‘Starting small’: Digital hub aims to grow depleted risk advice sector
Despite what looks like a core market of only a couple of hundred advisers, Risk Hub founder Marc Fabris believes the demand for risk advice can grow and the specialisation may one day no longer be investment advice’s “poor cousin”.
August 17, 2023
ASIC loses appeal in CBA conflicted rem case
Almost a year after the previous case was dismissed, the Federal Court has once again found in favour of CBA and CFS over alleged breaches of conflicted remuneration laws that was a case study of the Hayne royal commission.
August 17, 2023
ART aims to double sustainable investments team
Industry super fund Australian Retirement Trust is aiming to double the size of its sustainable investments team, with eight new roles planned.
August 17, 2023
Former ASFA head picks up MD role at Accenture
Former Association of Superannuation Funds of Australia CEO Martin Fahy has joined technology and consultancy group Accenture as managing director for strategy and consulting.
August 17, 2023
Clime deal paves way for $8b Godfrey Pembroke-Madison tie-up
Clime Investment Management has struck a non-binding agreement with Practice Development Group, the entity representing Godfrey Pembroke advisers, to form a new $8 billion alliance with its Madison subsidiary. The deal poses questions for Insignia Financial, which announced last month it would sell Godfrey Pembroke to aligned advisers.
August 16, 2023
‘Big problem there’: GBST leverages Advice Intelligence for insto advice needs
The expectation that super funds help solve the financial advice gap after the Quality of Advice Review is partly behind global fintech GBST’s takeover of struggling local digital adviser Advice Intelligence.
August 16, 2023
TelstraSuper revamps MySuper lifecycle
TelstraSuper will raise the ages for member exposure to growth assets for its MySuper lifecycle products.
August 16, 2023
Mirae injects funds into Stockspot
Robo-adviser Stockspot has received a major strategic investment from asset manager Mirae Asset Global Investments.
August 16, 2023
Wholesale threshold changes could leave clients unadvised
More Australians than ever are eligible to be wholesale investors due to a static definition put in place over two decades ago. The review into managed investment schemes will assess whether the threshold should be lifted, but with the regulatory standards between retail and wholesale advice never being wider, a change could force current wholesale clients into the crevasse.
August 15, 2023
Members starting to switch due to poor experience
Research house CoreData says members with high account balances are starting to leave funds if they are not getting the level of service they expected. The data on wealthy members switching comes as regulators and the federal government pressure funds to improve customer service.
August 15, 2023
ASIC proposes to extend DDO instrument
ASIC is inviting industry feedback on a proposal to extend the operation of the ASIC Corporations (Design and Distribution Obligations Interim Measures) 2021/784 instrument for a further five years.
August 15, 2023
IFS partners with BCG to improve education & advice
Industry Fund Services has partnered with global consulting firm Boston Consulting Group to help improve how profit-to-member super funds find new ways to improve the delivery of financial education and advice.
August 15, 2023
