Adele Ferguson

Adele Ferguson

Adele Ferguson comments on companies, markets and the economy.

Adele Ferguson

Macquarie Group file shows cheating on financial adviser exams must be stamped out

Adele Ferguson As the minister for finance Mathias Cormann gets set to ram through his amendments to financial advice reforms, the issue of low educational requirements and institutionalised cheating on exams is...

Life insurance industry next to feel ASIC blowtorch

Life insurance

Adele Ferguson Some of the more unsavoury practices of the country's multibillion dollar life insurance industry will be put under the blowtorch next week, including the insidious practice of advisers "churning"...

Shock as real estate franchise enters financial planning market

Adele Ferguson dinkus Dinkus

Adele Ferguson One of the country's biggest real estate agencies Ray White has stunned the financial services industry by setting up a financial planning arm at a time when the sector is suffering from a crisis in...

Finance

Macquarie writes to dead people

Macquarie bank logo

Adele Ferguson and Ben Butler Macquarie Private Wealth has sent letters to dead people as part of its mailout to 160,000 current and former clients who may have received shoddy financial advice.

Adele Ferguson

Turning up the heat on property market

Adele Ferguson dinkus Dinkus

Adele Ferguson As the boards of the country’s listed property trusts search for growth options to feed an investor addiction to yields, an already hot property sector is expected to reach boiling point as...

Adele Ferguson

Super fund governance overdue for overhaul

Adele Ferguson dinkus Dinkus

Adele Ferguson When the Coalition came to power a year ago it promised a big shake-up in the corporate governance standards of the country's $1.6 trillion superannuation.

Finance

Macquarie Private Wealth: ASIC denies losing Penske File

The corporate watchdog alleges Healthzone's former executive chairman Peter Roach obtained a loan from the company under false pretenses.

Ben Butler, Adele Ferguson The corporate regulator has denied losing a document, known as the Penske File, allegedly used by financial advisers at Macquarie Group to cheat on continuing professional development exams.

Timid ASIC under fire over crackdown inconsistencies

Adele Ferguson dinkus Dinkus

Adele Ferguson Peter Holt is not the only financial adviser that has ASIC has been accused of going light on.

Lobbyists gather as financial advice combed over

Commonwealth Bank

Adele Ferguson Lobbyists were out in full force this week as the number of parliamentary inquiries and committees into the financial services industry and financial planning continue to multiply.

Big banks face up to structural flaw

Adele Ferguson dinkus Dinkus

Adele Ferguson It was only a matter of time before the big banks would be forced to address the structural flaw that has driven the financial planning scandal: vertical integration.

Massive Qantas write-off part of Alan Joyce's exit strategy

Adele Ferguson dinkus

Adele Ferguson Qantas boss Alan Joyce’s tactic to front load costs and take a massive $2.6 billion hit on the value of the international business could be a sign that he is tarting up the national carrier...

Aviation

Can Qantas Airways boss Alan Joyce keep his head?

AFR FIRST USE ONLY. 19 OCT 2007. generic aircraft  arriving and leaving sydney airport. qantas , virgin , virgin atlantic , virgin pacific , jetstar , united airlines , customs , travel , .Photo by ROB HOMER. SPECIALX 73156

Adele Ferguson Qantas boss Alan Joyce was not joking when he said "there's always people that are after my head". Joyce was responding to a question about whether he could get past the $2.

AMP and big banks rush to lift planners' qualifications

Australia's big four banks.

Adele Ferguson, Ben Butler Australia's big four banks and AMP have moved to beef up educational standards for financial planners as they struggle to stem a crisis of confidence in the advice industry.

Proper standards of education would be a good start for the financial advice sector

Adele Ferguson dinkus

Adele Ferguson It is little surprise that the crisis in confidence gripping the financial planning industry and the intense scrutiny on vertical integration and low education levels has reached the boards of the...

John Neal continues to struggle to plug holes in floundering QBE

Adele Ferguson Two years into the top job and QBE boss John Neal is finding new excuses for the skeletons that continue to tumble out of the insurance giant’s tardis-like closet wreaking havoc across its...

CBA rewards bosses of scandal-ridden financial planning division

Grahame Petersen

Ben Butler, Adele Ferguson Victims of the Commonwealth Bank’s financial planning scandal have slammed as ‘‘obscene’’ and ‘‘devastating’’ multimillion-dollar pay packets...

Comments 100

Long-overdue register to shine light on financial planners

Adele Ferguson dinkus Dinkus

Adele Ferguson By early next year a national register of financial planners is expected to be up and running in a move designed to help clean up an industry described by the corporate regulator as one that...

Macquarie to compensate big investors

Macquarie Group.

Ben Butler, Adele Ferguson, Georgia Wilkins Macquarie Private Wealth's offer of compensation to 160,000 customers who may have received poor financial advice will include so-called ''sophisticated'' and ''wholesale'' investors, the corporate...

Macquarie ordered to contact 160,000 customers over possible financial advice compensation

A man walks on a pedestrian bridge in front of the Macquarie bank tower in Central Sydney September 18, 2008. Shares in Macquarie Group, Australia's biggest investment bank, plunged as much as 20 percent on Thursday to their lowest in over five years amid concerns over its ability to fund its business model.     REUTERS/Daniel Munoz (AUSTRALIA)

Adele Ferguson, Ben Butler, Georgia Wilkins More than half a million Australians may have received shoddy advice about what to do with their retirement nest-eggs from financial planners, many of whom do less training than a hairdresser, it has...

Macquarie's bombshell a call to arms

Adele Ferguson dinkus Dinkus

Adele Ferguson Macquarie Equities Limited’s bombshell offer to set up a compensation scheme to any customer who ever received advice from one of its advisers should be a call to arms to the Abbott Government...