Esencia Wealth opens Sydney office post-merger
Financial advice firm Esencia Wealth has opened a new Sydney office at Governor Phillip Tower, following the merger of four advice businesses: Advise Wise, Insight Private Wealth, Sovereign Wealth Partners and Randle Advisory.
June 03, 2024
Smaller licensees no longer offer regulatory sanctuary
At the Professional Planner Licensee Summit on 18 June, ASIC Commissioner Alan Kirkland will tell attendees oversight of self-licensed practices is a top priority in the advice space. Research from CoreData suggests the regulator will have more resources freed up with the top end of town having drastically shrunk.
May 31, 2024
Regulators’ ‘bigger is better’ mantra creates moral hazard for super funds
A period of forced consolidation in the superannuation industry, led by regulators, will lead to a "too big to fail" culture, according to industry veteran and commentator Rob Prugue. As Australia’s retirement savings pool continues to balloon, the sector’s immense scale has created a moral hazard, he argued.
May 31, 2024
FAAA names winner of Gwen Fletcher Memorial Award
The Financial Advice Association has announced Nathan Purnell of SWA Financial Planning as the recipient of the Gwen Fletcher Memorial Award for the first semester of 2024.
May 31, 2024
Insurers urge sub-diploma level education for ‘qualified advisers’
The Council of Australian Life Insurers wants 'qualified advisers' employed by life insurers to need only a Certificate IV equivalent to provide advice. The suggestion falls short of expectations of at least a minimum diploma level education for this new second tier advice model after the Quality of Advice Review reforms.
May 30, 2024
Moving the dial on gender diversity
Promoting gender diversity is a big issue for financial services and despite the progress made so far, many are still characterised by finance stereotypes that can deter more diverse candidates from joining the sector. As a starting point for those looking to bring genuine change – be it internally or in the broader industry – difficult conversations must be had about how to eliminate “micro-exclusionary” events and recognise men and women’s different ways of working.
May 30, 2024
Building an all-weather portfolio with factor ETFs
Recent inflation spikes in the US and the escalation of conflict in the Middle East have underlined the fact that challenging market conditions may be here to stay in 2024. In this environment, we think it’s critical to remain nimble and dynamic when it comes to portfolio allocations – and factor investing can play a key role in helping investors to navigate market turbulence.
May 29, 2024
Using factor ETFs in client portfolios
Factor investing helps investors meet their objectives such as reducing risk, increasing returns and enhancing diversification by targeting styles with specific characteristics such as value, quality, minimum volatility and momentum. While factor investments can help advisers target specific needs in client portfolios, understanding the nuances of each factor is crucial.
May 29, 2024
Keeping quality the priority
Backed by strong balance sheets and solid earnings, quality investing involves holding high-calibre companies. Quality companies that aim to provide exposure to durable business models and sustainable competitive advantages are not easy to come by.
May 29, 2024
ASIC influence over DBFO advice fee deduction rules questioned
The corporate regulator is suspected of backing consumer groups in pushing for tougher trustee oversight of advice fee deductions from super funds, a contentious issue threatening to destroy the veneer of industry consensus over advice reform. ASIC has confirmed it has provided regular advice to Treasury on the QAR response project but has refused multiple times to release its formal recommendations.
May 28, 2024
