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John Wiseman

End Of Financial Year Issues To Confront SMSFs & Planners Will Miss Out On Business Growth Opportunities

Tagged as SMSFSMSF Trustees And MembersOpportunities For Financial Planners
Although still months away to the end of the financial year on June 30, financial planner and head of JWW Consulting John Wiseman predicts there will be a surge before this date of self-managed superannuation funds opting out of current arrangements in favour of retail, corporate or industry funds.In addition, John Wiseman is concerned that many SMSF Trustees will make hurried impulsive decisions that will adversely impact their retirement aspirations.“For financial planners, especially those with SMSF expertise, 2017 and beyond…
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SMSF Sector Loses Out Under New Industry Education & Professional Standard

Tagged as SMSFIndustry CommentaryIndustry SuperannuationSuperannuation
Although I welcome the financial service sector’s education and professional standards introduced into Parliament last year, the new changes have overlooked a gaping need for similar compulsory academic and professional requirements for SMSF trustees.   With nearly 30% of Australia’s $2.1trillion of superannuation funds in SMSFs it is incomprehensible that current and potential future trustees are not required to complete appropriate academic courses and maintain an ongoing regime of professional development.Trustees should be required to have a minimum level of education…
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Demand By Retired Australians Will Challenge The Financial Advice Landscape

Tagged as Retirement ChallengesOpportunities For Financial PlannersReverse MortgagesEquity Release
Demand from retired Australians will profoundly change the future of financial advice with planners challenged to provide solutions that capitalise and more effectively utilise the dormant wealth and value locked up in the family home said industry consultant John Wiseman.Commenting further, John Wiseman said, “For many years it has been very obvious that a great number of Australians approaching or currently in retirement will have to use their family home in some form to assist them address a myriad of…
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Planners At Risk In New Financial Environment If Fixed Income Definition Not Clarified Correctly

Tagged as SMSFIndustry CommentarySuperannuationFixed IncomeBusiness CautionInvestment Strategy
Industry consultant John Wiseman warns financial planners are at risk in the current economic environment of interest rates falling to historical lows if they fail to correctly clarify the role of Fixed Income as a defensive asset in a client’s portfolio.Using an example of a client with risk profile that has identified them as a Balanced Investor with say an account balance of $800,000 the financial planner is required to allocate at least 50% to defensive assets says John Wiseman.…
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SMSF Trustee/member Concerns Rapidly Escalating As Ramifications Of Changes Are Understood

Tagged as SMSFSMSF Trustees And MembersIndustry CommentaryNew Regulation
As the July 1 SMSF accountants’ exemption nears, and the impact the SMSF changes will have on accountants and SMSF trustees and members is revealed, is it any wonder that their level of concern is increasing rapidly as the administrative and advice ramifications are beginning to be understood in their totality said John Wiseman, industry consultant and principal of John Wiseman Consulting.One such area John Wiseman points to that has gone relatively unnoticed relates to small Australian Prudential Regulation Authority…
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For Too Long SMSF Has Been An Amateur's DIY Project; Reality Is About To Bite Hard Says John Wiseman

Tagged as SMSFIndustry CommentaryOpportunities For Financial PlannersBusiness Relationships
Reflecting on the tsunami of issues about to engulf accountants and SMSF holders, industry consultant John Wiseman points to the impact it will have on costs and fees – one of the key motivators for setting up and maintaining an SMSF. For those trustees and members, fees and charges are going to be a major and unexpected issue in the post July 1, 2016 era.Just look at the numbers challenges John Wiseman. “At December 2015 SMSF accounted for nearly 30%…
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Compare The Long Term Damage To Individual Super When Businesses Fail To Pay Employee Contributions

Tagged as Industry SuperannuationEmployee ContributionsIndustry CommentaryBusiness Potential
Quoting the famous tag line from the industry funds advertising campaign recently retired financial planner John Wiseman said the long term adverse impact and damage to the personal retirement benefits of employees where employers fail in their obligations to send the contributions to the designated funds is immense.    Putting the enormity of the problem into context, John Wiseman said it is literally breathtaking when viewed in the context of those employees who are unlucky enough to find that they…
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