In today’s world, it seems there is nothing more difficult to achieve than consensus. With almost every topic a matter for partisan debate, asking a group of people to respond to a common piece of stimulus will typically result in a range of reactions, no matter how straightforward that stimulus might appear.
Put it to a group of Australians that the sky is blue and you’re almost guaranteed to be faced with a diversity of views.
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This week at AAN, we were fully expecting a Labor party led by Bill Shorten to be heading to the lodge and their agenda to start being factored into our strategies…
The concern was always that the ALP had already flagged a mini budget in September, which would have meant at least another four months of uncertainty and then looking at the impacts of the changes they were going to introduce.
Ignoring personalities and rhetoric, the Labor economic policies were all about a big increase in taxes that they would then be redistributed to government services and welfare.
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AAN Asset Management (AANAM), the investment advice subsidiary of Australian Advice Network Pty Ltd, has grown rapidly since its introduction in January 2016. The AAN Models now manage almost $400Million.
The existing investment committee, made up of senior practioners and directors within the license, has always sourced input from external advisers however; these advisers did not have designated roles or voting rights.
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Whilst the Banking Royal Commission was making headlines earlier in the year and for much of last year, our team have been crunching numbers, and now that the data is in, we can’t help but think our clients were the winners in 2018!
When we created the Australian Advice Network in March 2015, we became part of a growing trend of advice firms moving away from the banks and institutions. Advice firms have been making the decision to leave the banks for a range of reasons, however, for us this step has meant that we can now really push back, ask questions and be your advocates in more ways than we ever could.
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With a great deal of anticipation and no small amount of speculation, Commissioner Hayne has released his findings and recommendations from the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.
He has made 76 recommendations and other than one contentious point in regards to mortgage broking and up front commissions, both of the major parties have said they will accept and implement them.
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