The Dover Group
  • February 3, 2017
  • January 12, 2017

    Down on his luck

    Dr Tim (not his real name) was reeling. Age 60, and he did not see it coming. Divorce. It was one of those no-fault divorces. They just grew apart. It had been a grueling thirty-five years for both of them. A late entry to medicine (Tim taught first), an early entry to parenthood, one income, […]
  • January 8, 2017

    Can a churn be in a client’s best interests?

    An independent adviser approached MLA Lawyers with an interesting question. (This is not unusual, by the way. Many of MLA Lawyers’s clients are not Dover advisers.) The adviser’s client, a forty year old executive on a salary of about $400,000 a year was paying about $12,000 a year for risk insurance premiums. There we was […]
  • January 4, 2017

    Financial planning is about gender equity

    Man And Woman Sex Equality Concept
    Women access financial planning less than men, earn less than men, accumulate less than men and retire with less than men. But they live a lot longer than men. One third of women receiving an age pension live below the poverty line. Single women who do not own a home suffer the most. They are […]
  • December 23, 2016

    The pitfalls of risk analysis questionnaires

    I completed a risk analysis questionnaire just now. It did not take long. Just 15 questions. Each with between 2 and 6 possible answers, and a score for each answer. Once complete a score is compiled. If the score is low the client is conservative and if the score is high the client is not […]
  • December 9, 2016

    Schadenfreudian, and cruel

    It’s my last weekend before signing off for the year, so I am doing what every conscientious AFSL responsible manager should be doing: laboring over recent ASIC enforceable undertakings against financial planners trying to learn more about how I can make a good thing even better.  In summary, it’s mind manipulating character assassination by press […]
  • November 30, 2016

    The Assumption of the Cars

    Assumption of the Cars
    The car has a holy role in the psyche of many men. It says something about you, and about what you want to be. It’s a signal of your success…. It’s the Holy Grail. Or is it the Holy Grill? This was brought back to me at a recent Dover CPD day when I was cornered and […]
  • November 2, 2016

    Financial planning is about taking a holiday

    Financial planning is about taking a holiday
    Dr Ethan and his wife Esther migrated to Australia in 1988. They were Russian Refuseniks, brought to Australia from the USSR under a special deal done by the then prime minister, Bob Hawke. Ethan’s medical qualifications were not recognized so he took a job as a trainee nurse. He completed the training and applied to […]
  • October 18, 2016

    Financial planning is about basketball

    Financial planning is about basketball
    Since when was financial planning about financial products? I recall a meeting with Steve some years ago. Steve was a 40-something medical specialist whose oldest son was about to play his first game of under nines basketball. Steve lamented that he would probably never see him play a game: they were scheduled for just after […]
  • October 17, 2016

    Two sets of rules

    armchair in corner
    Financial Services Minister Kelly O’Dwyer will announce on Monday that the government will create a new independent standards body with broad powers to govern professional standards for financial advisers, including setting a code of ethics. The big banks and the AMP will bankroll the establishment of the statutory body … The Australian Financial Review can […]
  • October 13, 2016

    Making good SOAs even better

    Making good SOAs even better
    Congratulations to our Senior Compliance Manager Yin Low on her recent admission as a solicitor in the Supreme Court of Victoria. Yin completed an undergraduate law degree in Cardiff, Wales, and a masters degree in law at Monash University, and is also a qualified financial planner. Yin’s admission was moved by Mina Andrawis, a director of […]
  • September 30, 2016

    Dealing with older clients

    Senior couple meeting real-estate agent for investment
    Sadly, financial elder abuse is a reality. And with increasing wealth and longevity it’s becoming a more frequent reality. The Victorian State Trustee has created some useful information that can be accessed here: Victorian State Trustees and Elder Abuse. I recommend you read these materials, and similar materials, and generally acquaint yourself with these serious […]
  • September 26, 2016

    Property in 2046

    index result
    Our property crystal ball Australian property prices are high now. But the real question is where will Australian property prices be in 2046? Clients have think long term. As we wrote last month that can as far out as 100 years: The Russell ASX Long Term Investment Report is mandatory reading for anyone really […]
  • September 11, 2016

    LIFE in 2026

    It’s 1 July 2026. You are about to see your first new client for the new financial year. There will be many more. They will all be short meetings. They have to be. Your waiting room is full. There is a new client deluge: everyone wants real tax-deductible-strategy-based-financial planning advice. Independent and objective advice on super, investment […]
  • September 10, 2016

    When being average is good

    I recently dined with F. William McNabb III, the CEO of Vanguard International. You will be relieved to know his friends and colleagues call him “Bill”. I usually do not accept work based dinner invitations. But this was an exception. I have never before been invited to dinner with the CEO of a company that manages […]