Opinion on Financial Services in Australia

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Type Product title / description Pub Price
Expert View
Expert View

A broad portfolio of wealth management services is necessary to attract Australian investors

The wealth management sector in Australia is experiencing rapid growth. Consequently it has become a target market for many international players, as well as domestic competitors looking to expand. However, providers of wealth management services need to offer a flexible portfolio, which appeals both to the self-governing investor as well as to those who require more financial guidance.

Published By Datamonitor
04 Apr 2011
Expert View
Expert View

Account portability in Australia is one step closer, but major challenges remain

One of the key objectives of the new banking reform launched by the Australian government is to conduct a feasibility study for implementing full account number portability. While this is a positive step for consumers, who will be able to keep their account numbers when switching providers, Datamonitor believes that there are major challenges which need to be addressed.

Published By Datamonitor
15 Dec 2010
Expert View
Expert View

Advisors need more tech to become high touch

New technology can allow advisors to bridge the gap between customer needs and costs.

Published By Datamonitor
26 Jun 2013
Expert View
Expert View

Alipay must push its international relevance

Alipay will need to effectively communicate its relevance to overseas markets, before it is branded as just another payment company for Chinese consumers.

Published By Datamonitor
27 Nov 2014
Expert View
Expert View

Amendments to FOFA's opt-in requirements will benefit consumers and industry

The Australian government has announced that although opt-in requirements will still be part of the FOFA reforms, advisors will be able to avoid the requirements if they are part of an organization governed by a code of conduct that has been approved by the ASIC. Datamonitor believes that the amendment will reduce industry costs substantially, while still ensuring that clients' interests are met.

Published By Datamonitor
23 Apr 2012
Expert View
Expert View

AMP uses enhanced Elevate wealth protection to target Australian miners

AMP has upgraded its insurance offer, Elevate. The upgraded suite was launched at AMP Expo 2012, the first in a series of nationwide expos for financial planners and advisors running throughout May. The enhancements focus on improvements for people working in the mining industry, giving AMP a tailored option for the most important growth market for wealth managers in Australia.

Published By Datamonitor
14 Jun 2012
CommentWire
CommentWire

AMP: insurance sell-off will sharpen wealth focus

AMP has sold its insurance and reinsurance businesses to US company Enstar Group for A$585 million, booking a profit of around A$83million. The sale frees up capital for AMP and, more importantly, allows the group to focus on its core operations, including wealth management, a market set to benefit from new government retirement savings initiatives.

Published By Datamonitor
14 Dec 2007
CommentWire
CommentWire

AMP: looks on the bright side of the credit crisis

AMP has announced that its earnings growth for 2008 is likely to be lower as a result of the global credit crisis. Although the Australian wealth manager agreed with several other banks that the worst of the crisis is likely to be over, Datamonitor feels that financial institutions in Australia should be cautious over the next 12 months as some of the world's leading economies slow down.

Published By Datamonitor
16 May 2008
CommentWire
CommentWire

AMP: marketing push to revive its retail banking brand

AMP is looking to redefine its retail banking business and to capitalize on the opportunity created from having fewer players in the market. To achieve this, the company has launched a new marketing campaign, focusing on an innovative transaction account. This novel product will attract consumer interest and Datamonitor expects other banks to develop similar accounts in the future.

Published By Datamonitor
05 Mar 2009
CommentWire
CommentWire

AMP: profits fall amid tough economic conditions

AMP's 41% decline in net profits for 2008, which was driven by declining equity markets and a volatile financial environment, affected both the wealth management and insurance divisions of the company. However, despite this negative news, early trading saw AMP's stock rise by several percent, indicating that the market may have expected the company's announcement to have been even worse.

Published By Datamonitor
24 Feb 2009

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