DBFO Tranche 2 will be like the first tranche ‘on steroids’
The second tranche of advice reforms is headed for similar levels of contention and chaos as the first tranche, the Professional Planner Shape of Advice podcast has heard. But while many may be frustrated by the slow pace of legislative change, Financial Services Council CEO Blake Briggs says the government was right to consult so thoroughly.
August 27, 2024
CSC to supercharge advice in the new financial year
The Commonwealth Superannuation Corporation has conceded it’s “not as advanced” as many of its peers when it comes to working with external advisers as it aims to revamp its advice framework this financial year to support its recently launched Retirement Income Strategy.
August 27, 2024
Sequoia says Libertas criticism a matter for policymakers
Libertas has become the latest warning sign over misuse of the Compensation Scheme of Last Resort, with the Financial Advice Association calling for loopholes to be closed. Garry Crole, CEO of Libertas’ former parent company Sequoia, has deflected criticism of his firm’s actions saying any judgement should be directed to the drafters of the scheme.
August 26, 2024
State Street Global Advisors invests in fintech Raiz
Asset manager State Street Global Advisors has agreed to acquire five percent equity of fintech platform Raiz.
August 26, 2024
CALI opens grant program for female risk advisers
The Council of Australian Life Insurers has opened applications for its annual ReCALIbrate program, designed to support women who are risk advisers in the industry.
August 26, 2024
Vale Greg Bright, father of Australia’s financial trade press
Veteran journalist, publisher and entrepreneur Greg Bright has died aged 70. Bright was a founder of Conexus Financial, publisher of Investment Magazine, Professional Planner and Top1000funds.com. He also created and managed a range of other titles in a career spanning more than four decades.
August 26, 2024
BUSSQ seeks judicial review of APRA action over CFMEU
Queensland-based super fund BUSSQ has sought a judicial review in the federal court regarding APRA’s recent decision to impose additional licence conditions on the fund.
August 23, 2024
AMP chief claims no further ‘divestments’ planned
AMP chief executive Alexis George has rejected any suggestion of further “divestment plans” following the sell-down of its financial advice businesses earlier this month. George tells Professional Planner (and a sceptical market) that the remaining super, platform, banking and New Zealand businesses are showing promising signs of growth.
August 23, 2024
‘See them through their life’s journey’: Why BFG prefers younger clients
A vision more than three decades ago led to the establishment of a boutique advice firm that stood out from the pack by serving the needs of a younger clientele, going against the grain of an industry that focused on higher balance, pre-retirees.
August 23, 2024
ASIC wins case against Kraken crypto exchange operator Bit Trade
The Federal Court has ruled Bit Trade, operator of Kraken crypto exchange in Australia, failed to comply with Design and Distribution Obligation requirements when offering a margin trading product.
August 23, 2024
Why getting Tranche 2 of DBFO right is so important
Colonial First State CEO, superannuation, Kelly Power and Financial Services Council CEO Blake Briggs talk to Conexus Financial editor-in-chief Aleks Vickovich about the road to completing advice reform, after the first tranche of legislation was plagued by ferocious debate and a series of drafting errors.
August 23, 2024
Allianz study reveals three-quarters of retirees open to work
A study by Allianz has unveiled more than 75 per cent of retirees and pre-retirees are open to employment post-retirement.
August 23, 2024
