New opposition minister not convinced ‘education is the answer’
New shadow Minister for Financial Services Kevin Hogan is not sold on university degrees being the best pathway to becoming a financial adviser, instead saying that on the job training has been undervalued.
First Guardian liquidation continues to eat up recovered funds
First Guardian liquidators want to “temper expectations” over the return of funds to investors as the cost of the liquidation continues to grow with the amount recovered, leaving estimated net cash of $326,000 after expenses.
Insignia to delist with all hurdles for sale completed
Insignia Financial will delist from the ASX at the end of the month as the Federal Court has given approval for the acquisition of the ASX-listed wealth giant by CC Capital.
Fintech looks to add 50 advisers in three years with private advisory launch
Wealth management fintech Openmarkets has revealed plans to expand into private wealth with the goal of adding 50 financial advisers to its AFSL in the next three years as it pivots to a B2B model in the aftermath of regulatory action that has been settled with ASIC.
Sequoia scuttles InterPrac sale over complexity and uncertainty
Sequoia Financial Group has scrapped plans for the controversial sale of InterPrac Financial Planning to Conquest Investment Partners after both parties failed to satisfy all conditions necessary to complete the transaction.
Evolution of the CIO: Why retiree clients need a Chief ‘Interpretation’ Officer
For years, the ‘CIO’ has been synonymous with strategic asset allocations, but in a world refined by government policy uncertainties and growing retirement planning complexities, the ‘CIO’ acronym is evolving, writes Generation Life’s Vincent Stranges. Today’s ‘CIO’, increasingly is a reference to the Chief Interpretation Officer, and its financial advisers who are fulfilling this role, interpreting policy changes and complexities into clarity for their clients.
Shield, First Guardian reforms must not become a covert operation to restrict competition
There is broad consensus in industry and Canberra that the collapses of the Shield and First Guardian master funds – and failures that led to them – demand a regulatory response. But getting that response wrong could create an uneven playing field in the industry and some counterproductive consumer outcomes.
Netwealth rolls out changes to fine print in wake of Shield, First Guardian
Netwealth has updated its terms and conditions to allow it to directly correspond with clients without necessarily needing to inform the adviser or licensee and potentially limit user access. The move comes as part of the regulator-enforced governance uplift across the platform sector in the aftermath of the collapse of the Shield and First Guardian master funds.
Apt Wealth looks internally for growth with the ‘right’ capital sources
National financial advice firm Apt Wealth is looking for the next stage of its growth, one that involves using capital sources that share a long-term, multi-generational vision. Having just added several new equity partners who have built their careers at the company, CEO Andrew Dunbar says he knows he’s partnering with people who share the same values and vision for the firm.
Looking beyond super for certainty in an uncertain environment
Ongoing changes to superannuation policy are shaping behaviours, not just sentiment. In response, a growing number of advisers are directing high-net-worth clients toward non-super assets and different investment structures to achieve greater rule certainty.
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SMSF establishment needs justification beyond ‘generic’ client statements: AFCA
The nation’s financial services dispute resolution service has made clear that justifying the establishment of an SMSF requires more than just vague indications from clients that they want more control of their super.
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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