Financial Services and Insurance


Financial Services and Insurance news and insights for Australia’s small and medium business owners and entrepreneurs. Read the latest financial services and insurance news, trends and features and entrepreneur interviews about the financial services and insurance industry.

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News


Refund Home Loans boss slammed for making false statements to franchisees
James Thomson Federal Court finds Refund Home Loans’ Wayne Ormond has breached the Trade Practices Act after telling franchisees the ACCC had approved the way Refund was dealing with franchisees. | Sunday, 14 March 2010

Small business furious as RBA reports suggest banks have gouged customers
James Thomson Retail group calls for a six month moratorium on bank fees after a RBA report suggests the big banks have raised interest rates well above the increases in the cost of funding. | Friday, 12 March 2010

Structured finance company collapses
James Thomson Sydney-based structured finance and investment company Securities International Limited has been placed in voluntary administration after collapsing with debts of $2-3 million. | Thursday, 11 March 2010

One in five women don’t trust partner with money: Survey
James Thomson Women have been urged to tackle the issue of “money conflicts” in their relationships after a survey found 19% of women do not totally trust their partner with shared finances. | Monday, 8 March 2010

Commonwealth Bank makes $200 million settlement with Storm customers
James Thomson Lawyers for clients of collapsed financial services firm Storm Financial have negotiated a $200 million settlement with Commonwealth Bank, which provided loans to many Storm clients. | Tuesday, 23 February 2010

COSBOA backs changes to bankruptcy laws
James Thomson The COSBOA throws its support behind the Government’s proposed changes to bankruptcy laws, which would see the threshold at which a creditor can put a person into bankruptcy raised from $2,000 to $10,000. | Monday, 22 February 2010

Colonial First State to wind up mortgage fund
James Thomson Colonial First State has shocked the struggling mortgage fund sector by announcing it will wind up the $850 million Colonial First State Mortgage Income Fund. | Wednesday, 17 February 2010

Australian company launches Warren Buffett investment fund
James Thomson JB Global, run by former Macquarie banker Justin Beeton, has launched a special product that will allow investors to leverage into Buffett’s investment company, Berkshire Hathaway. | Wednesday, 17 February 2010

Mortgage broker facing wind up order
James Thomson Mortgage House of Australia could be sold off after its parent company, Global Mortgage Equity Corporation, was hit with a wind up order in the NSW Supreme Court. | Tuesday, 16 February 2010

Six investment funds to be wound up
James Thomson Six managed investment and superannuation funds holding $260 million will be wound up by the administrator of collapsed financial services group Trio Capital. | Thursday, 11 February 2010

Trends


ACCC hits out at handsets
Patrick Stafford The ACCC is hoping to introduce an industry agreement with mobile carriers in order to protect consumers' rights regarding faulty products. | Monday, 15 March 2010

Microsoft not so hot on employees using iPhones
Patrick Stafford According to a report in the Wall Street Journal, Microsoft staff are concerned by the number of employees using iPhones, manufactured by rival Apple. | Monday, 15 March 2010

Google close to shutting down Chinese operations
Patrick Stafford Google is reportedly extremely close to shutting down its operations in China, with the company 99.9% sure it will leave the country within the foreseeable future. | Monday, 15 March 2010

Joe Hockey attacks internet filter
Patrick Stafford Shadow treasurer Joe Hockey has attacked the Government's proposed internet filter, flagging the possibility the Opposition will vote against the plan. | Sunday, 14 March 2010

Features


How to get cash from banks
Patrick Stafford Spotless financial records, low debtor levels and a clear, easy-to-understand business case are three critical requirements for SMEs that want funding. | Wednesday, 10 March 2010

Late payment
Robert Bryant The finance and insurance sector is being hammered by the global financial crisis, but the sector's underlying growth prospects are good. | Tuesday, 7 April 2009

How to pick the best investment adviser
Michael Laurence Storm Financial’s formula for investment success was fundamentally flawed, and should have sent warning signs to investors with even minimal investment skills. MICHAEL LAURENCE asks long-time investor specialists how to identify investment advisers that should be avoided | Monday, 16 February 2009

Rich bargain hunters
James Thomson One certainty in every downturn is that asset prices will take a dive - allowing some rich pickings for those that have the cash to leap on a bargain or two as they surface. We track down some of the bargains our rich have managed to snaffle. | Sunday, 15 February 2009

