Named, but not accused: ASIC’s warning that isn’t a warning
When ASIC warns consumers to take care when dealing with a service provider but doesn’t explain to them why, it does not support informed decision-making. The information published should be sufficiently precise to let the reader understand what is known and what is not and why the warning has been issued.
Why advisers are ditching big firms for more personalised client service
Shaw and Partners has grown from 100 advisers and $4 billion under management in 2015 to more than 200 advisers and more than $50 billion today. Head of private wealth Chris Smith explains why advisers are leaving bigger firms and what’s driving demand for broader wealth advice.
Industry tensions over who will lead on cyber governance standards
The Financial Services Council has criticised the Association of Superannuation Funds of Australia for engaging in anti-competitive behaviour for applying to the country’s consumer watchdog for an exemption to negotiate with third-party vendors on behalf of all super funds. The government has deferred to the associations to work together on creating a standard, but the dispute raises questions over whether the industry can self-regulate.
Victims’ advocate says Crole banning ‘best thing ASIC has done’
A leading advocate for investors in the collapsed Shield and First Guardian master funds has welcomed the banning of the former chief executive of the licensee at the centre of investor losses. Melinda Kee has also urged senators to support proposed changes to the Compensation Scheme of Last Resort to make payment of compensation to victims faster and less stressful.
Canberra’s unexpected Bogleheads break cover
In marking the 30th anniversary of Vanguard’s entry to the Australian market, Labor and Coalition MPs have revealed themselves as fellow-travellers with the asset management giant’s low-cost, index-hugging ethos. It was a rare act of bipartisanship in a contested portfolio, and at odds with the industry zeitgeist.
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.
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.
Super policy centre-stage at Labor Party conference
Such is the hallowed place superannuation enjoys on Labor’s policy platform that a motion extending the super guarantee to young casual workers was the first item of business at the party’s historic 50th convention in Adelaide on Thursday. But debate over AI and data centres could spell trouble down the track for investors.
Nasdaq leadership enters its next phase
AI-led earnings growth and a historic investment cycle continue to place the Nasdaq’s largest companies at the centre of global equity markets. But for advisers, the question is increasingly not whether to participate in the theme, but how much concentration is appropriate – and where the next phase of returns may come from.
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.
Service quality beats performance and fees in adviser fund selection: CoreData
Financial advisers are routinely switching new clients into the superannuation funds they find easiest to deal with, and fund efficiency now matters more to that decision than investment performance or fees, according to CoreData.
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.
Opinion