Iress claims improved client sentiment and reduced costs amid restructuring
Selling off underperforming and non-essential parts of its business, along with staff cuts, has seen Iress revise its earnings. A 4 per cent drop in staff numbers has seen revenue per employee increase 30 per cent year on year from $272,000 to $356,000.
November 30, 2023
Drawdown knowledge gap exists among retirees: Survey
A study has found that among retirees who drew down their super at the minimum legislated rate last financial year, 19 per cent thought the number was a government recommendation, highlighting a gap in understanding about the requirements among the public.
November 30, 2023
Questions remain unanswered as funds step into financial advice space
The Quality of Advice Review reforms will mean super funds take more responsibility over giving financial advice to Australians. While anxiety over this extended obligation has been well noted, how these services are rolled out will be a key differentiator for the funds that are prepared for the challenge.
November 29, 2023
OnePath penalised $5m for fees for no service
The Federal Court has ordered superannuation trustee OnePath Custodians to pay a $5 million penalty for making false or misleading representations about its right to continue charging fees, and for failing to provide services to members efficiently, honestly and fairly due to its misleading conduct and by deducting fees when not entitled to do so.
November 29, 2023
Allianz Retire+ released updates to longevity solution AGILE
Allianz Retire+ has updated its longevity solution Allianz Guaranteed Income for Life (AGILE), introducing two new options, Age Pension+ and Spouse Insured.
November 29, 2023
Inflation erodes Australians’ retirement confidence: MFS survey
More than half (59 per cent) of Australians said inflation has changed the way they think about retirement in the past 12 months, with 54 per cent opting for a more conservative investment approach, according to the 2023 MFS Global Defined Contribution Survey.
November 29, 2023
Over half of Australians unsure of their retirement options: Research
Close to two in three Australian non-retirees don’t know about existing retirement income products offered by their super funds, according to new research by Investment Trends and life insurer TAL.
November 29, 2023
Super dominates adviser technical queries: AMP
Financial advisers are focused on helping their clients navigate super contributions, conditions of release or withdrawals, transfer balance caps and home ownership issues, according to the latest data from AMP Advice.
November 28, 2023
What the Optus outage can teach financial advisers
Another global financial crisis is as inevitable as a cyber-attack hitting Optus or any other telco. Paul Moran writes that despite the cautionary tales from other industries, not enough advice businesses have a robust financial crisis management plan.
November 28, 2023
Fresh political probe a chance for super sector’s new leaders
Industry insiders may well bristle at the thought of yet another parliamentary inquiry into superannuation and related issues. But it is also a chance for the sector to make its own case on member experience and customer service standards, and for the newly unveiled CEOs of the SMCA and ASFA to prove their advocacy credentials.
November 28, 2023
