‘Fast-track’ QAR reforms, new chief super lobbyist tells govt
Misha Schubert, the inaugural CEO of the new Super Members Council, has called on the Albanese government to expedite its response to the Quality of Advice Review and says her members want to provide more “low and no cost advice” to millions of Australian workers. Drafting errors plaguing the legislative process so far can be swiftly resolved, she says, and “cool heads” should prevail.
April 11, 2024
Court fines ‘licensee for hire’ Lanterne $1.25m
Lanterne Fund Services has been ordered to pay a $1.25 million fine after the Federal Court ruled the AFSL failed in its obligations to have sufficient processes in place as a licensee. The court took mercy after the group took steps to remediate process, leading to a smaller penalty than the regulator initially sought.
April 11, 2024
ASFA appoints head of policy and advocacy
ASFA has appointed James Koval as its head of policy and advocacy in a newly created role.
April 11, 2024
Playing with the boundaries of financial advice
The thought of delivering financial advice the same way that every other advice firm does it simply horrified Kearney Group CEO Paul Kearney. Instead, he embarked on a bold plan to re-engineer his advice firm and now, around two years later, it’s beginning to bear fruit. Where it goes next is anyone’s guess, but it won’t follow a traditional growth path.
April 10, 2024
To solve the longevity puzzle, turn to the professionals
Retirement is complicated, it frequently doesn’t happen the way we plan or wish, and more people every day are facing the transition from employment to retirement, Simon Hoyle writes. Super funds themselves can’t get financial advice to every member who needs it, so the role of professional advisers is critical.
April 10, 2024
Life Code breaches increase for third consecutive year
Total breaches of code obligations have increased for a third consecutive year according to the latest report released by the Life Code Compliance Committee (Life CCC).
April 09, 2024
Mayfair 101 director arrested and charged with dishonest conduct
Mayfair 101 director James Mawhinney has been arrested and charged with four counts of engaging in dishonest conduct in the course of carrying on a financial services business.
April 09, 2024
Advisers vs. super in battle for retirement income
Superannuation funds face losing members if they don't come up with better retirement income solutions and it's financial advisers who could tempt them to greener pastures if they don't lift their game, Simon Hoyle writes.
April 09, 2024
Warnings raised over ‘proliferation’ of unlicensed aged-care advice
Aged Care Steps is pushing for industry feedback to develop a policy framework for regulating aged care advice. The service provider argues the current landscape has led to a prevalence of unlicensed advice in aged care funding decisions.
April 09, 2024
REST invests in industrial property impact fund
Retail workers fund REST has made an impact investment in industrial property via Fidelity’s real estate logistics impact climate solitons fund (LOGICs).
April 09, 2024
Super lobby MIA as JAWG warns of fee deductions ‘hot mess’
The peak bodies for super funds are seemingly unfazed over unchanged provisions relating to how trustees can deduct advice fees from member accounts, despite warnings from the Joint Associations Working Group that the government is only worsening the “hot mess” it promised to fix.
April 08, 2024
