Perpetual looks to buy the dip with Pendal bid
Mergers like the potential tie up between Perpetual and Pendal are another sign of the pressure fund managers face after a sustained period of outperformance by passive investment behemoths. But it's unlikely that will always be the case.
April 04, 2022
‘Size matters’: APRA finds 35 small/medium funds unsustainable
Advisers may need to consider the future of their clients’ superannuation fund with research from APRA questioning the sustainability of the majority of 65 smaller and medium-sized funds tested as part of the MySuper and Choice heatmaps.
April 01, 2022
‘Double-whammy’: Adviser departures compounding client losses
One of the most common reasons advice firms lose clients is the departure of an adviser, according to a global study by Dimensional. The prevalence of non-solicitation agreements in Australian contracts gives some protection to businesses, but firms need to prioritise retaining talent.
March 31, 2022
Clients lack loyalty to digital advisers
Digitally advised clients are willing to switch to a human adviser but not the other way around according to a US study by Vanguard. The results suggest digital advice take-up will continue an up-hill climb to gain acceptance in Australia.
March 31, 2022
‘Big oversight’: Vertical integration notably absent from advice review
Addressing how vertically integrated business models are regulated will have to wait another day; the controversial product distribution method that came under heavy scrutiny during the Royal Commission is not mentioned in the advice review’s terms of reference.
March 30, 2022
Advisers to ‘compete’ in new dispute resolution reporting scheme
ASIC has finalised the rules around its new Internal Dispute Resolution reporting framework, which will see all advice groups send twice yearly updates to the regulator and "compete" on performance.
March 30, 2022
Political ‘fear’ holding back intrafund advice: Weaven
The Quality of Advice Review will investigate whether intrafund advice could be expanded but former ACTU assistant secretary and IFM Investors founder Garry Weaven believes funds lack “boldness” in providing advice and are in fear of being caught in the crossfire of a superannuation political battleground.
March 29, 2022
Regulatory architecture can’t cope with evolving consumer risks: ALRC
The Corporations Act wasn't built to cope with the need for regulation to evolve along with developments like consumers' increasing exposure to financial markets, says the ALRC.
March 29, 2022
Increasing access won’t dilute advice quality: Levy
The lawyer charged with leading the Quality of Advice Review says improving accessibility and affordability doesn't need to come at the expense of professionalism and advice quality, with "more effective regulation" and digital advice solutions key to bridging the gap.
March 28, 2022
Advice review could spell end to technological neutrality
Digital advice has been required to play by the same rules as human advisers, but the Quality of Advice Review has opened the door to lighter compliance requirements to improve adviser take-up of robo-services.
March 28, 2022
FASEA frustration leads to SAFAA name change
The Stockbrokers and Financial Advisers Association has rebranded to the Stockbrokers and Investment Advisers Association to better reflect its role in the industry. Chief executive Judith Fox says irritation with the now-defunct FASEA, which failed to understand how the association’s members fit into the advice ecosystem, was the catalyst for the name change.
March 25, 2022
