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Dover Financial Advisers
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It’s seems conservatism is the new black. Everyone is doing it. But is everyone right? Should everyone be doing it? Or is the concept of conservatism fatally misunderstood, a dangerous mis-conception causing long term financial havoc if left unchecked and uncorrected by responsible financial...
https://www.dover.com.au/irrational-neo-conservatives-copy/
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Fee for service practices require advisers to provide the full range of financial planning services to each client. It’s just too hard to get meaningful fees from one service.  
What is “the full range of services”? Opinions differ, but for me it includes:

home advice, particularly advice on...
https://www.dover.com.au/effective-referral-arrangements/
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The Corporations Act, and the general law, require advisers to ensure their advice is in their client’s best interests, appropriate to the client’s circumstances, and prioritizes the client’s interests over the adviser’s interests.
This means each client’s unique circumstances must be considered...
https://www.dover.com.au/financial-planning-clients-not-like/
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Most fund managers cannot beat the index. Passivity beats activity. In the investment world being average means you are better than most. The average is pretty good: take virtually any year of the Russell ASX Long Term Investment Report and it will tell you that Australian property and...
https://www.dover.com.au/financial-planner-fund-manager/
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RG 175 states that an SoA does not need to be given in the case of further advice. In scenarios where the advice is on the same basis as the original SoA and the client’s circumstances have not significantly changed, a further advice RoA may be prepared.
It is however not always appropriate to...
https://www.dover.com.au/practice-note-27-dovers-guidelines-relation-preparing-record-advice-roa-advice/
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Ten years ago our training manager, Adrian McMaster, was the humorist for Alan Kohler-s Eureka Report, which has since become part of the Murdoch Press. In recent years you will have heard us banging on about how average returns are actually wonderful. But our thoughts are not new: here is what...
https://www.dover.com.au/a-retro-friday-reflection/
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Non-deductible debt is expensive debt.
Non-deductible debt should always be paid off as a priority over any other investment.
If your client earns more than $180,000 a year they face an effective marginal tax rate of 49%, made up of 45%, plus a 2% Medicare Levy and a 2% Temporary Budget Repair...
https://www.dover.com.au/get-rid-non-deductible-debt/
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Since 1 July 2013, advisers have an obligation to provide a ‘Fee Disclosure Statement’ and ‘Renewal Notice’ to their clients if they are receiving an ongoing adviser fee.
Four years on and some advisers still struggle with this requirement. I don’t blame them. It is hard for advisers and dealer...
https://www.dover.com.au/practice-note-25/
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Women access financial planning less than men.
Women also earn less than men, accumulate less than men and retire with less than men.
Women live longer than men. 
One third of female age pensioners live below the poverty line. It’s expected to get much worse.
Single women who do not own a...
https://www.dover.com.au/bernard-salt-got-it-wrong/
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The AFSL that licenses robo-advice will have huge compliance problems, and will probably be uninsurable.
The Corporations Act licenses AFSLs and authorized representatives. It does not license logarithms or computers. It imposes subjective advice requirements on personal advice, ie the best...
https://www.dover.com.au/ai-future-financial-planning-advice/
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