Industry Updates

Lessons on customer service from other industries

While some sectors have struggled with uplifting their customer service standards, there are still plenty of positive examples the advice profession can utilise to continue to grow, according to a pair of thought leaders in the space.

Resolution Life acquires Suncorp’s NZ insurance arm

Resolution Life has entered an agreement to acquire Suncorp Group’s New Zealand life insurance company Asteron Life for NZ$410 million ($375 million). 

QAR super fees debacle headed for Senate showdown

Aware Super has joined the chorus of voices raising concerns over the lack of clarity around trustee obligations in the Quality of Advice Review legislation, while licensee groups are expected to push for amendments in the Senate.

Aware chair resigns to become Governor-General

Chair of Aware Super, Sam Mostyn, has resigned her role at the helm of the $160 billion mega-fund after she was appointed Australia’s new Governor-General, succeeding David Hurley and becoming the second woman to serve as head of state. A prominent voice for gender equality, superannuation industry figures said millions of women are better off thanks to her advocacy.

BT appoints chief product officer

BT has appointed Annabelle Kline as chief product officer, where she will be responsible for leading BT’s platforms business. 

Advice tech intelliflo further integrates with research partners

Financial advice technology provider intelliflo has announced further integration with research providers Product Rex and Omnium.  

What went wrong with the QAR

We’ve only scratched the surface with draft legislation, writes Simon Hoyle, but what has been delivered so far is underwhelming the advice industry and super funds are left confused over their obligations. What was meant to be an easy fix has turned into a bigger mess.

Advice Academy launched to solve ‘big gnarly problem’

Kaplan Professional and the Financial Advice Association will launch the Advice Academy to set an industry standard for the Professional Year to help resource-strapped practices implement better PY programmes.

AZ NGA appoints executive general manager

AZ NGA has appointed Chesne Stafford to the newly created role of executive general manager.

Count picks up Insignia practice

Count has added advisory business Murray Nankivell to its network, having previously been licensed by Insignia-owned Australian financial services licensee Consultum.

Dixon dominates, but heavy admin costs weigh on CSLR

Roughly two-thirds of the CSLR adviser levy for FY25 will cover compensation costs with the rest covering operations across the scheme, AFCA and the corporate regulator. While the government will cover the cost of the scheme for the next three months, it will be the industry footing the bill from FY25.

ASIC wins first greenwashing case amid climate disclosure push

ASIC has scored its first win on the greenwashing front as the Federal Court ruled in its favour on Thursday that Vanguard Australia made “misleading claims” in one of its investment products. It came as the Labor government ramps up its legislative commitment to net zero action before the election.  

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