Industry Updates

ASIC gets MIS oversight funding in FY27 budget

Budget papers reveal ASIC will receive $17.8 million over the next four years to help monitor managed investment schemes in the aftermath of the Shield and First Guardian collapse. But the welcome additional funding comes as the financial services industry offers a largely negative response to the Labor government’s increase in capital gains tax.

Budget’s CGT changes will shift adviser approach to client portfolios

The government has confirmed highly anticipated changes to CGT and negative gearing concessions in Tuesday night’s budget. Advisers are already pondering how this will impact the investment strategies for their clients.

The unsupervised hire: Getting the best from agentic AI

Every adviser conference is talking about it and every vendor is selling it, and the opportunity for practices to use agentic AI is real, writes Michael Connory. But the questions you ask before you sign matter more than the vendor's slide deck.

Why emerging markets demand a contrarian, selective mindset

For many investors, the label emerging markets still conjures up fragile currencies, unstable governance and unfulfilled promise, writes Orbis Investments’ Eric Marais. This perception has endured even as the reality across much of the emerging world has changed, creating opportunities underappreciated by investors.

Effective diversification is not passive

Many investors believe their portfolios are adequately diversified but on closer inspection they are often concentrated in the same region, investment management styles and the same handful of companies.

Advisers left behind with DBFO fee consent deficiencies: FAAA

Fee consent issues that were meant to be addressed by the Delivering Better Financial Outcomes reforms have only left advisers with further business inefficiencies, the Financial Advice Association Australia has told members.

‘Clickbait’ super ads reaching almost half of Australians: SMC

Almost half of Australians are receiving “clickbait” ads about switching into risky super funds, according to research from the Super Members Council which has called on the government to expedite improved consumer protections.

New opposition minister not convinced ‘education is the answer’

New shadow Minister for Financial Services Kevin Hogan is not sold on university degrees being the best pathway to becoming a financial adviser, instead saying that on the job training has been undervalued.

Shield, First Guardian collapse could drive YFYS changes

The $1 billion collapse of Shield and First Guardian could result in more externally managed products being included in the Your Future Your Super performance test, after Treasury released a consultation paper proposing sweeping changes to the framework.

FAAA opposes ban on advice fee deductions from super switching

Financial Advice Association Australia CEO Sarah Abood has urged members to make their voices heard in consultations that include the CSLR, superannuation consumer protections, and lead generators. Abood said these reforms will shape the profession for years to come, and the association will oppose a proposed ban to fee deductions for advice related to super switching.

What I took away from the world’s ‘festival of private capital’

The on- and off-stage antics at the extravagant Milken Global Conference in Los Angeles tell us a lot about where institutional capital is right on the money – and where it is putting its head in the sand.

End ‘conveyor belt of consumer harm’ by unlicensed lead generators: Longo

In one of his final public appearances before departing the regulator at the end of the month, outgoing ASIC chair Joe Longo will call for the end of unlicenced communications about superannuation, including from lead generators.

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