It means access to and pricing in relation to products such as credit cards, home or personal loans may be impacted, and some borrowers may be able to access better deals. So, how can you work out which option is best for you? For me, the answer is not just about cost, it also comes down to asking yourself five basic questions. The impact of the reforms are particularly concerning when you consider that a quarter of Australian women are completely unaware of what a credit score is and 65 per cent of women have never checked their credit report, according to research from consumer education website, CreditSmart.
So what do you need to know about costs? If you have less than $10,000 to invest and don’t need a strategic financial plan or support around insurances, super and debt, robo advisers like Stockspot and Six Park offer some low-cost options. To encourage more people to invest, Stockspot charges $0 on a $10,000 investment for the first six months, after which it charges $66 a year (including GST). A slightly larger portfolio of $20,000 would pay $132 per year (inc GST).
Financial advisers will generally charge about 1 per cent to manage someone’s money, and an upfront fee of about of $1500 for a statement of advice before products or services are provided. Indeed it’s worth noting that for a financial planner to be profitable, the more a client has to invest, the more it is worth their while in management fees. Between $200,000 and $300,000 is often cited as a range that becomes profitable.
“It is a misnomer that you need to have a lot of money before you should seek financial advice,” saysulia Schortinghuis, a financial planner with Lighthouse Capital. If a client has a smaller amount to invest but has lending, insurance and superannuation needs, she adds, then $3000 in fees would be about the mark where the work becomes viable. The best tip is always to talk to a financial planner first. It’s important to get a clear understanding of costs and services before signing anything, and that’s goes for doing your research on robo advice too.
To assist in the improvement of women’s financial well-being AMP Financial Planning will encourage more women to seek financial advice and look for employment in the financial planning industry. Managing director of AMP Financial Planning, Michael Paff, believes working in the industry makes for a rewarding career. “We want to encourage more women to become advisers, for their own benefit and for the health of our industry,” Mr Paff said.
Digital finance strategy: Advise and implement strategic choices to help improve the finance function. This includes supporting new businesses models and capabilities, and the identification of opportunities to transform the finance organization leveraging new technologies Finance service delivery model: Advise on how finance can be best organized to deliver efficiencies (bottom line savings) and effectiveness (top line growth) in accordance with the organization’s strategy
Thinking about overseas adventure travel? Have you put any thought into the best places to go when it comes to overseas adventure travel? Nepal is one of the most popular places of all, when you visit this magical country you will have the best adventures right there at your doorstep. Only overseas adventure travel in Nepal will give you these kinds of opportunities so if this is not on your list of possible places to visit yet then now is the time to put it on there!
“Deloitte delivers finance excellence consulting through the Finance division of its Strategy & Operations practice, supplemented by contributions from its Finance Advisory, Technology, and Tax practices.” “The point for Deloitte is to get away from the prevailing view that focuses operations on transactional activities and instead design them to serve the business.”
Specifically, for Deloitte, ALM highlights, “Deloitte is armed with a dedicated finance analytics offering and takes the position that yesterday’s efficiency plays can form the foundation for today’s innovative capabilities. The firm is particularly adept at helping clients adapt technology and shared services and outsourcing into operating models that deliver the sort of planning and analysis critical for finance to fulfil its business partnering ambitions.”
DISRUPTION in the retail power sector isn’t anything new, but its pace and consequences appear to be increasing. Nonetheless, many retail power providers are not responding to the existential threats with the urgency one might expect. While the call to innovate faster and more effectively is getting louder by the minute, Deloitte’s experience with retail power providers around the world suggests that the vast majority of innovation is still focused on core operations. In other words, it’s generally about making established products and services better, rather than expanding from existing business into “new-to-the-company” business or inventing brand-new products or services for markets that don’t exist yet.