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Risk & Insurance
ANZ life business to become Zurich Assure
From the start of next month ANZ’s risk advice business will be re-launched as Zurich Assure. With the big four bank almost completely leaving advice, Zurich swooped in to take over the risk advice arm.
Chris DastoorJuly 1, 2022
Advice2
‘Not going to cut it’: Advisers can’t restrict themselves to under 100 clients
Without an influx of new talent coming in, the industry will be left with the challenge of boosting client capacity to bridge the advice gap. This means having 80 to 100 clients per adviser will not be sufficient according to Elixir Consulting managing director Sue Viskovic.
Chris DastoorJune 28, 2022
Technology
Insignia maintains platform dominance
Insignia Financial has maintained top spot in platform funds under management after its acquisition of MLC Wealth consolidated a fifth of the market according to data from Plan for Life.
Chris DastoorJune 28, 2022
Industry1
AMP adviser associations merge
The Advisers Association, formerly known as the AMP Financial Planning Association, has merged with Charter Financial Planning representative group the Authorised Representatives Association.
Chris DastoorJune 29, 2022
Industry
XY Adviser mulls name change amid global expansion
Social media platform XY Adviser is in the process of changing its name as it pursues a “global mandate”. What started out as a way for younger advisers to gain knowledge and network digitally has now grown up into a fully-fledged global operation.
Chris DastoorJune 21, 2022
“For those of us who already knew when to use an ROA, the ASIC guidance is of no benefit. It does nothing to reduce the regulatory burden or the cost of advice. What I was hoping to see from ASIC was action to reduce the actual regulatory burden.”
David Smith
Principal adviser, Frost Financial Planning in Winnellie, NT
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“It’s been both pleasure and privilege to have been able to count Ray as a colleague and friend for 31 of those 51 years. A more upstanding and honourable member of the advice community I have not met. The industry will be diminished by your well-deserved retirement, Ray. I’ll have a Pinot Gris in your honour, mate.”
Wayne Leggett
Adviser at Paramaount Wealth Management in Leederville, WA
Regulation
Insignia proposes centralised certification for advisers
In its submission to the advice review Insignia has suggested advisers be issued with a certificate to practice by a centrally regulated body. It argues this would improve consumer confidence and trust, but it is also not a replacement for the AFSL system.
Chris DastoorJune 24, 2022
Opinion
Scope with care: In advice, context is crucial
Effective, compliant advice needs to follow a scope-to-goals approach in a structured, repeatable and defendable manner. The industry needs to get this right quickly, and certainly before the potential proliferation of scoped advice models, or risk reverting to the olden days of product flogging.
Paul MoranJune 27, 2022
Opinion
Australians leaning towards Labor for financial services vote: CoreData
With the race to the federal election heating up, voters have shown a tendency to trust the ALP on issues to do with security, continuity and accountability in the financial services industry according to CoreData.
Simon HoyleMay 13, 2022
Industry
Improved pass rate for adviser exam
After the adviser exam pass rate cratered in January, the second iteration of the ASIC exam has seen an improvement to 43 per cent. 93 per cent of advisers registered on the ASIC Financial Adviser Register have now passed the exam.
Chris DastoorJune 20, 2022
On Practice
‘It’s not about overcharging’: Advisers should back the value they offer
Clients are willing to pay for services if they know it offers value; with client reviews being one of the best opportunities to show the benefits of having an adviser, there shouldn’t be any hesitation in charging accordingly says Plutosoft business development lead and former adviser Vincent Holland.
Chris DastoorJune 3, 2022
Investment
ASIC implores industry to call out greenwashing
The corporate regulator is encouraging investors to highlight instances of vague, ambiguous language or exaggerated marketing claims in sustainable investment products. After a review of a sample of funds, it found issuers need clearer labelling and to better define the sustainability terminology used.
Chris DastoorJune 14, 2022
1 December, 2022
Researcher Forum
SUITABLE FOR: Heads of dealer group and licensee research businesses, senior executives of independent research firms, and senior professionals involved in researching investment products for inclusion in model portfolios and implemented consulting.
The event designed specifically for senior research professionals. The forum focuses on issues related to the generation and delivery of research and research-related materials to clients.
Superannuation
No reason for industry funds to distrust advisers: Weaven
Advice is less “polluted and corrupted” now that conflicted remuneration has ended, according to Industry Fund Services founding executive chair Garry Weaven. For this reason, he said, there is no reason that industry superannuation funds should be cynical about advisers.
Chris DastoorJune 27, 2022
Industry
Shuttleworth on Centrepoint’s future and what he tells his daughter’s boyfriend
The industry veteran got a warm start at Centrepoint after working as a consultant with the board, which came in handy when talks to buy Clearview's advice network gathered pace. He speaks to Professional Planner about running the now-fifth largest licensee in Australia and the sage words of advice he had for his daughter's university-age boyfriend.
Tahn SharpeNovember 4, 2021
Profiles
Leading from 35,000 feet – treat your board as your best advisers: Alan Joyce
Qantas CEO Alan Joyce stressed the key to leading during times of crisis is seeing the big picture and tapping the experience of your own top table.
Stewart HawkinsMay 12, 2021