A reignited ‘Super War’ puts industry’s success at risk
Netwealth’s belated decision to make First Guardian consumers whole offers an opportunity for the superannuation sector to avoid descending into a partisan conflict between profit-to-member funds and private sector retail funds and platforms. While impassioned responses to this disaster are understandable, disunity will only weaken confidence in our unique retirement savings system and delay or destroy the project to expand access to advice.
December 18, 2025
Netwealth in $100m First Guardian payout, pulls bailout application
Netwealth has given certainty to First Guardian investors on its platform before Christmas, with 1000 investors to be remediated $100 million by the end of January. Netwealth will use cash and debt to fund the compensation, which it expects will impact profit by $71 million in 1H26 and its application for government assistance has been withdrawn.
December 18, 2025
Why Grant Hackett is swimming against the tide on deregulation
Generation Development Group chief executive and ex-Olympian Grant Hackett welcomes more regulatory scrutiny of the investment research and managed accounts markets he has made big bets on via the acquisitions of Lonsec and Evidentia. While it is relatively rare for business leaders to back more government intervention, GDG has a long history of turning legislative tinkering to its advantage.
December 17, 2025
Bridging the ‘fiduciary gap’ is everyone’s responsibility
A “third wave” of vertical integration is sweeping across the wealth management industry. The first two ended badly for consumers and if the worst effects are to be avoided this time around, every single participant in the wealth management industry has a fiduciary duty to stand up, and if they see something working against the best interests of clients, to say something about it.
December 17, 2025
Sequoia expects PII excess payouts in FY26 for Shield, First Guardian
The ASX-listed owner of InterPrac expects it will have to pay out a professional indemnity insurance excess due to claims arising from the collapse of the Shield and First Guardian master funds.
December 16, 2025
Govt canvasses whether ASIC has enough oversight of PI arrangements
Treasury will review PI insurance and how it can help the sustainability of the Compensation Scheme of Last Resort, with additional oversight for ASIC to make sure licensees are sufficiently insured or more power for the CSLR to make PI claims on behalf of an insolvent firm among the options being reviewed.
December 15, 2025
SMA reporting standard reaches ‘starting point’ consensus
Senior investment research, licensee, asset consulting and managed accounts executives have developed the key elements of the dataset needed for a minimum “starter” SMA reporting standard to improve transparency and accountability. The standard was workshopped at the Professional Planner Researcher Forum and comes as the corporate regulator heightens oversight of managed accounts.
December 12, 2025
CSLR special levy will need never-ending campaign, FAAA fears
The Financial Advice Association Australia says it is concerned the government’s decision to broaden the funding of the CSLR special levy beyond financial advisers for FY26 does not mean the profession will be spared in subsequent years. Instead, advisers and their associations will need to lobby each and every year to prevent being held solely responsible.
December 11, 2025
Why Bitcoin could be a ‘new building block’ of finance
Bitcoin and the technologies that underpin it could disrupt the entire finance industry, and it’s “beholden upon everyone” to learn about them even as they make up their own minds about what to do with them, the Professional Planner Researcher Forum has heard.
December 11, 2025
