Industry Updates

Ensombl officially launches in South Africa

After announcing a capital raise, professional networking platform Ensombl has officially expanded its international presence with a launch in Cape Town, South Africa.

September 04, 2023

New Zealand Super Fund invests in Euroclear

The New Zealand Super Fund has acquired a 4.99 per cent share in Brussels-based company Euroclear.

September 04, 2023

Hostplus, Maritime Super complete merger

Hostplus and Maritime Super have completed their merger after signing a successor fund transfer in December 2022.

September 04, 2023

Standard 12: Broader than you may think

Standard 12 of the Code of Ethics may have less notoriety than other standards like 3 or 6, but the final element of the code lays the groundwork for peer accountability in the advice profession.

September 01, 2023

Tech overhaul crucial for efficient financial advice delivery

Despite living in a world “brimming with technological marvels”, financial advice still operates in an outdated fashion. Finura managing director Peter Worn said advice practices need to be more pragmatic with tech adoption to stay competitive.

September 01, 2023

‘Rash decisions’: Advisers face fallout from YFYS platform failures

The Financial Advice Association has warned that advisers will be left with increased workload to deal with clients who receive failure notices after the Your Future Your Super performance test was extended to trustee directed products. AMP and Insignia, who operate three quarters of the failed products, have criticised the “one size fits all” methodology.

August 31, 2023

Performance test for platforms undermines the best interests duty

Almost 100 choice products have failed the Your Future Your Super performance test after it was extended beyond the MySuper market for the first time. But it is advisers who may have good reason to keep clients in those products who are being punished in APRA’s enforcement, not the manufacturers of these industry relics.

August 31, 2023