SMC apologises for ‘dodgy advisers’ comment
The Super Members Council has offered an open apology to the advice profession, saying CEO Misha Schubert’s comments about “dodgy advisers” has been mischaracterised. The statement comes a day after the reference was mentioned on several instances during Senate hearings on the Delivering Better Financial Outcomes bill.
June 14, 2024
Why conventional regulation doesn’t work
Lowering the cost of advice and increasing professional trust are key objectives for the financial advice profession, but they are unlikely to be achieved if the industry continues to be regulated as it has been for the last fifty years, writes Robert MC Brown.
June 14, 2024
SMC calls for calm in DBFO debate after blasting ‘dodgy advisers’
After calling out “dodgy advisers” this week, Super Members Council CEO Misha Schubert said “cool heads need to prevail” amid criticism of changes to the law around oversight of deduction of advice fees from super fund accounts in the Delivering Better Financial Outcomes bill.
June 13, 2024
Treasury takes fall for DBFO drafting errors
Drafting errors in the Delivering Better Financial Outcomes bill were not of the government’s making, according to Treasury. And despite the corporate regulator reviewing the legislation before it was tabled in Parliament, ASIC only became aware of drafting problems after reading reports in the media.
June 13, 2024
Super lobby shatters fragile truce with advisers
On the eve of an important parliamentary hearing on the Delivering Better Financial Outcomes bill, the Super Members Council has thrown a grenade into the financial advice reform process. Aleks Vickovich writes CEO Misha Schubert’s misjudged and very public reference to “dodgy advisers” will trigger some post-traumatic stress in the profession.
June 12, 2024
How factors became investors’ ‘go-to’ source of returns
Style factors such as quality and value may have fallen out of favour during the ‘easy money’ period of the pre-pandemic era, but in today’s ‘higher for longer’ inflation and interest rate environment, investors have returned their focus back toward investment fundamentals when it comes to boosting portfolio performance.
June 12, 2024
Getting the most value for money
A tilt towards undervalued companies as part of a diversified portfolio can improve risk-adjusted returns for clients in the long term. The challenge for advisers is finding data-driven, cost-efficient value strategies that don’t forego investment quality.
June 12, 2024
Building on momentum in portfolios
Momentum investing seeks to increase exposure to companies that are outperforming over the last 12 months, while decreasing exposure to underperformers. Momentum investing has been a persistent and historically rewarded factor, but like all investments, advisers will still need to weigh up risk vs reward.
June 12, 2024
Vanguard shifts to adviser drive on super product
With its adviser portal live, Vanguard Super now reaches more than 116 licensees covering more than 3000 advisers. Australia head Daniel Shrimski believes they have the “superior” product to industry funds that doesn’t have the “complexity and cost” of wrap products, but still believes there are internal improvements to be made.
June 11, 2024
Government launches consultation on DBFO draft regs
The government has launched a consultation on the first tranche of draft regulations for the Delivering Better Financial Outcomes bill.
June 11, 2024
