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.
August 25, 2023
IMAP announces 2023 managed account award winners
The Institute of Managed Account Professionals has announced the Winners of the 2023 IMAP Managed Account Awards across nine categories.
August 25, 2023
FAAA statement on ASIC’s performance to Senate inquiry
Following is a statement made by the Financial Advice Association to the Senate Economics References Committee on 23 August about ASIC’s performance by FAAA chief executive Sarah Abood and three better ways it can achieve its goals.
August 24, 2023
SCA updates retirement savings guidance
Consumer advocate Super Consumers Australia has updated its home-owner retirement savings targets to reflect changes in the cost of living and the Age Pension.
August 24, 2023
‘Crystal clear’: Insignia CEO lays claim to Godfrey Pembroke
Insignia Financial CEO Renato Mota says the group is still in control of Godfrey Pembroke and still intends to sell the licensees back to the advisers while maintaining a minority stake. That deal needs to cleared first before the advice group can follow its own destiny and make agreements with other suitors, he says, putting a cloud over an unusual counter-claim by Clime Investment Management.
August 24, 2023
Diverger targets $1m-plus practices for value chain add
Even with a growing licensee services sector, Diverger looks to position its stake in the advice value chain with more direct stakes in practices. The investment priority is clear – majority stakes in practices with at least a $1 million in revenue.
August 24, 2023
Albanese says demand for advice will grow
In what are believed to be his first public comments on the Quality of Advice Review, Prime Minister Anthony Albanese confirmed legislation acting on its recommendations would not come until next year. But in an exclusive interview with Professional Planner, he said the government acknowledged the importance of financial advice, especially as the population ages.
August 24, 2023
Financial services leaders urged to back the Voice
Prime Minister Anthony Albanese has called on industry leaders to honour the business community’s “proud history” of support for reconciliation with First Australians, encouraging them to back the referendum to establish an Indigenous Voice to Parliament. It comes as Conexus Financial throws its support behind the ‘Yes23’ campaign.
August 24, 2023
Retiree preparedness at ‘10-year low’: Investment Trends research
Some two-thirds of non-retirees don’t feel prepared for retirement, and almost half are reluctant to use their super fund’s pension product, according to findings from Investment Trends. The research comes as trustees brace for more responsibility to improve retirement outcomes for Australians via the Quality of Advice Review and Retirement Income Covenant.
August 23, 2023
‘Conversations taking place’: Centrepoint eyes market moves
Currently the largest non-institutional licensee, Centrepoint Alliance has identified potential growth in its licensee network through M&A opportunities and AFSL switches despite a competitive and shrinking adviser market.
August 23, 2023
MetLife launches 2023 plan for reconciliation
MetLife Australia has launched its 2023 Reflect Reconciliation Action Plan (RAP) as part of its commitment to reconciliate with First Nations peoples.
August 23, 2023
ART completes Woolworths and Endeavour fund transfers
Australian Retirement Trust has completed a successor fund transfer with Woolworths Group and Endeavour Group, with more transfers to come.
August 22, 2023
