‘Punitive pricing’ won’t fix the licensee scrutiny gap: Shuttleworth
Centrepoint Alliance chief executive John Shuttleworth says shifting the bulk of funding the ASIC levy from individual advisers to licensees won’t fix the problem it’s designed to address. And he tells Professional Planner the company is splitting its focus between three distinct types of advice relationship – licensee, self-licensed and employed – to underpin growth for at least the next three years while allowing it to keep a tight rein on costs.
If the aim is fewer licensees, let’s say so and choose them wisely
Shifting the burden of funding the ASIC levy from individual advisers to licensees sounds great in practice but could drive hundreds of smaller, well-run licensees out of business. If reducing licensee numbers is the intention, other ways must be found to do it.
Industry
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Adviser numbers to settle at 14.8k by 2030: Wealth Data
Adviser researcher Padua Wealth Data expects the number of advisers in Australia to reach 14,796 by 2030. Current adviser numbers have stabilised around the 15,000 mark after the fallout from the Hayne royal commission and the introduction of professional standards saw five-figure departures from the industry.
WTL model proven, but tailwinds alone won’t create value: Cullen
WT Financial Group founder and managing director Keith Cullen said the licensee’s business model is now proven, and that it has built the “machinery” needed to convert well-documented industry tailwinds into shareholder value.
‘Next phase’ of Infocus growth kicks off with platforms appointment
Infocus founder and managing director Darren Steinhardt says an increasing focus on working with advisers and practices outside its own licence means it needs the senior executive capability – and access to capital – to support its growth plans.
Parliament should review travel restraint laws in major financial misconduct cases
As the travel restraint of First Guardian CIO Simon Selimaj has been lifted, Shield and First Guardian investor advocate Melinda Kee writes that confidence in the system is lost long before a court delivers its verdict.
Three down, one to watch: Navigating the 2026 tax reforms
The 50 per cent capital gains tax discount is gone, negative gearing has been quarantined, and SMSF property borrowing is all but finished but the measure that should be occupying advisers most hasn’t even made it into a bill, writes Arthur Marusevich.
ClearView shareholders agree to $415m acquisition by Zurich
Shareholders of ASX-listed life insurer ClearView have voted in favour of an acquisition by Swiss-based peer Zurich. The deal further consolidates the Australian life insurance market, with most firms now owned by internationally based parent companies.
When AI decides who’s credible, invisibility becomes the bigger risk
Prospective clients are asking AI for financial advice expertise long before they contact an adviser, writes Assured Support’s Sean Graham. Licensees that restrict what advisers publish may be managing one risk while creating another: being absent when trust is formed.
When life gives you lemons: Squeezing after-tax returns from the CGT overhaul
The proposed 30 per cent floor on capital gains tax proposed in this year’s federal budget will hit low-income investors hardest. But Betashares’ Cameron Gleeson argues it also creates a case for rethinking whether income or growth is the more tax-efficient return for these clients.
Researcher Forum
Advice Policy Summit
This event is open to CEOs and senior leaders of financial planning licensees, dealer groups and boutique advice firms, along with C-suite executives in superannuation funds with oversight of advice, education and guidance.
Budget and big super create tailwinds for advisers, licensees: Humphrey
The “structural tailwinds” of budget tax changes and big super’s focus on financial advice will help buoy financial advice and licensee businesses for years to come, says Count chief executive Hugh Humphrey. Both Count and fellow ASX-listed Centrepoint Alliance announced full-year results this week that reveal where they expect growth to come from.
Shadforth is buying businesses, not books
Not even a year on from its acquisition of Melbourne-based financial advice firm PMD Financial Advisers, Shadforth is still looking for M&A opportunities but strictly to add like-minded advisers, rather than just client books. CEO Terry Dillon tells Professional Planner what those ideal businesses looks like.
How pro-bono work helped adviser Nicola Beswick create new firm
Lawyer turned financial adviser Nicola Beswick recently launched her own financial firm White Rabbit Advisory. Through her experience on the board of the Pro Bono Financial Advice Network, she learned valuable lessons which helped her navigate the challenges of setting up her own business.
Advice