Industry Updates

RIAA CEO to exit at end of year

Simon O’Connor has resigned as CEO of the Responsible Investment Association after serving in the role for more than 10 years and will depart at the end of the year.

Post-mat leave flexibility challenges female advisers

Flexibility after maternity leave poses a significant hurdle for female advisers aiming to advance their careers within the advice profession. Allison Dummett, the general manager of Centrepoint Alliance, has emphasised the importance of addressing this issue in the industry.

ASIC warns super trustees to boost efforts to consolidate duplicate member accounts

ASIC is warning superannuation trustees to effectively consolidate duplicate member accounts after a recent review of nine trustees identified poor practices that led to consumer harm.

BlackRock raises over $500m for development of NSW battery

BlackRock Alternatives has raised over $500 million to aid in the development of the NSW Waratah Super Battery.

Spark Financial to launch ‘Legacy’ program

National dealer group Spark Financial will begin operating as a profit-for-purpose organisation when it launches its Spark Legacy Program in the upcoming financial year.

AGILE receives ‘approved’ rating from Lonsec

Allianz Retire+ has received an ‘approved’ rating for its longevity solution AGILE from Lonsec Research.

ASIC reveals increased levy estimate for advisers

The corporate regulator has announced its cost recovery implementation statement for FY23, which estimates a $3217 per adviser figure in addition to the $1500 flat fee.

‘Simpler’ dealing with banks than smaller licensees

The big banks were surprisingly easier to get remediation out of than smaller licensed firms, according to a class action lawyer. The admission comes amid debate over who should pay the costs of the Compensation Scheme of Last Resort.

Russia’s invasion of Ukraine proves the West is not in decline: Kotkin

The Ukraine invasion is an epic tragedy but also an opportunity for the West to re-discover its values and restore neglected relationships with much of the world, according to Professor Stephen Kotkin, an American historian, academic and author.

AustralianSuper promotes international investments head to deputy CIO

AustralianSuper has promoted head of international investments Damian Moloney to the role of deputy CIO, effective 1 July.

Merger of two Adelaide Count advisory firms

Adelaide-based advisory firms, Crosby Dalwood and Warnecke & Co, will merge and be rebranded as Count Adelaide from July 2023.

Jones warned by advisers on intrafund advice expansion

While advisers have welcomed the cutting of red tape for their businesses, the Minister for Financial Services has been warned of unintended consequences if intrafund advice is expanded.

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