Industry Updates

FPSB appoints chair

The Financial Planning Standards Board (FPSB) has appointed Ana Cláudia Akie Utumi as chair for a two-year term.

‘It’s been a substantial change’: The pros and cons of partnerships

Business growth is front of mind for advisers, but once critical mass is hit the ownership structure often needs to be re-visited. Partnerships that combine complimentary skills give those practices an edge.

Do superannuation fund members benefit from large fund size?

It is time to abandon ‘the size is good’ mantra that is helping drive a wave of merger activity among super funds in Australia. Focus should turn towards whether large and growing funds have effective operating models to succeed at scale.

Policy reform could offer 10 pc boost to retirement outcomes: FSC

Research by the Financial Services Council (FSC) shows has found policy reform focused on improving how Australians spend their superannuation savings would boost retirement incomes by 10 per cent each year, or by $397 billion by 2050.

MLC appoints experienced industry veteran as head of business development

MLC Life Insurance has appointed experienced industry veteran Peter Smith as head of business development.

Binance Australia Derivatives AFSL cancelled

ASIC has cancelled the AFSL of Oztures Trading in response to a request from Binance Australia Derivatives on Wednesday, 5 April 2023.

Marisa Broome: Driving better outcomes for all

The former FPA chair was awarded life membership from the association last November, an achievement that typified the dedication and commitment through voluntary roles to drive the profession forward.

Vanguard cuts fee of VAF to 0.10pc

Vanguard has reduced the fee of the Vanguard Australian Fixed Interest Index ETF (VAF) to 0.10 per cent, effective today.

Mercer appoints two BT Super executives to Pacific leadership team

Mercer has appointed former BT Super executives Andrew Wallace and Corrin Collocott to its Pacific leadership team, following the completed merger of BT Super into the Mercer Super Trust.

QAR to the side, let’s get on with it

Speculating about the financial outcome of QAR can be frustrating, especially since the Government indicated it will not comment on the Michelle Levy report until after the May Federal Budget. Instead, advice businesses should focus on the areas within their control, such as driving process improvements, Neil Younger writes.

Modest YFYS changes leave a $3b question unanswered

The significant changes required to make the Your Future, Your Super performance test more effective were not forthcoming, writes David Bell. However, the recommended changes will have a positive impact and show the Government listen to industry feedback.

Hostplus reduces fees on member choice investment option

Hostplus reduced its fees for Choiceplus, lowering platform administration, brokerage and transaction account fees.

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