Looking beyond remuneration to find the best talent
Remuneration will always be a leading factor when it comes to hiring, but the best quality candidates will value other benefits, not just their take home pay. For practices looking to replace talent or expand its presence, there is work in not only establishing a strong employee value proposition, but how that is articulated to potential candidates.
May 13, 2024
Adviser-built portfolio FUA explodes, but fewer take DIY route
Research has found that the average FUA in portfolios constructed mostly or entirely by advisers themselves has grown dramatically since 2018, but the number of advisers building portfolios themselves has almost halved. The fastest growth in adviser portfolio construction is in the use of off-the-shelf solutions.
May 13, 2024
FAAA calls for CSLR cost management in budget wishlist
The Financial Advice Association has called on the Federal Government to better manage costs across the Compensation Scheme of Last Resort and implement a fairer ASIC funding levy for advisers ahead of the Tuesday budget.
May 13, 2024
Iress to strengthen security protocols after GitHub breach
Iress has advised that on Saturday 11 May 2024 it detected and contained an unauthorised accessing of Iress’ user space on GitHub, a third-party code repository platform which manages software code before it goes live in production on a separate platform.
May 13, 2024
REST calls for better super treatment for young workers
Retail workers industry fund REST has urged the Australian Government to remove a rule that prevents most workers under-18 years old from earning any superannuation after research showed that the majority of Australians supported the change.
May 13, 2024
CSLR costs spiralling out of control: FAAA
The Financial Advice Association has called on Minister for Financial Services Stephen Jones to take action on the escalating costs of the Compensation Scheme of Last Resort.
May 10, 2024
WT expects adviser increases but practice consolidation
With advice practices seeking to leverage the benefits of scale, WT Financial Group managing director Keith Cullen expects his own advice network to grow in adviser numbers but with 40 per cent practices over the next few years.
May 10, 2024
FSC calls on government to fix super advice fees legal debacle
After bolstering its ranks with the addition of a number of licensees and digital advice firms to its membership, the Financial Services Council has called on the government to fix the Delivering Better Financial Outcomes package, arguing the bill should specify it is not a requirement for funds to check every Statement of Advice.
May 10, 2024
Super for house deposit scheme to taxpayers billions: SMC
Allowing young Australians to tap into their super for a house purchase could cost taxpayers billions (even potentially a trillion) of dollars by the end of the century, a new modelling by Super Members Council shows.
May 09, 2024
The advice was fine, but ASIC wants super funds to do more checks
The corporate regulator has criticised super funds for a lack of oversight of advice fee deductions, despite its own review finding 94 per cent of the advice sampled had no adverse consequences for members. The findings come amid industry debate over the Delivering Better Financial Outcomes bill and how much due diligence trustees will be required to conduct.
May 09, 2024
ASIC reports overlooks value of advice
A case study in a report from the corporate regulator on trustee oversight of advice fees has made a peculiar assumption – that trustees can predict whether advice will have a positive impact over the succeeding decades, Simon Hoyle writes.
May 09, 2024
Expect spike in tech costs next financial year
Advice firms are being warned technology and employee costs will rise considerably next financial year. It comes amid an inflationary environment which has seen all businesses increase prices to cover costs and an advice tech sector that has been giving favourable deals in an oversaturated market.
May 08, 2024
