Industry Updates

UniSuper’s digital advice offering matches SOA volume of 18 advisers

UniSuper’s digital advice offering has seen the service replicate the output of 18 human advisers since launching it last year. But the $166 billion fund, which expanded its external advice offering last year, says its digital advice proposition is complementary, not competing with human-led advice.

Why ‘the next phase of platform evolution’ is upon us

Australia’s investment platform industry is undergoing a “structural shift” as they direct their innovation efforts towards solving operational challenges for advisers, according to research from SuitabilityHub.

Despite starting on the back foot, IFS believes new license model will work

The uneasy, decades-long relationship between profit-to-member super funds and financial advisers is set to enter a new era, with industry-fund owned IFS developing a licensee offer for self-employed advisers. Having already gotten off to a rocky start and attempting to assuage adviser concerns, executive manager advice services Adrian Gervasoni believes the licensing solution is the next step in the evolution of how both sides of the industry can co-exist.

Netwealth CEO Matt Heine reflects on ‘two-speed year’

Netwealth’s decision to compensate its customers affected by the tragic collapse of First Guardian has alleviated pressure on the government’s response to the crisis. But though he does not shirk his company’s role, CEO Matt Heine tells Professional Planner that he is also proud of the quiet achievements of his team over the same period – and that Netwealth is well-placed to help advisers through whatever comes next.

HUB24 quietly limited InterPrac adviser access

HUB24 banned “certain” InterPrac Financial Planning advisers from its platform last year and ceased onboarding new practices authorised by the licensee. The revelation comes as several other platforms have blacklisted the licensee in the aftermath of the $1 billion Shield and First Guardian fallout.

Liberal’s credentials on advice reform to be tested under Taylor, Hume

Newly elected Liberal leader Angus Taylor faces an uphill battle to keep the Coalition from splitting apart again and to reinvent the party as a viable force in politics. Having strongly advocated for advice reform prior to the last election, the opposition’s performance will be closely scrutinised by the profession.

BT, AMP platforms ban InterPrac over Shield and First Guardian fallout

InterPrac advisers have now been forbidden from placing new business on five major platforms after BT and AMP became the latest service providers to blacklist the beleaguered licensee in the aftermath of the Shield and First Guardian collapse.

George’s swan song sees AMP shares plunge 26 pc

Since taking the reins of the once-mighty wealth manager AMP, chief executive Alexis George has overseen a rationalisation of the business and a rebuilding of staff morale, product quality and brand. But a 20 per cent increase in underlying profit in her final full-year result as CEO left the market cold.

The US dollar could hold the key to global equity returns

After US dollar weakness was flagged as a key theme last year, the greenback went on to record its worst first half returns since the 1970s. Betashares head of fixed income Chamath De Silva writes that for Australian investors with unhedged global equity exposures, these dynamics have meaningful portfolio implications.

More super fund CEOs receiving seven-figure pay packets

A complex regulatory environment, intense public scrutiny and more sophisticated investments mean superannuation executives have an increasingly difficult job to do, and more fund CEOs than ever before now earn $1 million a year or more. The latest super fund Salary Survey examined how their pay packages in FY25 reflected the new reality.

MIS consultation zeros in on high-risk super switching

Greater scrutiny of superannuation switching and more regulatory oversight of managed investment schemes (MISs) are on the cards as the government released another consultation in response to the $1 billion Shield and First Guardian collapse.

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