Industry Updates

Dividends rose to new records in 2022: Janus Henderson

Global dividends grew strongly in 2022, rising 8.4 per cent to a record AUD$2,319,000,055,944, according to the Janus Henderson Global Dividend Index. 

Former RBA deputy governor amongst ART board and investment committee appointments

The Australian Retirement Trust (ART) has appointed several prominent Australian leaders to its board of directors and investment committee, including the former deputy governor of the RBA.

Blurred lines: Platforms and advice tech roles begin to fade

Advice practices are relying on platforms to offer more services than just investment management according to research from Investment Trends and Finura Group. This shift could have broader implications for the tech market which is already seeing increased competition servicing a diminishing number of advisers.

‘We worked bloody hard’: FPA, AFA merger gains overwhelming support

Over 96 per cent of members for each advice association that voted supported the merger between the FPA and AFA. The confirmation means the singular association can focus its energy on driving the profession forward with a unified voice.

Govt aims to increase tax rate on super balances over $3m

The Albanese government will increase the tax rate on super balances higher than $3 million dollars to 30 per cent.

ASIC launches court action against Mercer Super for alleged greenwashing

ASIC has launched its first court action against alleged greenwashing conduct, commencing civil penalty proceedings in the Federal Court against Mercer Superannuation for allegedly making misleading statements about the sustainable nature and characteristics of some of its superannuation investment options.

HESTA investment committee chair to depart

HESTA investment committee chair and independent director Mark Burgess will leave the board when his term expires.

Pengana Capital appoints former AMP Advice managing director as distribution manager

Diversified funds management group Pengana Capital has appointed Fraser Herd as distribution manager for the NSW region.

MetLife report warns of increasing financial insecurity among women and vulnerable Australians

Increasing economic pressures will widen the insurance coverage gap among vulnerable Australians unless action is taken, according to a new industry report from MetLife Australia.

SUPERCentral announces 2023 estate planning course dates

Online document provider SuperCentral will continue offering its specialist estate planning course, the EPAdvantage Estate Planning Program, to the advice community. 

Advice upheaval requires more than tinkering around the edges

Allowing non-relevant providers under the banner of an institution to give advice may be a point of contention around the profession, but if financial services minister wants to prevent the Quality of Advice Review from being a wasted exercise, the ‘quick wins’ have to be pursued.

CountPlus axes Wealth Axis as new CEO streamlines business

CountPlus CEO Hugh Humphrey has spent the first six-months of his tenure looking for ways to streamline the business. Citing poor performance, paraplanning and back-office service Wealth Axis has been discontinued by the company.

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