Think twice before getting financial advice from your bank

This startling figure comes from a recent review of the financial advice offered from the big four banks by the Australian Securities and Investment Commission (ASIC).

Even more startling: 10% of advice was found to leave investors in an even worse financial position.

Through a “vertically integrated business model”, Commonwealth Bank, National Australia Bank, Westpac, ANZ and AMP offer ‘in house’ financial advice, and collectively, control more than half of Australia’s financial planners.

It’s no surprise ASIC’s review found advisers at these banks favoured financial products that connected to their parent company, with 68% of client’s funds invested in ‘in house’ products as oppose to external products that may have been on the firms list.

Many financial commentators are calling for a separation of financial advice attached to banks, with obvious bias and failure to meet the best interests of clients becoming more apparent.

Chris Brycki, CEO of Stockspot, says “investors should receive fair and unbiased financial advice from experts who will act in the best interests of their client. What Australians currently get is product pushing from salespeople who are paid by the banks.”

Brycki is calling for structural reform to fix the problems caused by the dominant market power of the banks to ensure that consumers are protected, advisers are better educated and incentives are aligned.

Stockspot’s annual research into high-fee-charging funds shows thousands of customers of banks are being recommended bank aligned investment products despite the potential of more appropriate alternatives being available.

Who Is To Blame For a Car Accident When No One Was Driving?

Self-driving cars may be on the horizon for ordinary California drivers — a dramatic change that could prevent motor vehicle accidents and make exhausting daily commutes more efficient. But before drivers switch to the “passenger” seat, governments and courts will likely need to grapple with legal issues, including liability for car accidents involving autonomous cars.

Autonomous Cars Are Already In Development

With refinements and advancements in technology, auto experts say that self-driving vehicles could safely navigate California roads within a matter of years. According to a report written by KPMG LLP and the Center for Automotive Research, two types of technologies must converge before autonomous vehicles become widespread. Sensor-based technologies such as the lasers and cameras must be able to work in conjunction with devices that would allow vehicles to communicate seamlessly with each other and with infrastructure.

The convergence may not be far in the future. Auto makers and others are working on both self-driving cars and vehicles with semi-autonomous systems. In fact, autonomous motor vehicles are already on U.S. roads. Most famously, self-driven vehicles in development by California technology giant Google have traveled more than 200,000 miles.

New California Laws Authorize Testing

With autonomous cars on the cusp of feasibility, state lawmakers are preparing new laws to deal with the changes. A new California law authorizes the testing and establishes safety and performance standards for driverless cars. In fact, the Governor even made it a point to ride to Google headquarters in an autonomous vehicle before signing the legislation.

Previously, California law did not prohibit testing of these cars, but it had not specifically allowed or encouraged it. Nevada was one state that had already created laws and regulations for the testing of autonomous cars.

It is likely that such laws are leading the way for a new legal framework when it comes to self-driving cars. However, they do not address a potentially thorny problem: Whose fault is a car accident when no one is driving?

Broader Legal Framework Needed

Beyond simply allowing self-driving cars to be tested, lawmakers and courts must determine who must pay for vehicle crashes when no person is actually driving the vehicle. If a motor vehicle crash happens because a driver made an error or was negligent, the other people involved in the crash can typically recover compensation for their injuries and property damage from the driver.

Neither California case law nor the new statute is currently equipped to determine liability in accidents when no one is driving. This, and other issues will need clarification.

Will Car Manufacturers Be Liable?

In addition to drivers, manufacturers also face issues of liability for autonomous cars. Lawmakers may need to determine when manufacturers can be held responsible for accidents caused by defects or glitches in the systems of self-driving cars.

In general, if someone is injured by a defective product, a manufacturer can be found liable even if the company was not negligent or careless. Currently, products liability cases involving motor vehicles may involve, for example, defective seat belts, improperly designed roofs that crush occupants in a rollover, problems with airbags, electronic stability controls or tire defects. But with self-driving cars, new technologies, including auto-to-auto communications and advanced sensoring devices, are creating new horizons in electronic motoring that most certainly will create responsibilities on the part of the manufacturers.

Since the manufacturers will be solely responsible for the functioning of a driverless vehicle, and since lives will be at stake, it will be important for autonomous vehicles to not only be free of defects, but to have “fail safe” technology designed in order to protect the public in the event of a failure.

Article provided by The McClellan Law Firm
Visit us at www.mcclellanlaw.com

Basics of BigCommerce Development Services

There are a couple of services that the website builder gives and they prove to be quite and feasible. Users can build and design their own online store, secure hosting, fulfill orders and accept payments, just to name a few. Here is a list of all the main features of the online website builder.

Build a website
Building a website is simpler with BigCommerce Development Services. Building an online store individually can be quite a task. The owners can design and customize the website as they like and the service will let them do so in a very easy manner.

Design and customization
Aesthetic considerations are important and it also holds true in the case of an online store. Users can choose from a lot of templates and themes to make their stores more visually appealing. These designs give them an edge over competitors and are a vital point in attracting customers.

Hosting
Hosting a site securely and managing the servers can cost thousands of dollars and a lot of time. Letting the development service take care of the hosting seems a viable option. It will save a lot of time and money and host the servers securely.

Increase Traffic
The website one builds with the help of the development service comes with an inbuilt SEO and marketing tool. It lists the website on various high-traffic websites, thus attracting more potential buyers. The built in Google Shopping advertises the website to shoppers looking for products on Google.

Payment options
BigCommerce allows the owner of the store to make transactions over a wide range of options. This helps to reach out to more customers globally and all this at the industry’s best rate. Credit cards or PayPal are accepted to receive the payments at the click of a finger.

Essential BigCommerce Development Services
These Development Services provide website building services for the budding entrepreneurs who want to open up their own online store. eCommerce stores are picking up a pace and many people are going for this option. There are several such website builders, but this one is unique as per its services which are given below:

Theme Customization
The look of an online store is what intrigues a customer. The website builder offers a lot of instinctive and stunning themes to choose from. Using those themes can enhance the brand and attract more customers. The out-of-the-box themes are something of a wonder to rely on for advanced customization.

Native Mobile App Development
The Mobile cart conversion feature is up to three times faster than the average industries. All the responsive designs that it offers add up to the mobile sales. Mobile commerce is made easy with optimization that allows the viewer the store on multiple devices all at once. No updates are necessary for that matter and enough payment options are available for shoppers.

Plug-in Development and Integration
Industry leading third-party apps are integrated within the website so as to provide the best solutions. Owners can impeccably connect their store to a software in order to sell their products effectively. There are plug-ins and other integrations for marketing, shipping, ERP, and CRM purposes.

Responsive Custom Web Design
The design of the website can be the way the store owner decides it to be. There are templates and themes to choose from and thus reducing time on designing. Theses templates reportedly give the owners an edge over their competitors.

Product Migration System
BigCommerce also provides re-platforming services from any other e-commerce solutions. With the migration capacity of over 20,000 stores, it is an ease switching over to BigCommerce. Using the bulk import features or taking the help of a catalog transfer team for migrating the products.

Conclusion:

E-Commerce is an emerging market and people are inclining towards the online shopping experience. Opening one’s own online store seems a good verdict at the time. BigCommerce Development Services is a platform that will enhance the virtual store on many grounds.