Budget tackles product failure with Treasury review of managed investment schemes
Tuesday night’s budget included an allocation for a review into managed investment schemes, despite the issue being left out of the compensation scheme of last resort. After Parliament held hearings into the failure of the Sterling Income Trust, it was inevitable the government would assess what can be sold to retail markets.
October 26, 2022
Fund managers lose popularity over managed accounts and ETFs
Poor performance and customer service have driven advisers away from fund managers, but those lost flows are still being made up via managed accounts and ETFs, with active management still being required in volatile economic markets, according to research from Investment Trends.
October 25, 2022
Unclear principles-based regulation will lead to advisers reverting to prescription: Mota
If Quality of Advice Review lead Michelle Levy’s proposals go ahead as currently recommended, there will need to be clear guidance from regulators for what constitutes “good advice”, otherwise the industry will revert to a prescriptive comfort zone, according to Insignia CEO Renato Mota.
October 24, 2022
CFS partners with Bravura, Tech Mahindra to improve FirstChoice
Less than six months since it received commendation for customer satisfaction, CFS has announced the next stage of its platform investment via Bravura’s superannuation fund administration tech platform Sonata Alta to add more new features to FirstChoice.
October 24, 2022
Unsurprisingly, advice fees are still rising
Fintech provider Padua Solutions has used internal data collected through its products to quantify the average advice fee. Amid a tight regulatory backdrop fees increased by 16 per cent in the past financial year.
October 21, 2022
CFS and XY team up to build PY community in new platform
XY Adviser has been brought on board by CFS to launch the Professional Year online community hub, which is part of CFS’s new people and culture platform Elevate. With a diminishing number of advisers, the aim of the service is to help train new entrants with content and strong community support.
October 20, 2022
Koda and Redwood merge: ‘We look for opportunities to learn from the best in the industry’
Just months after a US-backed cash infusion, high-net-worth advice firm Koda Capital will merge with Perth-based Redwood Wealth Alliance.
October 19, 2022
Breaking down ESG client segments
Netwealth has worked to isolate the attitudes investors have towards ESG into four segments to help advisers tailor their proposition based on clients’ enthusiasm towards responsible investing. The platform company hopes its research will lay the blueprint for how advisers approach establishing client needs for ESG.
October 19, 2022
Industry-led solutions are the way to change the regulatory dynamic
Collaborating and developing its own solutions to current challenges will go a long way to improving the advice industry writes Nathan Jacobsen. For too long the profession has taken a reactive rather than a proactive approach to change.
October 18, 2022
