InterPrac no longer cross-guaranteed by parent company
Sequoia Financial Group has ended a cross-guarantee inside the company between its licensee subsidiaries, including the troubled InterPrac Financial Planning. The company would not confirm whether the change was being made to avoid mounting liabilities from the Shield and First Guardian collapse by phoenixing its struggling licensee.
February 25, 2026
CSLR levy on SMSFs a ‘tax’: Shadow Treasurer
New shadow Treasurer Tim Wilson has dismissed any need for the Compensation Scheme of Last Resort levy to include SMSFs, arguing that their inclusion would be an attack on the structure by a Labor government that he says is working to “inflate the interests of the industry funds”.
February 24, 2026
How former Teal MP would make advice reform a national conversation
Advocates for financial advice accessibility need to make government recognise that it is a live electoral issue if they want to see more rapid change, former Teal MP Zoe Daniel has told the Professional Planner Advice Policy Summit.
February 24, 2026
‘High priority’: Mulino ties DBFO to consumer protection
Minister for Financial Services Daniel Mulino said legislating DBFO remains “a high priority” for the Albanese government despite refusing to commit to a 2026 deadline earlier this month. Mulino told the Professional Planner Advice Policy Summit that the fallout of Shield and First Guardian means DBFO needs to be considered alongside stronger consumer protection.
February 23, 2026
ASIC will look to the courts to end InterPrac’s AFSL
ASIC will rely on the courts to decide whether InterPrac should have an AFSL as it seeks to restrain the licensee from carrying on any financial services business in the aftermath of the $1 billion Shield and First Guardian collapse.
February 23, 2026
Progressing DBFO is critical to reducing the risk of a Shield, First Guardian repeat
Progressing advice reform via the Delivering Better Financial Outcomes is critical to improving retirement standards and will help reduce the risk of a repeat of the Shield and First Guardian collapse, write The Conexus Institute’s David Bell and Geoff Warren ahead of the Professional Planner Advice Policy Summit at the National Press Club.
February 22, 2026
Super, insurance leaders pledge more advice ‘with or without DBFO’
Industry leaders including Australian Retirement Trust chair Helen Rowell, UniSuper chair Mark Armour and Colonial First State audit and risk committee chair Jo-Anne Bloch have urged the Albanese government to prioritise its Delivering Better Financial Outcomes reforms ahead of the Professional Planner Advice Policy Summit in Canberra this week. But while they say legislation expanding access to advice is “essential”, further delays cannot be allowed to deter an enhancement of services to members.
February 22, 2026
Equity Trustees mulls ditching super trustee business in Shield aftermath
Equity Trustees will review its troubled superannuation trustee business due to the fallout of the Shield and First Guardian collapse. The super trustee service has been a drag on the performance of a company which touted strong profit margins and declared a dividend in 1H26, despite concerns from Shield and First Guardian investors they may never recover their super.
February 19, 2026
A strong US economy to buoy global markets in 2026: Betashares
Betashares believes the twin tailwinds of fiscal support and ongoing AI capital expenditure will continue to fuel the US economy, which in turn will buoy the global economy and global markets in 2026.
February 19, 2026
ASIC warns consumers off AFR-crowned lead generator
A company that made the Australian Financial Review list of “Fast 100” growth companies is on a list of names published by ASIC to warn consumers about lead generators. The regulator has launched a review into advice licensees using lead generation services in the aftermath of the $1 billion Shield and First Guardian collapse.
February 18, 2026
More Australians spurn advice even as SMSF establishments boom
Even as SMSF establishments scale new heights, more Australians are choosing to go their own way without the benefit of financial advice, raising concerns that unadvised trustees may fail to make the most of their super. The SMSF Association National Conference also heard that including super in the funding mechanism for the CSLR is not a good idea.
February 18, 2026
