Planners irritated by Govt delays
A number of financial planners have expressed irritation about the Federal Government's delay in releasing the Henry Tax Review.
At Perennial Investment's annual conference in Melbourne, assembled delegates were asked to vote on what they thought of the Government's decision to delay the release of the final Henry review recommendations, with more than half of the responses being openly critical of the decision.
Many of the respondents labelled the move 'irritating', 'annoying', 'stupid', or 'crap'. Other responses labelled the delay as 'typical' of the Federal Government.
In a later, unrelated question put to a vote during the conference, an overwhelming majority of delegates said they would prefer the Coalition be voted into office at the next election, despite more than 60 per cent of delegates believing that the Rudd Government would nevertheless be re-elected.
The Perennial Investment conference organisers expressed surprise after the vote at the number of delegates favouring a Coalition Government.
The final Henry report was expected to be released in late February for public consultation.
Recommended for you
A financial advice firm has been penalised $11 million in the Federal Court for providing ‘cookie cutter advice’ to its clients and breaching conflicted remuneration rules.
Insignia Financial has experienced total quarterly net outflows of $1.8 billion as a result of client rebalancing, while its multi-asset flows halved from the prior quarter.
Prime Financial is looking to shed its “sleeping giant” reputation with larger M&A transactions going forward, having agreed to acquire research firm Lincoln Indicators.
An affiliate of Pinnacle Investment Management has expanded its reach with a London office as the fund manager seeks to grow its overseas distribution into the UK and Europe.