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.
Why advisers are ditching big firms for more personalised client service
Shaw and Partners has grown from 100 advisers and $4 billion under management in 2015 to more than 200 advisers and more than $50 billion today. Head of private wealth Chris Smith explains why advisers are leaving bigger firms and what’s driving demand for broader wealth advice.
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.
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.
Big data could help predict the next big advice ‘calamity’
FAAA chief executive officer Sarah Abood wants technology to be used to head off the next disaster in the financial advice space. Predictive models offer the opportunity to use data to detect and prevent the next collapse.
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.
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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.
The ‘kids’ inheriting older clients’ wealth might soon be retirees themselves
The conventional wisdom that the kids of advisers’ oldest clients stand to inherit their wealth might be overlooking the fact that by the time it happens these “kids” are likely to be near or in retirement themselves. The 2026 Generational Report suggests that advisers and businesses looking for a client refresh could be better off focusing on the grandchildren.
AI boom to drive long-term growth, but it won’t be linear
AI-related technology stocks have enjoyed a meteoric rise over the past three and half years, leading to questions about the sustainability of the AI cycle and the best way for investors to tap into the growth opportunity.
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.
Clients’ prolonged ‘frailty years’ is a risk advisers must consider
Data shows that older Australians are spending a larger share of retirement with severe disability. In the final decade of retirement, people are less concerned about maintaining a comfortable lifestyle and more concerned about losing independence and becoming a burden on family, yet traditional retirement planning does not adequately manage this risk, writes Assyat David, director of Aged Care Steps.
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