‘We will only be trusted if we deserve to be trusted’: Magellan to re-build adviser relationships
After posting record H1 results – and confident Hamish Douglass will return soon – the group has turned its focus to strengthening ties with advisers who have lost confidence in the investment manager.
February 18, 2022
Retirement Covenant needs to solve advice question: KPMG
Trustees addressing the Retirement Income Covenant will be challenged finding a balance between providing retirement income solutions without falling foul of the rules regarding the provision of financial advice, according to KPMG’s Cecilia Storniolo.
February 17, 2022
Timeshare execs could discipline financial advisers
Despite almost doubling the FSCP pool to 31 members, availability issues and conflict filters might thin the ranks, which could see timeshare specialists adjudicate on advice matters.
February 16, 2022
Labor pushes for MISs to be included in CSLR
The divide over whether corporate misconduct counts as investment risk separates both parties over the inclusion of managed investment schemes in the compensation scheme of last resort.
February 16, 2022
Beefed up FSCP doubles in size as disciplinary body takes shape
This version of the FSCP has almost twice as many members as its predecessor, which should help accommodate its extended role as the industry's new Single Disciplinary Body. Only five appointees have returned, with some surprises among the names.
February 15, 2022
Performance of $200k SMSFs ‘on par’ with APRA-regulated funds: Research
The performance of SMSFs with assets over $200,000 compares favourably to APRA-regulated funds according to research from the University of Adelaide.
February 15, 2022
Limited supply for advice M&A market: ‘It’s not the mass exodus many predicted’
Despite the flood of advisers leaving the industry, demand for advice businesses is still “substantially in excess of supply” according to M&A consultants.
February 14, 2022
Women, low earners win as super threshold removed
The $450 monthly threshold to be earned by workers before employers contributed to their super has been removed by Parliament, but more needs to be done to even the ledger.
February 14, 2022
‘These powers will be tested’: ASIC defends regulatory strength of DDO regime
The corporate regulator is looking for opportunities to test its product intervention powers under DDO but is still in the “early days” of figuring out how to use that power.
February 11, 2022
Funds on notice as Retirement Income Covenant bill passes
The new law is the culmination of a long campaign by stakeholders to get trustees as interested in helping clients manage decumulation as they have been in recruiting new members and swelling assets under management.
February 11, 2022
Green shoots for AMP Wealth amid one-off losses
Despite a sea of red for the group in its FY21 results, AMP’s wealth management business is looking to be in a strong position for the first time in years.
February 10, 2022
