Advice is the number one weapon against retirees’ FORO
The problem of retirees not drawing down enough of their retirement savings for fear of running out appeared front-and-centre at a recent superannuation industry roundtable. But it’s not a new issue for advisers, and the CoreData/Conexus Financial Best Possible Retirement study shows just why access to advice is “the single clearest lever for improving retirement readiness”.
Sharpe era over with deputy elected to be next FAAA chair
Financial Advice Association Australia deputy chair Michelle Veitch will succeed David Sharpe as chair, closing a tenure that included the association’s merger, as well as navigating key regulatory changes including advice reform and the Compensation Scheme of Last Resort.
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.
Platform clampdown must not be used to support argument against advice
Quality of Advice Review lead Michelle Levy understood that accountability belongs with the licensee. Parliament should finish the job before duplicated supervision becomes an excuse to restrict lawful advice and member choice, writes WT’s Keith Cullen.
Entireti appoints new chair
Industry veteran Geoff Lloyd has added Australia’s largest licensee owner Entireti to his portfolio of chair roles, alongside Perpetual Wealth and Professional Planner publisher Conexus Financial. The appointment ends Fortnum founder Ray Miles’ tenure as chair after 17 years.
Requiring trustees and MISs to join CSLR is the only solution
Levying financial advisers for the Compensation Scheme of Last Resort was always an arbitrary decision, and unsustainable. Given the rapidly increasing cost pressures, the government should include platform trustees and managed investment schemes in future special levies.
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Accountants’ exemption a supply-side relief proposal, with baggage
As financial adviser numbers continue to languish, a proposal to resurrect an old idea has emerged. But the politics that led to its demise in the first place might be too much to overcome, even if it could form part of the advice supply-side solution.
Shield sent almost $65 million to lead generators
ASIC is suing directors and compliance committee members of the Shield Master Fund’s responsible entity, Keystone Asset Management, for misuse of investor money. Among the allegations is that the managers of the fund sent almost $65 million to lead generators.
Advice firms need 25pc annual fee rises to be sustainable: Peloton
Advice firms will need a 25 per cent increase in ongoing fees to sustain desirable shareholder returns, according to data and analysis from Peloton Partners. The findings come as the latest Adviser Ratings Landscape Report shows the average advice practice profit margin sits at 23.5 per cent.
Putting values at the heart of advice
When it comes to strategic advice, incorporating a client’s values is just as important as their circumstances, needs and goals, according to Russell Investments. Values can also be a core consideration when selecting investments to ensure alignment with portfolios and outcomes.
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.
Advisers sympathise with super members subject to poor service
Super Consumers Australia has called for improved member standards after its report found super funds are failing to answer members’ calls, with the nation’s largest fund AustralianSuper failing to answer 90 per cent of calls. But advisers who are familiar with the lacklustre service standards of industry funds also empathise with the challenge they have in delivering services with the lowest fees possible.
The biggest game in town: Inside AustralianSuper’s retirement income strategy
Since Jacki Ellis joined the nation’s biggest profit-to-member super fund as head of retirement just over one year ago, she’s been assessing and building the fund’s capabilities with the aim of delivering a fully personalised experience to all members by 2035. But that’s not to say there won’t be benefits for members who retire before that.
The ‘powerhouse’ women driving AZ NGA’s next growth phase
AZ NGA has grown into a $700 million behemoth under the leadership of co-founder and CEO Paul Barrett, who has become the public face of the group. But as the advice equity aggregator moves into its next phase of growth, it’s the counsel and experience of four key women that has become critical to driving the business forward.
Retirement