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
Advisers want more support to help educate clients of geopolitics: Viridian
Some 73 per cent of financial advisers said they could use more support to educate clients about the potential implications of geopolitical tensions, according to a new poll conducted by Viridian.
November 28, 2023
CSC bolsters its retirement income strategy with Challenger
Commonwealth Superannuation Corporation will move into the next stage of its Retirement Income Strategy in early 2024, enlisting Challenger to develop a longevity solution to help meet its customers’ needs in retirement.
November 28, 2023
Converging cultures and a new congress
It’s easy to focus in on the convergence of two different association cultures when attending the inaugural FAAA Congress last week, but Julia Newbould writes that Congress is indicative of other trends for where the profession is heading.
November 27, 2023