Struggle for survival reshapes the banking and finance sector
James Thomson The SmartCompany Dun & Bradstreet Industry Growth List for the banking and finance sector, while revealing an industry reeling from the global crisis, has also uncovered the successful fallback tactic of finding a niche and making it your own | Tuesday, 10 February 2009

Why the internet will beat the downturn
Amanda Gome The silver lining for Quickflix in the economic downturn is the “lipstick effect”, where people indulge in cheaper at-home recreation. Founder Stephen Langsford tells AMANDA GOME how the evolving online world has changed his business. | Tuesday, 20 January 2009

How will your sector perform in 2009?
James Thomson The threat of recession hangs heavy over the business landscape, but not every company is bracing for bad news. In a sector-by-sector breakdown, SmartCompany reveals the industries of likely refuge in the maelstrom ahead. | Monday, 19 January 2009

Five lessons from the collapse of Storm Financial
Storm Financial’s stumble into administrator’s hands wasn't just a result of the financial crisis – its strategy left it badly exposed and distracted. JAMES THOMSON picks over the remains and looks at the salient lessons for every entrepreneur. | Tuesday, 13 January 2009

2009: The billionaire oracle
If you think that the view of the year ahead is any better from the top of a pile of money, think again. JAMES THOMSON reports on what billionaires are predicting for 2009, and where they hope some light will first appear in the gloomy economic landscape. | Thursday, 8 January 2009

Economy 2009: 10 key forecasts
Steve Burnham There are several key elements affecting the overall economy, and the stability or otherwise of each can be integral to your business’s viability for the year ahead. JAMES THOMSON surveys the likely scenarios. | Wednesday, 7 January 2009

Entrepreneur Zone


Jo Burston
Patrick Stafford News imageWhile Jo Burston had an idea for a business which could provide services for payroll packaging and outsourcing she had no funding. | Thursday, 11 February 2010

Michael Russell
James Thomson News imageMichael Russell is the chief executive of Mortgage Choice, Australia's largest independent mortgage broker. Russell was appointed in May, in the middle of an extremely difficult year for the company. He talks to SmartCompany about the pressure on commissions, the need for more competition in the banking sector and whether or not our kids will ever be able to afford their own homes. | Tuesday, 1 December 2009

Sean Russo
Patrick Stafford News imageIf you allowed your clients to decide how much to pay you, what sort of fee would you receive? | Thursday, 29 October 2009

Ned Montarello
James Thomson News imageDespite the downturn, ThinkSmart, which specialises in providing finance products for the B2B sector, has had a solid year. | Wednesday, 21 October 2009

Tim Johnston
Amber Plum News imageAn unserviced niche in the accountancy industry saw BooksOnSite become one of the fifth largest bookkeeping businesses in the country. | Friday, 2 October 2009

Keeping business cooking
James Thomson News imageSilverChef's Allan English has used the 'rent, try, buy' model to help hospitality businesses while helping his own. | Thursday, 21 May 2009

Recruiter rides the outsourcing wave
Amanda Gome Andrew Banks heads the winning HR firm Talent2, and has built a highly successful and lucrative career from making canny calls on recruitment trends. He tells AMANDA GOME about his strategies and predictions. | Tuesday, 14 October 2008

Aussie’s strong growth plan
Amanda Gome John Symond’s Aussie Home Loans has continued to grow despite ructions in the mortgage market. His advice? Don’t be a victim, especially as circumstances change and customer needs evolve. He tells AMANDA GOME how he positioned Aussie as an organisation th | Monday, 29 September 2008

A start-up with style
Amanda Gome The brainchild behind Swap My Style is 29-year-old Shaughla Ahmad, who has brought like-minded fashionistas a new concept that combines clothes, champagne and canapes with a night out. She tells AMANDA GOME how it all came about. | Tuesday, 16 September 2008

Aussie’s strong growth plan
Amanda Gome John Symond’s Aussie Home Loans has continued to grow despite ructions in the mortgage market. His advice? Don’t be a victim, especially as circumstances change and customer needs evolve. He tells AMANDA GOME how he positioned Aussie as an organisation th | Tuesday, 2 September 2008
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