KPMG’s wealth management partner, Paul Howes says the de-accumulation stage is being given too little attention, warning industry superannuation funds against letting inflow surges distract from addressing the systemic issues raised by the royal commission.
Super industry bodies cite concerns about how top products are selected and restrictions on competition as Productivity Commission tables final report.
Financial advisers are on notice to understand ASIC’s new fee disclosure regime, so they can advise clients about value-for-money funds and abide by the best-interests duty.
IOOF has named a chair and acting chief, and split its super trustee business from its funds management operations as part of a sweeping action plan drawn up with APRA.
Since news of the multiple APRA actions on Friday, ANZ said it was “assessing its options” in relation to its October 2017 sale of OnePath Pensions and Investments business to IOOF.