Budget amendments could spell the end to SMSF property spruikers
SMSF property spruikers will see their business model shaken up as the government moves to end the ability for a trustee to borrow money for residential housing. The Greens secured an amendment to the government’s tax changes proposed in the May federal budget that would end the use of limited recourse borrowing arrangements for residential property.
Shield and First Guardian AFCA complaints almost 3500 amid awareness drive
AFCA complaints about Shield and First Guardian have reached 3429 as ASIC has spent the past few weeks catching the attention of investors who are unaware they may have been invested in the schemes.
AFCA halts InterPrac determinations amid court battle
The Australian Financial Complaints Authority has halted its work on completing InterPrac Financial Planning determinations while it manages court proceedings brought on by the licensee, which accused the complaints authority of lacking “fairness” by not apportioning blame across the system.
PictureWealth becomes mega-licensee with Capstone takeover
PictureWealth continues to evolve from its fintech heritage with the acquisition of Capstone Financial Planning, turning it into a licensee owner with scale. CEO Allan Maitland tells Professional Planner the group still has the desire for further M&A.
Licensees need to be ‘front and centre’ on data
As debate over who “owns” client data rages on, licensees should be entitled to controlling platform data as they are ultimately responsible for governance of advice by network operators, the Professional Planner Licensee Summit heard.
What a brief encounter with Elon Musk taught me about the limits of capitalism
A brief encounter with Elon Musk in 2013 showed that he would not flinch at rolling the dice, writes Conexus Financial founder and managing director Colin Tate AM. But SpaceX’s mega-IPO demonstrates that citizens, regulators, capital allocators and advisers need to decide whether they are comfortable with who is holding those dice.
The unsupervised hire: Getting the best from agentic AI
Every adviser conference is talking about it and every vendor is selling it, and the opportunity for practices to use agentic AI is real, writes Michael Connory. But the questions you ask before you sign matter more than the vendor’s slide deck.
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.
Tech migration lingers on comprehensive BDM support
Advice practices aren’t always satisfied with their tech providers, but are often hesitant to move because a poor onboarding process can create further issues if staff aren’t properly trained in the new system. According to a panel, BDM support should be an essential part of any tech migration.
Mega themes, mega companies: The trillion-dollar thesis
The world’s largest companies aren’t just dominant because of their size – they’re also the primary vehicles for the structural themes reshaping economies, from artificial intelligence to cyber security and defence.
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.
Why advice is critical to delivering member outcomes in retirement
Dissatisfied superannuation fund members are voting with their feet in search of greater flexibility, control and better service. Member movement is high, based on research by The Conexus Institute, but it’s not sinister, despite how it is being framed by some corners. At the Professional Planner roundtable on superannuation, choice and the advice profession, produced in partnership with The Conexus Institute and sponsored by HUB24, advice leaders explored the complex fiduciary decision-making required for superannuation and retirement advice.
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.
SMSF