‘Lots of little things’ to make a big difference for Godfrey Pembroke
As the fiercely independently minded Godfrey Pembroke licensee emerges from the institutional ownership of Insignia Financial, Practice Development Group head Trevor Bransdon says the licensee is relishing a future determined by advisers, for advisers.
June 04, 2024
FAAA twists qualified adviser standard to set up holistic adviser pathway
The Financial Advice Association will recommend qualified advisers hold a Graduate Certificate, a level higher than a Bachelor’s Degree. The association argues those without a degree will still be able to leverage existing work experience to qualify for courses and a grad certificate creates an easier pathway to completing the education standard.
June 03, 2024
Lonsec claims it will maintain independence with GDG takeover
Lonsec will remain a standalone business following its takeover by Generation Development Group and the researcher will discontinue further ratings of GDG products. Michael Wright will stay on as Lonsec CEO and tells Professional Planner the deeper pockets of an ASX-listed owner will help the researcher grow.
June 03, 2024
Retirees keen to support children, but not at the cost of their lifestyle
More than two in three Australians aged 65 and over said they were unwilling to compromise their retirement lifestyle to provide financial assistance for their children, according to a AMP research.
June 03, 2024
Super Members Council appoints inaugural chair
The Super Members Council has appointed business leader Ann Sherry as its chair, replacing interim chair Nicola Roxon who will continue to serve on the SMC board as a nominee of HESTA.
June 03, 2024
HESTA sees increasing member interest in digital tools
Health industry fund HESTA said its members are increasingly adopting digital tools for retirement planning purposes.
June 03, 2024
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
