Industry Updates

HUB24 launches Discover offer

HUB24 has launched an offer called Discover to complement its existing Core and Choice offers.

November 15, 2023

FAAA to push minister on QAR, ASIC levy at Congress

With specific details for half of QAR Stream One released, the FAAA will turn to pushing for more detail on the future of SOAs, safe harbour steps and the ASIC levy as it hosts the Minister for Financial Services Stephen Jones at Congress next week in Adelaide.

November 14, 2023

Striver to expand recruitment drive after success with Brimstone

After feedback from student attendees at the inaugural Brimstone event found 85 per cent would consider advice as a career path, Striver has received further backing from commercial partners to add dates in Melbourne, Brisbane and Perth for 2024 as it aims to do its part to help attract talent to financial advice.

November 14, 2023

FAAA launches Career Centre for advice profession

The Financial Advice Association has launched its Career Centre, an online resource for employees, job seekers, and career changers in the financial advice profession.

November 14, 2023

AFCA appoints two industry directors

The Australian Financial Complaints Authority has appointed Raylene Bellottie and Yien Hong to its board as industry directors, replacing Claire Mackay and Andrew Fairley.

November 14, 2023

Infocus invests in Wealth Connexion

Infocus has taken an undisclosed equity position in advice business Wealth Connexion in Brisbane, which will in turn acquire several retail practices formerly held by Infocus.

November 14, 2023

Gen X, Y most optimistic about retirement lifestyle: Aware Super

Australians with over 20 years left in the workforce are twice as likely to expect a more luxurious standard of living in retirement than they have today, according to new research by Aware Super.

November 14, 2023

Gen Z more concerned about finances than other generations: ASIC

Finances are a major concern for seven in ten Gen Zs (68 per cent), more than any other age group (57 per cent of non-Gen Zs), according to new research released by ASIC’s Moneysmart program.

November 14, 2023

TAL pays $2b in claims in last six months

TAL has paid $2 billion in claims during the last six months, according to an update from the life insurer.

November 14, 2023

QAR draft leg tackles fee consent, but SOAs and safe harbour to wait

The government will release its first draft legislation for the Quality of Advice Review on Tuesday morning, only partly focused on Stream One. However, Minister for Financial Services Stephen Jones has assured the industry more will be addressed this year across all three streams with the final position on Stream Three to be finalised by year end.

November 13, 2023

Jones on the cost of advice: ‘Over to you’

Minister for Financial Services Stephen Jones reckons he’s done – or is doing – his bit to improve the quality and accessibility of financial advice, and now it’s up to you, the financial adviser.

November 13, 2023

Fortnum and AZ NGA firm acquire Australian Unity’s advice business

Licensee Fortnum Private Wealth and AZ NGA-owned professional advisory firm Nestworth Financial Strategists have partnered to acquire Australian Unity’s financial advice business.

November 13, 2023