Advice business valuations ‘critical’ if CGT changes pass
Getting valuations of advice practices will be critical for succession planning for business leaders if the Albanese government’s tax changes come through, according to a pair of M&A experts. Having a valuation of an asset for 1 July 2027 when the changes come in will drastically make calculating future capital gains easier.
Sequoia chair resigns amid InterPrac turmoil
Mike Ryan, chair of ASX-listed Sequoia Financial Group which owns under-fire InterPrac Financial Planning, has resigned from the company as the group grapples with multiple legal troubles in the aftermath of the $1 billion Shield and First Guardian collapse.
Court clears way for sale of First Guardian director’s $9m house
The Federal Court has approved the sale of the house of First Guardian head David Anderson, which he bought for $9 million in 2020. However, several creditors are owed before investors see any of the proceeds.
Equity Trustees calls trustee-for-hire model ‘successful’ despite Shield, First Guardian
Equity Trustees considers the trustee-for-hire a “successful” model despite the Shield and First Guardian collapse. The group also pushed back against any moves to make trustees fund remediation for similar collapses and called for more regulation and oversight of financial advisers.
Lifting adviser capacity would make new class of adviser redundant: WT
There would be no need for a new class of adviser if advice practices were to lift productivity and the education standard was fixed, according to WT chief executive Keith Cullen. Ahead of next month’s Licensee Summit, Cullen tells Professional Planner that lifting client capacity is just one of four pillars he sees as supporting success for advice practices in his network.
The missing role of judgement in financial advice
Financial advisers inhabit a vast world of technical compliance and many believe that if they can just tick every box and satisfy every technical requirement, they will have adequately discharged their obligations. But Templestone CEO Shivi Malik writes the reality is this is never enough.
Why most financial advice scandals give a sense of Déjà vu
Most financial advice scandals are depressingly familiar, often following a similar playbook with predictable results, writes Simon Hoyle. While the players involved may change, the fundamental story doesn’t and it won’t be the last time it’s told.
Former Godfrey Pembroke CEO to lead Vital Business Partners
Outgoing Godfrey Pembroke chief executive Mark Fisher will lead outsourced paraplanner specialist firm Vital Business Partners, having departed the licensee after it secured its adviser ownership and exit from Insignia Financial. Fisher tells Professional Planner the new role will put him at the forefront of helping advice practices drive efficiency.
People are already using AI for financial advice, so let’s make it safe
Financial advice is now the second most common use of AI, yet most of it remains unlicensed, unregulated, and often wrong. Otivo’s Paul Feeney writes the challenge for our industry is clear: how do we put the right guardrails in place?
Markets looking through turbulence as earnings growth underpins equities: AMP
Despite geopolitical turbulence, markets are avoiding short-term turmoil and reacting to the underlying fundamentals showing the strength of major economies, a pair of AMP investment executives told the Professional Planner Managed Accounts Decoded podcast.
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Budget’s CGT changes will shift adviser approach to client portfolios
The government has confirmed highly anticipated changes to CGT and negative gearing concessions in Tuesday night’s budget. Advisers are already pondering how this will impact the investment strategies for their clients.
Lessons from the middle: Leadership, resilience and the courage of conviction
The principles of high-performance leadership – whether in business or sport – remain remarkably consistent and include the ability to maintain clarity, integrity, and conviction under immense pressure. Former Australian test cricketer Usman Khawaja told the Top1000funds.com Fiduciary Investors Symposium that the only time you really lose is when you stop trying.
Reflecting on nearly half a century in financial advice
After an extensive 47-year career, Paul Harding-Davis says that while every decade has seen a significant step change that has felt like an “Armageddon” it has instead only seen the standard of the industry improve. Reflecting on his long career to Professional Planner, he is still evangelical about recruiting young people to advice.
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