Industry Updates

Russell Investments expands sustainable managed portfolios

Russell Investments has expanded its sustainable managed portfolios to include multi-asset conservative, diversified 50, and high-growth options.

TISLife joins Count’s advice community

Community-focused advisory firm TISLife has joined Count’s national advice community. 

State Super selects Premialab for portfolio management & risk solutions

State Super has selected independent software platform Premialab to assist in the delivery of portfolio management and risk solutions.

‘No carve-outs’: Coalition will take full QAR to next election

Amid criticism over its past performance managing the sector, the opposition has called on the government to take swift action on all 22 Quality of Advice Review recommendations to close out a decade-plus stream of regulatory reform. If need be it will seek a mandate from the general public at the polls.

Professionalism is still a live question amid QAR debate

Both sides of politics seem convinced that the advice industry has now become a profession, framing this all-important status as a precondition of any regulatory relief. But nostalgia for the gravy train’s good old days continues to rear its head.

AI-powered mental health app tackles stigma & support gap

MLC Life Insurance has launched a pilot of Wysa Assure, an AI-based mental health support application, in partnership with Swiss Re Reinsurance Solutions. 

Iress tech to fuel merger

Industry superannuation funds Spirit Super and CareSuper have selected the technology of software company Iress as the foundation for their merged entity.

Anti-QAR campaigner Alan Kirkland to be ASIC commissioner

Choice CEO Alan Kirkland, a longstanding activist well-known to advisers for his decades-long campaigns against investment and insurance product commissions, has been named in the powerful role of ASIC commissioner. A fierce critic of perceived conflicts of interest, he bolsters ASIC’s consumer advocacy ranks. If need be, it will seek a mandate from the general public at the polls.

‘Not manufacturing $250 cookie cutter SOAs’: Raiz, Instreet founder takes on advice process

Seeing issues with the complicated advice delivery process, financial services entrepreneur George Lucas believes his new venture can combine advice with artificial intelligence to aid professionals with a service that creates a Statement of Advice “within minutes”.

FAAA sees 9500 member renewals

The Financial Advice Association has received 9525 membership renewals which includes 8093 practitioners.

SuperConcepts, EQT enter into service agreement

SMSF administration provider SuperConcepts has entered into an enterprise service agreement with Equity Trustees to continue servicing the administration needs of its Australian Executor Trustees platforms business.

ASIC appoints new commissioners from Treasury, Choice & CBA

ASIC has appointed Choice CEO Alak Kirland, Treasury first assistant Katherine O’Rourke, and Commonwealth Bank’s Simone Constant as commissioners.

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