Dutch and Canadian markets fare worst
While Australian investors have done it tough over the past quarter, they have not experienced quite the level of stress as their Canadian and Dutch counterparts, according to the latest Mercer sector surveys.
The Mercer data revealed that while all major markets declined in September, it was the Netherlands and Canada that had fared worst, with declines of 14.9 per cent and 14 per cent respectively.
By comparison, the Australian share market, as represented by the S&P/ASX300 index, posted a 9.9 per cent fall in September and was down 27.1 per cent over a 12-month period.
The Mercer analysis said that resource sectors had been the hardest hit, with energy stocks down 13 per cent and materials down 22.5 per cent.
Recommended for you
The popularity of ETFs, which are approaching $200 billion in Australia, is a potential threat to the advice landscape if consumers opt to invest directly, according to this senior partner.
A former AMP financial adviser has urged advisers in the BOLR class action against AMP to object to the “unfair and unreasonable” $100 million settlement sum as the objection deadline approaches on 22 May.
Two Victoria-based financial advice practices have merged and rebranded as Forbes Fava Saville Financial Planning, as the firm realises the benefits of added scale.
The Financial Services and Credit Panel has made its latest ruling over a case involving an incorrect Statement of Advice.