Industry
Advice demand doubles in 5 years
Latest studies reveal that the need for advice has surged in the last few years, while existing clients are clamouring for engagement from their financial advisers.
Tahn SharpeSeptember 17, 2020
Tahn Sharpe
Tahn Sharpe is a Sydney-based financial services journalist with a background in financial planning. He writes on advice, superannuation, investment, banking and insurance issues, is a certified SMSF Adviser and holds an Advanced Diploma of Financial Planning. Contact at [email protected]
Advice
Clitheroe flags advice gap
Consumer finance expert Paul Clitheroe, FPA chair Marisa Broome and CHOICE CEO Alan Kirkland highlighted the importance of financial planning and lamented cost burdens that kept ordinary Australians out of the advice system.
Tahn SharpeSeptember 16, 2020
Industry
Crowded platform market ripe for consolidation
The investment platform market looks due for adjustment as adviser numbers dwindle and more competitors jostle for a seat at the table. A wave of M&A activity and a race for operational scale could be required before the sector’s bright future is fully realised.
Tahn SharpeSeptember 16, 2020
Professional Standards
Harry Baker, the professional year pioneer
As the first to make it through FASEA’s 1600-hour training mandate for new advisers, Harry Baker represents a glimmer of hope for an industry that is desperate to attract a new generation of participants.
Tahn SharpeSeptember 14, 2020
Regulation
Court slaps $50M fine on MLC trustee
In ASIC's largest ever civil action, MLC Nominees and Nulis Nominees have been lumped with a combined $57.5 million worth of penalties after they duped hundreds of thousands of superannuation members into paying for advice that wasn't provided.
Tahn SharpeSeptember 14, 2020
Industry
IOOF’s Whereat: ‘We’re not arrogant enough to think we’ll get everybody across’
Darren Whereat reveals IOOF’s pitch to MLC advisers and explains where the group sits on conflicts, compliance and culture. The head of advice is nothing if not forthright. “Don’t guild the lily and don’t put any fluff around it,’ he says. “Tell it like it is.”
Tahn SharpeSeptember 11, 2020
Industry
AMP brings in the culture consultants
Under pressure to make changes to its cultural settings, AMP has brought in diversity consultant Symmetra to conduct an objective review of conduct, policies, leadership and behaviour.
Tahn SharpeSeptember 11, 2020
Investment
Aussie millennials leading pandemic investment surge
An opportunistic mindset is seeing Aussies aged between 24 and 39 turn to investing during the pandemic era, reflecting a global trend for younger investors to take advantage of current volatility.
Tahn SharpeSeptember 10, 2020