objectives, financial situation and needs. In particular, individuals should seek independent financial advice and read the relevant Product Disclosure Statement or other offer document prior to acquiring a financial product.

 

other upcoming events

A number of seminars and workshops will take place in the next couple of months that may be of interest to you. 

Lessons to learn for 2010

As the end of 2009 is approaching, it is a good time to reflect on what has occurred in financial markets and some of the trends we should keep in mind for 2010.

Præmium is pleased to invite you to a luncheon to hear what Dr Don Stammer has to say on this topic, and we believe it is a good opportunity for you to extend this opportunity to a key client or business partner.

To reserve your seat at this luncheon (and we encourage you to bring along a client or business partner), please contact Nat Fiennes via email nat.fiennes@praemium.com.au or on 02 9222 8500 no later than close of business Friday, 20 November 2009.

2009 FPA National Conference

The upcoming 2009 FPA National Conference in Melbourne on 18 - 20 November takes on the theme of ‘The Professional Edge'.

As a proud sponsor of the this event featuring the very latest in technical content, professional development, networking opportunities and an exciting Trade Expo, we look forward to seeing you there.

This year Præmium will join Morgan Stanley Smith Barney, Powerwrap and E*TRADE Broking Services to promote the concept V-Wrap - the Universal Wrap as a solution to deliver low cost investing with high quality reporting.

V-Wrap - the Universal Wrap will help advisers meet consumer demand for greater transparency, reduced cost of investing and satisfy the push to abolish commissions between product providers and advisers.  V-Wrap - the Universal Wrap will fit whatever fee-for-service structure advisers wish to consider.  

For more information on this conference, please click here.

 

recent announcements & in the press

In case you missed the following recent announcements from Præmium or articles in the press, you can read it by clicking the link below:

You can view other ASX Announcements or articles in relation to Praemium at any time by visiting our ASX Announcements or In the Press section of the website.

 

Disclaimer: The information in this publication is of a general nature. While Præmium Limited and its related bodies (‘Præmium') endeavour to provide accurate and timely information Præmium do 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 Præmium. No responsibility is accepted by Præmium for the accuracy of that information, and Præmium in no way takes any responsibility whatsoever for material contained on external websites referred to in this publication.

in this issue...

 

tip of the month

Billable Portfolios

Details for identifying portfolios for an invoicing period and for closure management can be obtained by Level 12 users via the "Billable Accounts" button on the Main screen. If a portfolio is closed or deleted prior to the last day of the billable month, then that portfolio is no longer billable and you will not receive an invoice for the renewal charge, unless the portfolio is reactivated at a later date.

 
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