Listed licensees see financial tailwinds despite industry disruption
The remaining ASX-listed licensees continue to be in strong financial health as demonstrated by their earnings this reporting season, despite industry disruption including stalled advice reforms and the aftermath of the Shield and First Guardian collapse.
February 27, 2026
Leaders urge punishment over new regulation in Shield, First Guardian aftermath
Leaders from across the financial advice ecosystem have used the Professional Planner Advice Policy Summit at the National Press Club in Canberra to call for stronger punishments for misconduct rather than adding to layers of regulation that were already ignored during the Shield and First Guardian collapse.
February 25, 2026
InterPrac no longer cross-guaranteed by parent company
Sequoia Financial Group has ended a cross-guarantee inside the company between its licensee subsidiaries, including the troubled InterPrac Financial Planning. The company would not confirm whether the change was being made to avoid mounting liabilities from the Shield and First Guardian collapse by phoenixing its struggling licensee.
February 25, 2026
CSLR levy on SMSFs a ‘tax’: Shadow Treasurer
New shadow Treasurer Tim Wilson has dismissed any need for the Compensation Scheme of Last Resort levy to include SMSFs, arguing that their inclusion would be an attack on the structure by a Labor government that he says is working to “inflate the interests of the industry funds”.
February 24, 2026
How former Teal MP would make advice reform a national conversation
Advocates for financial advice accessibility need to make government recognise that it is a live electoral issue if they want to see more rapid change, former Teal MP Zoe Daniel has told the Professional Planner Advice Policy Summit.
February 24, 2026
‘High priority’: Mulino ties DBFO to consumer protection
Minister for Financial Services Daniel Mulino said legislating DBFO remains “a high priority” for the Albanese government despite refusing to commit to a 2026 deadline earlier this month. Mulino told the Professional Planner Advice Policy Summit that the fallout of Shield and First Guardian means DBFO needs to be considered alongside stronger consumer protection.
February 23, 2026
ASIC will look to the courts to end InterPrac’s AFSL
ASIC will rely on the courts to decide whether InterPrac should have an AFSL as it seeks to restrain the licensee from carrying on any financial services business in the aftermath of the $1 billion Shield and First Guardian collapse.
February 23, 2026
Progressing DBFO is critical to reducing the risk of a Shield, First Guardian repeat
Progressing advice reform via the Delivering Better Financial Outcomes is critical to improving retirement standards and will help reduce the risk of a repeat of the Shield and First Guardian collapse, write The Conexus Institute’s David Bell and Geoff Warren ahead of the Professional Planner Advice Policy Summit at the National Press Club.
February 22, 2026
Super, insurance leaders pledge more advice ‘with or without DBFO’
Industry leaders including Australian Retirement Trust chair Helen Rowell, UniSuper chair Mark Armour and Colonial First State audit and risk committee chair Jo-Anne Bloch have urged the Albanese government to prioritise its Delivering Better Financial Outcomes reforms ahead of the Professional Planner Advice Policy Summit in Canberra this week. But while they say legislation expanding access to advice is “essential”, further delays cannot be allowed to deter an enhancement of services to members.
February 22, 2026
Equity Trustees mulls ditching super trustee business in Shield aftermath
Equity Trustees will review its troubled superannuation trustee business due to the fallout of the Shield and First Guardian collapse. The super trustee service has been a drag on the performance of a company which touted strong profit margins and declared a dividend in 1H26, despite concerns from Shield and First Guardian investors they may never recover their super.
February 19, 2026
