Industry Updates

REST names Scott Tully as product head

REST has appointed Scott Tully as general manager of product in a bid to enhance the fund’s member offers.  

Kaplan launches new financial services postgrad course

Kaplan Professional has launched a Master of Financial Services education course. 

Australian women vulnerable to TPD impact: MLC study

Nearly half of Australian workers have three months' or less savings in the event of a disability which prevents them from working, and almost a third of women only having one month of savings, MLC Life Insurance research finds.

AustralianSuper commits $35b UK investment by 2030

AustralianSuper is set to increase its investment portfolio in the UK to more than £18 billion ($35 billion) by the end of the decade. 

AMP-authorised firm joins Count

Melbourne-based advisory business Tailored Lifetime Solutions has joined Count’s advice network, leaving AMP Financial Planning.  

UniSuper, ISPT acquire Western Sydney logistics site

UniSuper has invested in a 280-hectare greenfield logistics development site near the new Western Sydney International Airport (WSA). 

Australians willing to pay $800 for retirement income advice

Cost remains a key barrier to Australians receiving financial advice, according to research from Investment Trends. But even with potential efficiency gains and red tape reduction from the Quality of Advice Review, consumers considering advice are only willing to pay $800 to start a retirement income stream.

Diverger partners with e-signing company

Diverger has partnered with Australian company Annature to deliver e-signing solutions for financial advisers and accountants in its network.  

‘Fight tooth and nail’: Coalition appoints super warrior as shadow minister

Opposition leader Peter Dutton has belatedly named a Shadow Minister for Financial Services and Superannuation after an almost 12-month vacancy in the portfolio. Luke Howarth, a judo black belt and SMSF advocate, has long sung from the Liberal hymn sheet of a flexible super system and is expected to play an aggressive form of politics in his contested new portfolio ahead of the election.

Adviser Ratings JV looks to address imbalanced PI market

Amid rising PI insurance costs in a depleted market, Numerisk has entered a joint venture with Adviser Ratings to use its Adviser Quality Score data to better improve pricing and conditions for high quality, professional practices. The system will focus solely on adviser quality and not the licensing model they fall under.

ASIC succeeds in decade old conflicted rem case

The corporate regulator has received a win in Federal Court, which ruled licensee RM Capital failed to take reasonable steps to ensure its authorised representative the SMSF Club did not accept conflicted remuneration. The court found that SMSF Club advised its clients to set up SMSFs to buy property marketed while receiving $5000 for every referral.

In Focus: Building a trusted community for businesses wanting to regain control

Self-licensing is a powerful value-add for advice practices that want to control their own destiny, but it can come with the downside of isolation. Civitas Services, who take their name from the Latin word for community, believe in partnering with high-performing, professional practices to drive a community spirit for self-licensed advisers.

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