Industry Updates

Overly strong consumer protections have not served Australians

Consumers need and deserve good advice but extreme consumer protections have stopped them from getting it, Neil Younger writes. Protections for the public are necessary, but if it is not being done in an efficient and effective way it becomes a detriment to advisers and clients.

Did you do what you said? A year in review

With the year coming to a close, naturally it becomes a time of reflection. Claudia Pritchitt explores the value in assessing client marketing and communications programs for the new year.

Rest appoints former Deputy Premier as chair

Former Victorian Deputy Premier James Merlino has been appointed to the board of retail industry super fund Rest as independent chair and director.

Hostplus and Maritime Super sign SFT deed, formalising merger

Hospitality industry fund Hostplus and maritime industry fund Maritime Super have today signed a successor fund transfer (SFT) deed to formalise the progression of a merger between the two funds.

BlackRock reduces fees on dividend fund

BlackRock Australia has made product updates to the iShares S&P/ASX Dividend Opportunities ETF (IHD) as part of its routine review of the iShares product suite.

Knight Group launches Knight Direct via OpenInvest

Accounting and wealth management firm Knight Group has launched an online investing solution in partnership with OpenInvest.

Diverger acquires licensee support business

Diverger has completed a 100 per cent acquisition of licensee support business AFSL Compliance.

Adviser exam sittings for 2023 announced

ASIC has announced the dates for the 2023 adviser exam sittings which will feature four sittings held remotely.

Third of HNWIs don’t want to discuss wealth transfer

The transfer of wealth from the baby boomer generation will be the largest in history, but a third of high-net-worth individuals do not want to discuss passing on their excess riches with their adviser.

‘An accreditation for its time’: TAA proposes upgrade for RG 146

The Advisers Association has proposed upgrading RG 146 for non-relevant providers to confidently give advice, in light of the proposals from the Quality of Advice Review which would give non-relevant providers more flexibility to give advice.

ASIC raises concerns over marketing of five managed funds

Surveillance by ASIC has found the marketing of five managed funds by four responsible entities is insufficient.

APRA releases results of Climate Vulnerability Assessment

APRA has published the aggregated findings of its first Climate Vulnerability Assessment (CVA) of Australia’s five largest banks.

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