‘Material uncertainty’ over Sequoia as a going concern
Sequoia Financial Group, the ASX-listed owner of the InterPrac financial advice licensee, has disclosed a material uncertainty over its ability to continue as a going concern as regulatory and legal actions engulf the licensee. Sequoia earlier flagged its intention to revive the sale of InterPrac as a precursor to trying once again to unwind a controversial deed of cross guarantee.
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.
NCA backflip shows advice profession tarnished by Shield and First Guardian
The establishment of the government’s proposed new class of adviser is unlikely to top the policy wish list of many advisers and licensees, but the profession’s omission from the coming regime is telling.
The future of licensing requires accountability and consumer choiceÂ
The FSC’s proposal to recalibrate the ASIC levy by significantly increasing the amount payable by AFSLs threatens to decrease competition and consumer choice for no improvement to licensee governance and consumer protection, writes Kon Costas.
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.
Pre-retirees’ use of AI not a vote of no-confidence in advice
Take-up of AI tools is inevitably spilling into the advice space, but new research suggests this does not signal a decline in the role and the importance of advisers. The CoreData/Conexus Financial Best Possible Retirement study shows that people with an adviser use AI to do their own exploration, test their own ideas, and then seek validation from a human.
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.
New research highlights the need for financial advice in the workplace
Australians want their employers to step up on financial advice and education with the cost of not doing so already showing up in workplace mental health and performance. Demand for corporate super specialists is set to rise.
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.
Regulation