The Association of Financial Advisers (AFA) has attacked a report which finds that people don’t trust financial advisers.
A research paper by Roy Morgan Research about consumer satisfaction with their financial advice ranked advisers low, with only 25% rating them “very high” or “high”.
By comparison, the advice of other professions, such as accountants (50%), bank managers (33%) and lawyers (32%), was ranked higher.
AFA National President Jim Taggart says the report means advisers must prepare to do battle to win over consumers.
“Trust is fundamental to the advice relationship,” he said.
“We know from our own Back to Basics consumer research that those who use advisers highly trust them – in fact they rank advisers as the most trusted professional, after specialist doctors and dentists.
“However, those who don’t have advisers don’t trust them. We have to ask ourselve
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22 Oct
Posted by Allison Thomas as Corporate Finance
The recall comes a day after Toyota announced a safety recall of about 1.5 million vehicles worldwide to fix a brake fluid leak that it warned can gradually diminish braking performance.
The defective cylinders were built by the same Ohio-based supplier, ADVICS, a Honda spokeswoman said.
“Our supplier is the one who actually notified us of the issue,” Honda spokeswoman Christina Ra told AFP.
The recall affects 2005 to 2007 model years of the Acura RL and Honda Odyssey vehicles built at Honda’s Saitama, Japan plant.
The bulk of the affected vehicles — nearly 472,000 — were exported to the United States.
Honda is not aware of any accidents or injuries related to the defect, Ra said.
Honda said its recall was to “prevent the unlikely failure of a seal in the brake master cylinder.”
The seal could fail if factory-installed brake fluid is replaced with substandard brake fluids that have “reduced lubrication properties.”
If that were to happen, the low brake fluid warning lamp would light up, Honda said.
It cautioned that “failure to repair the master cylinder seal would eventually result in a soft brake pedal and the possible loss of one of the two hydraulic braking circuits.”
Notices will soon be sent to owners and repairs will be performed free of charge, Honda said.
21 Oct
Posted by Brian Anderson as Finance Help
The upward trend in petrochemical prices this year will be main driver behind the improvement in sector revenues, which are forecast to grow 28% to US$31.5bn in 2010 compared with last year, Frost & Sullivan’s Latin America research analyst for chemicals, materials and food, Jessica Antunes, told BNamericas.
Such price hikes have been led by adjustments in the petrochemical feedstock naphtha and natural gas.
With demand picking up globally, prices have risen internationally and consequently impacted the domestic market. Brazil currently imports 30% of its naphtha needs and 50% of the natural gas used as petrochemical feedstock, according to Frost & Sullivan.
The growth experienced in 2010 is partially related to a recovery from the economic crisis, which emerged in late 2008 impacting global demand and prices, the analyst explained.
20 Oct
Posted by Brian Anderson as Finance Help
Chile’s current renewables law punishes hydro power and is out of step with international standards, Jose Antonio Valdes, the general manager of Australia’s Pacific Hydro, told BNamericas.
“Chile has the resources for clean power. Wind, sun, rivers and geothermal, but we think hydro is the most important of all these because the technology is the most advanced and it is the most competitive,” according to Valdes.
“But today, under current law, hydro is being punished. And why? Because the law only considers hydro plants up to 20MW of capacity as renewable. This means that the 155MW La Higuera plant is essentially considered to be a coal-fired plant.”
Under Chile’s 20.257 law, utilities are fined for not obtaining 5% of their power from renewable sources. Hydro projects over 20MW do not qualify as renewable.