FAAA open to adding qualified advisers to membership
The Financial Advice Association will keep an open mind about allowing so-called qualified advisers to join the association, with some current members wanting to ensure this new category of “adviser” is further integrated into the professional advice ecosystem. However, the association won’t firmly commit to this until it sees draft legislation, which it expects mid-year.
May 03, 2024
Govt implements 13 changes from ALRC report
Universal acceptance there are issues with the Corporations Act 2001 has prompted a radical overhaul now underway. There will be a gradual restructuring of the provisions recommended, and a review every decade to ensure that the reforms are fit for purpose.
May 02, 2024
Advisers need a plan to deal with a $5t transfer of wealth
Financial advisers won’t automatically benefit from a looming intergenerational transfer of almost $5 trillion wealth. They need a plan and a strategy to engage with existing clients and their children.
May 02, 2024
Vanguard Super cuts fees
Vanguard Super has reduced its annual administration fees from 0.35 per cent p.a. to 0.33 per cent p.a. with the administration fee cap lowered from $850,000 to $300,000.
May 01, 2024
Qantas Super commits $200m to agriculture play
Qantas Super has committed $200 million with agriculture investor GO.FARM to transform underutilised agricultural land into horticultural projects in NSW’s Riverina, northern Victoria and other parts of Australia.
May 01, 2024
Super fund consultants argue QAR super fees criticism misplaced
Criticisms of how trustees will be required to monitor certain conditions before a member’s account can be charged for advice are overblown, a pair of consultants to funds believe. They argue the Quality of Advice Review legislative changes remove ambiguity in the SIS Act and don’t add any new obligations to funds.
April 30, 2024
Reframing insurance as an investment in financial security
Australians don’t think of insurance as an investment, viewing it a secondary measure of financial security behind saving and investing, according to research from Investment Trends. The research found consumers will prioritise branding over premium costs or advice services, justifying insurers’ large marketing budgets in a tight cost of living environment for consumers.
April 30, 2024
FAAA releases draft policy platform for member consultation
The Financial Advice Association launched its draft policy platform for member consultation.
April 30, 2024
CSIRO and Alphinity release responsible AI framework
Alphinity Investment Management and Australians national science agency CSIRO have released a responsible AI (RAI) framework and toolkit for financial services.
April 30, 2024
Two-thirds of Australians underwhelmed by super balances: ART
Research from Australian Retirement Trust has found 67 per cent of Australians don’t feel their superannuation balance is in a good position for their age.
April 30, 2024
