Everyone thought we were mad: Aspire celebrates 20 years going fees for service
20 years ago, Olivia Maragna and her husband made the bold choice to go fee for service from day one, at a time when commissions dominated the financial advice industry. Looking back on the journey, Maragna says the ambitious call paid off.
June 18, 2024
TAL appoints successor to Brett Clark
Life insurer TAL has appointed Fiona Macgregor as the new group CEO and managing director, filling in the position made empty by Brett Clark's promotion to CEO and managing director of Dai-ichi Life Group, TAL’s parent company.
June 18, 2024
Cbus appoints chief risk officer
Cbus Super has appointed Martha Georgiou as chief risk officer.
June 18, 2024
Younger Australians anticipate paying off mortgage in retirement
Almost a third of working Australians expect to still be paying a mortgage in retirement, according to research from Vanguard Australia. The research shows that while Australians are fairly confident about owning their own home, a significant portion believe they will rely on superannuation money to either cover the final years of a mortgage or to pay it off with a lump sum.
June 17, 2024
Lowering the cost of advice without the DBFO reforms
As doubts creep in as to whether the Delivering Better Financial Outcomes reforms will lower the cost of advice, some advisers are looking to other ways to help reduce business expenses.
June 17, 2024
Singaporean sovereign fund invests in Betashares
Singapore-headquartered Temasek entered a binding agreement with Australian ETF provider Betashares to invest up to $300 million.
June 17, 2024
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
