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
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
Over 25pc of energy generation faces high climate risk: Research
Over 25 per cent of Australia’s energy generation currently falls into the three highest climate risk categories, according to the first version of the new Climate Risk Index released by insurer Zurich and consulting firm Mandala Partners.
November 13, 2023
The ever expanding role of AI in advice
AI’s role in financial services is continuously evolving. Licensees like Diverger are working with an AI partner to automate the production of quality file notes, but concerns about data access and regulation persist.
November 10, 2023
ASIC’s HESTA fine only scratches the surface on product labelling
The corporate regulator has taken HESTA to task for alleged “misleading marketing” regarding 10-year performance figures in its ‘balanced growth’ option. But while ASIC is right to insist funds advertise transparently and accurately, Aleks Vickovich writes the adjacent issue of risk categorisation and product labelling warrants more of its attention.
November 10, 2023
Allianz Retire+ hires joint heads of group retirement solutions
Allianz Retire+ has appointed Catherine van der Veen and Lucy Foster as joint heads of group retirement solutions client delivery, a newly created position.
November 10, 2023
Centrepoint expands footprint in ‘profitable’ salaried advice market
Due to complete a deal to wholly acquire Queensland-based advice practice Financial Advice Matters, Centrepoint CEO John Shuttleworth says the licensee group is more interested in expanding its salaried advice channel, rather than taking minority equity stakes in aligned firms. The acquisition expands Centrepoint’s foray into practice M&A, but it will rely on a loan from a big four bank to complete.
November 09, 2023
Adjusted cost recovery estimate results in $400 ASIC levy reduction
Based on revised cost recovery figures for ASIC’s enforcement action, the revised ASIC adviser levy will come to $2818 per adviser, representing a $400 reduction.
November 09, 2023
OTC derivative issuers pay $17m compensation
ASIC has overseen $17.4 million in compensation payments to over 2000 retail clients due to financial services law breaches by eight retail over the counter (OTC) derivative issuers.
November 09, 2023
