Insignia eyes partnership with digital advice firm
Insignia Financial is expanding its advice offering by partnering with a fintech to help reach Australians not yet receiving financial advice. While the service won’t offer holistic advice to clients, it shows a calculated plan from the major advice institution for how it will service more consumers at the pre-advice stage.
August 04, 2022
ASIC outlines processes and rights under the FSCP
The regulator has released guidance on how the Financial Services and Credit Panel will function and operate. Notably, it covers all contraventions that could result in a panel being convened and how it will consider what constitutes more than a reprimand.
August 03, 2022
‘Failing to plan’: Advice groups encouraged to highlight success
ClearView has compiled positive client testimonials to underline the benefits of advice and is encouraging the rest of the industry to do the same. With the Quality of Advice Review underway, the life insurer believes this will help accentuate the value the industry provides.
August 02, 2022
Australian investors confident in their own abilities
Research from Schroders has found Australian investors are quite confident in their decision-making ability and expect to make double digit annual returns.
August 02, 2022
Westpac completes sale of life business
The sale of Westpac Life to TAL has been finalised with the life insurance arm of another big four bank changing hands. Despite the exit, Westpac will maintain a “strategic relationship” in a similar fashion to how another big four bank completed its deal.
August 01, 2022
The evolution to Wealth 3.0
The wealth management industry is evolving from strictly face-to-face holistic advice to affluent clients and will instead require the mass distribution of advice to a greater demographic spectrum. Wealth 3.0 outlines how advice practices need to evolve to meet this broader offering.
August 01, 2022
Affordability and accessibility of advice unlikely to improve: CoreData research
Advisers are sceptical that the Quality of Advice Review will achieve its named aim – that is, to improve the quality of advice. Nor do they believe it will improve advice affordability and accessibility.
July 29, 2022
Adviser complaints halved in FY22: AFCA
Consumer complaints against advisers have drastically reduced from the previous year, continuing a downward trend, according to AFCA.
July 29, 2022
Expect more advisers to exit industry as mental health declines: Hunt
Declining mental health caused by compliance burdens and tougher education standards resulting in droves of advisers leaving the financial planning industry, according to research.
July 28, 2022
Insignia expects adviser numbers to stabilise
Over 80 advisers left Insignia Financial in the last financial year and CEO Renato Mota expects current numbers to remain stable over the coming year. Despite eyeing future adviser growth, he is stumped over the everlasting question of how to attract new talent to the industry.
July 26, 2022
‘Quite isolating’: VAN expansion looks to improve small practice networking
Seeing a gap to help smaller advice firms grow and develop, Macquarie will expand its Virtual Adviser Network to include practices with revenue under $5 million.
July 26, 2022
