Insignia’s advice profit overshadowed by $185m group loss
Insignia says its advice division has reached profitability despite the overall group announcing heavy one-off losses that were foreshadowed last month. CEO Scott Hartley tells Professional Planner cost reductions have driven improvements for advice.
August 22, 2024
Industry welcomes paid parental leave super contribution bill
Major super funds and industry peak bodies have welcomed the introduction of the Paid Parental Leave Amendment (Adding Superannuation for a More Secure Retirement) Bill 2024 into Parliament.
August 22, 2024
Seeing that your clients catch your drift
Advisers need to ensure they are on the same page as their clients to prevent information being misconstrued, according to a strategies summit. To do so, advisers must observe how their clients receive information.
August 22, 2024
ASIC places offshoring and AI in advice under magnifying glass
ASIC will be scrutinising adviser use of offshoring and how licensees have been utilising AI as part of its corporate plan for the next financial year. Additionally, there will be more targeting of surveillance of practices that don’t make any breach reports.
August 22, 2024
SMSF Association appoints policy manager
The SMSF Association has appointed Keddie Waller as policy manager to bolster its advocacy and policy work for government reforms impacting the SMSF sector.
August 21, 2024
REST changes investment menu
Industry fund REST has reduced the number of options from 15 to 9 on its investment menu.
August 21, 2024
Former ART chief Bernard Reilly to lead Perpetual
Former Australian Retirement Trust chief executive Bernard Reilly has been appointed as CEO and managing director of Australian fund manager Perpetual, effective 2 September, the asset manager said in an ASX announcement.
August 21, 2024
What advisers want (from their licensees)
You can satisfy some advisers all of the time, and all advisers some of the time. But the latest CoreData research suggests Count has pulled off the feat of satisfying almost all of its advisers all of the time. It’s done this while integrating two acquisitions and managing three distinct communities of advisers under the one roof.
August 20, 2024
HUB24 sees margin crunch amid continued investment
Platform provider HUB24 has identified improved profit margins as a strategic priority for the next financial year, after making on loss-leading acquisitions that it aims to bring to breakeven. The initiative coincides with the goal to reach $115 billion on the platform over the next two years, which will almost close the gap to the institutional players that once dominated the space.
August 20, 2024
Iress sees profit lift after contentious pricing reset
Xplan owner Iress has revealed a stronger profit margin in its wealth division, working to increase revenue by resetting long-standing pricing arrangements and reducing operating expenses. The adviser software provider has moved to a “fairer and more equitable” pricing model rather than an unwieldy model of unique arrangements.
August 19, 2024
Libertas becomes first AFSL cancelled due to CSLR claim
Libertas Financial Planning is the first AFSL to be cancelled by the regulator due to an unpaid determination that has gone to the Compensation Scheme of Last Resort, further highlighting a glaring loophole that has plagued the design of the scheme.
August 19, 2024
