AUSTRALIAS 1ST STRUCTURED PRODUCTS MASTERCLASS (RG 146)

5 MAY 2010

Are you RG 146 compliant to advise on structured products? Do you advise SMSF or HNW clients on Instalments, hybrids, protected loans, or capital protected investments? As our market volatility continues – and these vital investment strategies proliferate – make sure that you are fully equipped to deliver the best, cutting edge advice, with full RG 146 accreditation. And don’t forget RG 164, the “category killer” requirement – ASIC requires that giving complex advice needs higher level accreditation than the basic RG 146 qualifications that most planners hold.

Structured products provide tailor made solutions for SMSF and HNW clients. In this unique 1 day intensive Master Class we look in detail at the key building blocks and technical issues behind the use of structured products in client portfolios, as well as the most incisive analysis of key structured products ever delivered in Australia. In this Master Class we examine the rationale for using structured products, using detailed case studies of key product types to fully explore them, and with a detailed technical appraisal of key legal and tax issues that relate to structured products:

Part 1: rationale for structured products

  • What is the financial and prudential rationale for using structured products instead of traditional managed funds? What does the 2009 APRA paper tell us about traditional investments?
  • What is the financial and prudential rationale for gearing and/or protection? What are the benefits and differences between normal high risk gearing (eg margin loans) and innovative low risk gearing strategies like Instalments and protected equity loans?
  • How do you evaluate the benefits and risks of protection strategies, including:
    • Traditional put option based protection
    • “bond + call” protection
    • CPPI protection – understanding cash lock
    • “Option on CPPI” or “Option on dynamic basket” protection – no more cash lock?
  • How do product issuers price and deliver each of these alternative product styles?
  • What don’t you get from product research providers?

Part 2: Case studies of leading structured products (including key investment strategies)

  • New style “stop loss” ASX listed “self funding instalments” eg RBS, UBS, Macquarie
  • Macquarie “Equity Lever” – unlisted instalments
  • Traditional “hard put” instalments eg Citibank
  • SMA style protection, eg Linear SMA
  • Protected equity loans – what are the new issues?
  • New style 100% protected investments eg Macquarie FLEXI 100
  • AXA North
  • CBA Capital Plus Series
  • UBS Targets
  • Citibank Range Accrual products

Part 3: DIY SMSF gearing

  • SMSF gearing – SIS Act rules and rationale
  • Unlisted gearing products – what are they, how do they work, what are the risks etc
  • DIY SMSF gearing
    • Role of the SMSF
    • Role of the asset custodian
    • Investment rules
    • Sourcing and structuring the finance
    • Accounting and audit
    • Tax, CGT, stamp duty, land tax
    • Implementation, eg conveyancing issues, dealing with the bank,
    • Shares and “replacement assets” – what are the issues
    • Third party guarantees – what is the latest?

Part 4: Putting it all together

  • Taxation issues for structured products
    • Do I get a deduction for interest expenses? When do I get the deduction?
    • What does the ATO think? The ABN AMRO Elixir ruling
    • When do I get franking credits on dividends?
    • Tax treatment for SMSF
    • What about Part IV A?
  • Corporations Law and securities law issues for structured products
    • Is the product a “security” or a “derivative”
    • What does ASIC think about Deferred Purchase Agreements?
    • SMA’s and MDA’s – what are the regulatory issues and who is responsible for the client advice?
    • Actively managed portfolios – planner responsibilities and liabilities
  • SOA’s – what are the key issues that you must disclose to the client?

Join us on 5 May 2010 in Sydney for the LPAC Online Structured Products Masterclass. This unique and independent RG 146 accreditation program will keep you at the cutting edge, helping you deliver innovative investment strategies for your HNW and SMSF clients – and ensuring that you are up to date and fully compliant. Conference enrolment includes full workbook and technical papers, case studies and worked examples.
REGISTER NOW: Early Bird offer (ends 30 March): $495 + GST (Normal price $550 + GST)
Spaces are strictly limited, for further details please click here.