Financial advice ranks bottom in list of retirement confidence drivers
Vanguard research found financial advice is less crucial as a driver of retirement confidence, compared to factors like income security and being debt-free, but those with access to professional advice are likely to have a higher level of confidence about their retirement plans.
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
1
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.
How the protection of a prudential regulator convinced Mulino to revive DBFO
The additional consumer protections provided by a prudential regulator ultimately convinced Minister for Financial Services Daniel Mulino that he could go ahead with a restricted form of the new class of adviser proposals contained in the Delivering Better Financial Outcomes reforms. At the Conexus 2026 Retirement Leaders Summit on Wednesday, Mulino said his thinking had been reshaped by the collapse of the Shield and First Guardian managed investment schemes.
Qualified support for Mulino reforms as industry sweats on the detail
Super funds, insurers and advice bodies have broadly welcomed the government’s reform package, while consumer advocates worry it waters down critical consumer protections. Everyone wants more detail.
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.
Morgan Stanley moves client subset off legacy platform to Netwealth
Morgan Stanley Wealth Management will move a subset of its clients off its legacy platform onto Netwealth, further aiding the platform provider’s expansion into the stockbroking and private wealth market. The deal comes as the fast-growing Netwealth plans to double in size over the next four years, despite regulatory issues caused by First Guardian in the past 12 months.
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.
The retirement challenge – solving for the present, pitching for the future
The super industry’s pitch for the future will only carry weight if it delivers on present challenges. It’s time for the super industry to ‘pat head and rub tummy’, writes The Conexus Institute’s David Bell and Geoff Warren ahead of the Conexus Retirement Leaders Summit.
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.
Advice