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Compliance

FSCP determinations grow, but offers little insight

The corporate regulator has given the advice community several updates over misconduct assessed by the Financial Services and Credit Panel, but whether the detail or insights are sufficient to clue in licensees and advice professionals is up for debate.
Superannuation

Brighter Super looks to put advisers in driver’s seat

Brighter Super, the amalgamation of LGIAsuper, Energy Super and Suncorp Super, will hit the road later this year to pitch the fund’s services to advisers in its home state of Queensland. As a mix of industry and retail funds, head of advice Steven O’Donoghue believes they are in a unique position to derive the benefits from both sides of the market.
Industry
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Industry

Lessons from the UK: access to advice, tech and a secure future

Off the back of a successful study tour in the UK to assess the strengths and weaknesses of advice models overseas, BT head of platforms distribution Jason Brown writes there is plenty for both markets to learn from each other, whether it’s about the advice process, technology or access.
Industry

Dixon investors a step closer to complaint determinations

A lead decision issued by the Australian Financial Complaints Authority has found against the failed advisory firm on a number of issues and paves the way for the speedier resolution of more than 1900 other complaints.
Opinion
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Opinion

Profitable and ethical advice a prime opportunity for young advisers

Profitable delivery of reasonably priced and ethical financial advice to younger Australians is an important opportunity for a new generation of professional advisers, provided the regulatory environment is appropriately structured, writes financial educator, Robert M C Brown.
Opinion
1

Five lessons of the Hayne reckoning five years on

While consumers (and the big banks themselves) may have moved on from the Hayne royal commission, the wealth management industry still feels its legacy each day in the challenging commercial environment in which they now operate, writes Aleks Vickovich. The five-year anniversary of the commission’s final report offers a milestone to reflect and ensure a culture of misconduct doesn’t return.
On Practice
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Licensees

AMP ‘running hard’ to make licensee financially viable

Amid increased satisfaction and strong financial performance of its aligned practices, AMP’s Advice division continues to operate at a steep loss one year away from its stated target to break even by FY24. AMP head Alexis George tells Professional Planner there is still fat in the business to be trimmed and this will precede any other major shake-up to the licensee.
Technology

Iress wealth unit earnings slide after cash injection into Xplan

Financial services technology firm Iress has posted a 14 per cent decline in underlying earnings in its local wealth management division, which includes financial planning software Xplan and content platform Advisely, helping to contribute to a $137 million net loss for the group. But CEO Marcus Price says Iress’ future is not all doom and gloom.
Investment
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Regulation

‘No decision has been made’ on MIS review: Jones

Despite reports the government would raise the sophisticated and wholesale investor threshold because of the current Managed Investment Scheme review, the Minister for Financial Services Stephen Jones has put speculation to rest this week that any policy decision has been made.
Upcoming events
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18 - 19 June, 2024

Licensee Summit

The annual Licensee Summit is recognised as the key event for the leaders of financial planning dealer groups and licensees to meet and engage with peers and colleagues to discuss the issues that underpin great businesses and the delivery of great advice.

Email to register now.

For content about the previous event, please visit our publication website. 

Advice
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SMSF

SMSF advice on ASIC’s regulatory radar

A year after the release of the consolidated info sheet covering the standards for SMSF advice, ASIC will conduct a new review to test industry implementation. The review comes amid the ATO’s continued crackdown on illegal early release of super via SMSFs and a spike in disqualifications of SMSF trustees.
Profiles
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Profiles

‘We rarely advertise’: Grove living off two decades of organic growth

By building a two-decade strong community presence in two Western Australian cities, Grove Securities has avoided the need to allocate resources to marketing or advertising, instead relying on organic growth.
Profiles

The circle of (business) life and ongoing succession plans

Taking over a small boutique business more than six years ago, Wakefield Partners senior advisers Lynette Anderson and Scott Keeley completed a succession plan and licensee switch at the same time. With that transition settled and in the past, they believe it’s important to have their own succession mapped out.