Platform governance a regulatory blind spot, warns think-tank
Platform governance requirements are not well-defined by legislation or by APRA, creating ambiguity in the regulatory regime, The Conexus Institute has argued. The addition of more regulation may not help either, as that may drive clients to less-regulated parts of the market.
HUB24 stands by governance process as APRA adds licence conditions on its trustee
HUB24 anticipated that increased licence conditions were coming for the trustee of its superannuation funds, HTFS Nominees, following regulatory intervention against HTFS stablemate Equity Trustees. HUB24, which is in the process of acquiring HTFS from EQT Holdings, says it stands by its investment governance and monitoring process.
AIOFP picks DASH for white label platform after InterPrac platform blacklists
The Association of Independently Owned Financial Professionals has selected DASH as the platform partner for its white label platform after InterPrac Financial Planning advisers faced industry blacklists from major providers. The association is considering plans to use the profits from the platform to create an “adviser defence fund”.
Centrepoint expands Queensland presence with dual acquisitions
Centrepoint Alliance will acquire client books and salaried advisers from Queensland financial advice firms Cairns Wealth and Pinnacle Wealth from Astute Financial Management, expanding its salaried advice business.
ASIC likely to act on InterPrac over AFCA determination payment delays
The corporate regulator has criticised the “deeply disappointing approach” InterPrac has taken with its lawsuit against AFCA and is considering next steps against the licensee for unpaid determinations. ASIC is also concerned about how the legal action may disincentivise further complaints from Shield and First Guardian investors.
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.
ASIC sues Equity Trustees for First Guardian due diligence failures
Equity Trustees has argued it’s a victim of the $1 billion Shield and First Guardian collapse and that the funds fraudulently passed due diligence. But ASIC’s latest court proceedings against the trustee allege it was required to investigate any fraud-related risks.
When scaling up is the right path for your practice
Smaller businesses aspire to scale up and corporatise, but corporatisation isn’t for everyone. AZ NGA chief operating officer Nathan Jacobsen writes for those looking to make the transition, it has the power to transform businesses, accelerate growth, and reward business owners.
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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Your guide to investment innovation
Australia’s great wealth transfer is accelerating as baby boomers age, driving demand for multi-generational advice spanning succession, estate planning, philanthropy and complex family dynamics. This guide explores the growing opportunity for advisers to support wealthy families with long-term, independent strategies.
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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