Super caps to increase in FY24
The Federal Government has confirmed increases in the standard concessional and non-concessional contributions caps for FY24.
February 22, 2024
‘Job is never done’: Mota’s parting advice to new Insignia boss
Outgoing Insignia Financial CEO Renato Mota has encouraged his successor, Scott Hartley, colleagues and the broader industry to continue trying to develop a mass-market financial advice model suitable for regular Australians. In a valedictory interview with Professional Planner, he said the monster acquisitions of ANZ and MLC were the “right thing to do” and questioned the economics of the traditional licensing model.
February 22, 2024
Coalition decries attacks on aspiration, but super tax change impacts few
The federal opposition has used the SMSF National Conference to ramp up its criticism of the government’s attack on “aspiration” via tax reform in the super sector, but research conducted by SMSF experts Heffron shows the most optimistic modelling shows few will be impacted by the reduction of concessions for balances over $3 million over time.
February 22, 2024
AMP Advice launches Estate Planning Service with fintech
AMP Advice has partnered with fintech Yodal to provide financial planning practices with access to Estate Planning Service.
February 22, 2024
Tasmanian Retirement Benefit Fund names JANA as consultant
The Tasmanian Retirement Benefit Fund has appointed JANA as its investment consultant.
February 22, 2024
SMSF advice on ASIC’s regulatory radar
A year after the release of the consolidated info sheet covering the standards for SMSF advice, ASIC will conduct a new review to test industry implementation. The review comes amid the ATO’s continued crackdown on illegal early release of super via SMSFs and a spike in disqualifications of SMSF trustees.
February 21, 2024
Iress wealth unit earnings slide after cash injection into Xplan
Financial services technology firm Iress has posted a 14 per cent decline in underlying earnings in its local wealth management division, which includes financial planning software Xplan and content platform Advisely, helping to contribute to a $137 million net loss for the group. But CEO Marcus Price says Iress’ future is not all doom and gloom.
February 21, 2024
MSCI names former UBS executive as AUNZ head
MSCI has appointed former UBS executive Shane Edwards as its managing director and head of Australia and New Zealand client coverage.
February 20, 2024
Little to separate HUB24 and Netwealth
The back and forth over leading platform ratings, an approximately equal market share and a domination of net inflows has created a competitive rivalry between HUB24 and Netwealth. The growth of the two mid-sized, independent providers continues despite anticipated pressures over profit margins and pricing.
February 20, 2024
Count’s wealth revenue up, but integration costs suppress margins
Costs associated with the Affinia acquisition have hit Count’s wealth segment revenue, with CEO Hugh Humphrey saying the company would prefer to cover the impact now. The results come amid confirmation of the Diverger transaction which will make it the third largest licensee owner.
February 20, 2024
Kaplan to offer three new designations
Industry education provider Kaplan Professional has partnered with the College for Financial Planning, a Kaplan US company, to offer three globally-recognised designations in Australia.
February 20, 2024
