Vanguard Super announces Duffield departure from board
Vanguard Super (VSPL) has announced that Jeremy Duffield has departed the VSPL Trustee Board, where he was a director.
August 15, 2024
Super funds, not advisers, on the hook for retirement: APRA
The prudential regulator has made clear to a room full of the biggest super funds in the country that they are obligated to have a strategy that works for all members from high-net-worth to low balance members. The message to the Conexus Retirement Conference was simple: outsourcing to external advisers will not fulfill their Retirement Income Covenant obligations.
August 14, 2024
Trustee boards must have retirement expertise: ASIC
ASIC Commissioner Simone Constant says super fund trustee boards, and not just management, must be held accountable for helping members transition to retirement and therefore must have the requisite skills. The comments to the Conexus Retirement Conference came as the regulator urged the super sector to view their members as “customers” instead.
August 14, 2024
Dixon saga shows why we needed Code of Ethics
Dixon Advisory advisers might have escaped scrutiny for giving conflicted advice that wasn’t in the best interests of clients, but Simon Hoyle writes that in the era of the Code of Ethics this scenario could’ve played out differently.
August 13, 2024
Coalition plans to ‘shred’ new ethical obligations for tax advisers
Eight new ethical obligations for tax and financial advisers to be introduced by the Albanese government will be opposed in the Senate by the Coalition. Industry bodies say the obligations, contained in a determination issued by Minister for Financial Services Stephen Jones, conflict with advisers’ existing obligations, and will increase red tape and costs.
August 13, 2024
Netwealth profit jumps 24 per cent
Netwealth has posted a $83.4 million net profit after tax for FY24, an increase of 24.1 per cent compared to FY23.
August 13, 2024
Legal expert opinion finds s99FA still ‘problematic’
Top barrister Bernard Quinn KC, who led a high-profile investigation into racism in the AFL, says section 99FA of the SIS Act as amended by the government in its Delivering Better Financial Outcomes bill just pays lip service to the recommendations of the Quality of Advice Review. Despite claims to the contrary, super funds may still take a “conservative” approach and check every statement of advice before allowing fee deductions.
August 12, 2024
‘Proving what’s possible’: WT boasts over 50pc profit increase
As licensees jockey to generate profitable businesses, WT Financial Group may have handed out a blueprint. The company has an announced an indicative net profit before tax increase of 51.4 per cent and will distribute its first dividend in seven years.
August 12, 2024
Maintaining client confidence during market downturns
A confident adviser can help clients with worries and concerns not make rash decisions during uncertain times. How those conversations take place is an essential part of the value proposition planners offer.
August 09, 2024
After 175 years, AMP bids emotional farewell to advice
In its 175-year history, there’s scarcely been a time when AMP hasn’t been a major player in financial advice in Australia, but Simon Hoyle writes the departure of the last institutional player symbolises the new era of advice.
August 08, 2024
