Lyn Dixon, Head of Professional Standards and Compliance, Infocus Wealth Management
Making product recommendations in a post FOFA world shouldn’t be such a scary prospect for those who have been operating in a professional manner under the current legislation. For those advisers who have a good understanding of the circumstances of their client, the dictates of the strategies (from both a technical and product perspective) they are recommending and the characteristics of the product to be recommended, the change is should not be onerous.
In recent years, with the global economy going through a relatively chaotic phase, we’ve seen plenty of screaming headlines like “$40 billion wiped off Australian share market in one day!” “Markets brace as crisis in Europe flares up again.” These headlines might be great for selling newspapers, but they’re not much use to us as investors and can seriously mislead us.
Darren Steinhardt, Infocus Founding Director, announced today he is stepping out of the role of Infocus Managing Director to direct his energies into mentoring and coaching other business owners and entrepreneurs.
Over the past few months, Infocus has revised its go to market approach to sustain the rapid growth of the dealer group and bolster local on-the-ground support for its network of offices across the country.
At its meeting today, the Board decided to leave the cash rate unchanged at 3.50 per cent.
Having picked up in the early months of 2012, growth in the world economy has since softened. Current assessments are that global GDP will grow at no more than average pace in 2012. Most commodity prices have declined, which has helped to reduce inflation and provided scope for some countries to ease macroeconomic policies. Australia's terms of trade peaked nearly a year ago, though they remain historically high.