World Financial Planning Day promotes value of advice in 22 countries
Now in its tenth iteration, World Financial Planning Day has focused in recent years on helping consumers protect themselves from fraud and scams, particularly online. FPSB chief executive Dante De Gori says that over the past decade the event has grown from “this new thing that no one really understood” to being observed in 22 territories around the world.
‘Permanent capital’ behind Ironbark’s choice of Merchant in $256m deal
Merchant Wealth Partners’ $255.9 million investment in Ironbark Financial Group – its biggest investment in a wealth management business outside its US home market – underlines the rude health of the Australian financial advice sector. Ironbark executive chair Chris Larsen says the investment will power the local firm’s acquisition, technology and AI strategy.
‘Growth is key’: New AMP CEO says platform flows won’t come at expense of margin
AMP’s platform flows hit a record high in 1H26, but competition for industry fund outflows is heating up and ASIC has put platform governance under the microscope. But new CEO Blair Vernon tells Professional Planner the business can keep growing.
Victims’ advocate: Investors could ‘end up with breadcrumbs’ in class action
A class action brought against Macquarie in its capacity as trustee of a platform that hosted the collapsed Shield master fund may take longer to settle and yield poorer results for investors than pursuing claims through AFCA and the CSLR, a leading victims’ advocate has warned. And investors attracted to the class action in the hope of being compensated twice will likely be disappointed.
FAAA calls for review of proposed data breach report deadline
The Financial Advice Association Australia’s submission to privacy reform consultation recommends clarifications including how certain points will work alongside existing regulations, and a review of the 72-hour data breach report deadline.
How Nvidia’s Jensen Huang could reshape geopolitics for investors
Stanford University professor Stephen Kotkin says computing power will become the key geopolitical contest between the US and China, predicting Nvidia founder and chief executive Jensen Huang will become an increasingly central figure in international relations. The comments came as Kotkin met with Conexus Financial founder Colin Tate AM and chair Geoff Lloyd in the famed Hoover Tower ahead of the Top1000Funds.com Fiduciary Investors Symposium at Stanford.
Competence, judgement, diligence the minimum required of licensees
ASIC’s finding that former InterPrac boss Garry Crole was neither fit and proper nor competent, and lacked diligence and judgement, is a timely warning: licensee leadership isn’t always what advisers assume. Advisers who don’t hold their licensees to account might find they only have themselves to blame if something goes catastrophically wrong.
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.
AGS Financial expands into three new locations through acquisition
Adding to its six existing locations, AGS is now present in Picton and Sutherland in New South Wales and Parkdale in Melbourne through the acquisition of Hartley Financial and Tax & Wealth.
ASIC’s ‘guide’ for advisers considering private credit funds
ASIC’s 10 principles for “private credit done well” provide a timely and useful roadmap for financial advisers considering whether exposure to the asset class is right for clients. In a speech last week, Commissioner Simone Constant flagged fee transparency, liquidity mismatches and complex underlying structures as being among the things to watch out for.
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.
APRA expects proposed reforms to hit platforms hardest
APRA has proposed requiring super trustees to limit members’ exposure to high-risk investment options as part of a package the regulator expects to have the greatest impact on platform trustees following the $1 billion collapse of Shield and First Guardian.
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