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2024 Researcher Forum
ASIC’s research house agenda zeroes in on advice
The corporate regulator says it will scrutinise the use of investment research and ratings by advisers and licensees. But ASIC Commissioner Alan Kirkland says the watchdog has little interest in greater direct oversight of the veracity of research itself.
Chris DastoorDecember 9, 2024
Regulation3
Jones’ claim of DBFO consensus quickly tested
Despite the Minister for Financial Services Stephen Jones claiming to have achieved “consensus” between industry and consumer lobbyists, not everyone is appeased. Concerns have been raised over the charging mechanisms and education standard with key stakeholders offering a lukewarm response.
Chris DastoorDecember 4, 2024
Industry
Swan fends off Bragg offensive over Cbus governance
Wayne Swan, former Labor treasurer turned chair of embattled profit-to-member fund Cbus, has staunchly defended the construction industry fund’s trustee governance and his own independence at a much-anticipated showdown with a parliamentary committee led by Coalition senator and super sector critic Andrew Bragg.
Beata KuczynskaNovember 29, 2024
Regulation
‘Industrial scale’: Telemarketer-to-advice pipeline haunting ASIC
The regulator has linked telemarketers using high-pressure sales tactics to refer potential clients to advisers to rollover super funds into the troubled Shield Master Fund. It’s far from an isolated incident with the level of cold-calling sales tactics surprising ASIC Commissioner Alan Kirkland, who had built his career as a consumer advocate fighting against the worst of the worst of conflicted financial services models.
Chris DastoorNovember 29, 2024
Regulation
Practices should get same access to new class of advisers: FAAA
The Financial Advice Association says the new class of adviser should be a “level playing field” whereby advice practices are given the same legislative privileges as the super funds. The controversial second adviser tier was due to be introduced in legislation, but this is becoming unlikely to be voted on in Parliament with an election anticipated to be called early in the new year.
Chris DastoorNovember 28, 2024
Analysis1
Labor, Coalition make election pitches to advice profession
Shadow Assistant Treasurer Luke Howarth has pledged that cutting red tape in financial advice would be among the “number one priorities” of a Dutton Coalition government, including possible changes to life insurance commission caps and annual consent forms. But Minister for Financial Services Stephen Jones says the “best chance” at legislating advice reform is via a returned Labor government.
Aleks VickovichNovember 27, 2024
Analysis1
Jones ‘confident’ on DBFO despite stalled negotiations
Minister for Financial Services Stephen Jones is still confident of reforms to broaden access to financial advice despite reports that secret stakeholder consultations over the Delivering Better Financial Outcomes bill were “at risk of collapse”. The reassurance follows Professional Planner’s revelation that industry lobbyists were required to sign non-disclosure agreements as part of its last-ditch effort to muster consensus.
Aleks VickovichNovember 19, 2024
Advice1
No need to wait for Canberra for advice process, documentation simplification
There are things advisers can do right now to reduce the size and complexity of Statements of Advice, improve advice and produce better outcomes for consumers. Some involve artificial intelligence; some require better thinking about processes. But none of them depend on actions out of Canberra, the FAAA Congress has heard.
Simon HoyleNovember 28, 2024
Technology
Technology is becoming the ‘central nervous system’ of financial advice
Innovations in AI, automation and digital client engagement will transform the way advice practices work, whether it's through internal processes or how firms engage with their clients. This Professional Planner special report, in partnership with Netwealth, reflects on the impact of the Netwealth Accelerate Summit and explores how future-minded advice practices are harnessing technology for the efficient coordination and processing of information.
Chris DastoorNovember 20, 2024
2024 Researcher Forum
Takes a ‘superhero’ adviser to manage clients and portfolios
The move for advisers to outsource portfolio construction is warranted because it is a unique skillset, the Professional Planner Researcher Forum has heard. Because it is such a different specialisation from giving advice, it would take a “superhero” to have the skills to do both.
Beata KuczynskaDecember 4, 2024
10 - 11 February, 2025
Advice Policy Summit
The Advice Policy 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.
23 - 24 June, 2025
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.
2024 Researcher Forum
Managed account market lacking standardised assessment
The Conexus Institute head has challenged whether the managed accounts sector needs a standardised approach to performance assessment. However, many of the most influential people in the research sector think the industry sector is in reasonable shape.
Beata KuczynskaDecember 5, 2024
Industry
Profile CEO steps aside after seven years
Profile Financial Services CEO Lena Ridley will step away from the company at the end of next month, ending a nearly seven-year tenure that was marked by sweeping changes in the industry due to the Hayne royal commission, the Covid-19 pandemic, and the divestment of its product arm.
Chris DastoorOctober 10, 2024
Profiles
Generating impactful advice outcomes for an underserved market
It’s challenging for younger advisers to connect to older pre-retirees who have decades more life experience, so Pursue Wealth adviser Julia Armstrong found her niche dealing with younger women who she could relate to.
Beata KuczynskaAugust 28, 2024
Business is increasingly risky, giving good advice is not