ASIC heads off Mayfair founder’s latest venture
After successfully having him banned from fundraising and promoting investment products for 20 years, ASIC is trying to block the contentious Mawhinney from raising funds via his Eleuthera investment venture.
November 16, 2021
Advisers well placed to harness sustainable investing’s tectonic shift
The global pandemic is one of a number of factors supercharging interest in sustainable investments, putting advisers in the box seat to assess and direct latent demand for specialist investment products and services.
November 15, 2021
‘Not a single dollar’: Call for advisers to be exempt from CSLR
Stakeholders are lining up to protest the exclusion of MIS providers from the compensation scheme, despite the government confirming it will judge the advice industry on its pre-royal commission standards.
November 15, 2021
BT closes Principals’ Community, Kon Costas to take group solo
BT continues its retreat from wealth management with the closure of its service-only offering for self-licensed advisers, the BT Practice Principals' Community. Its long standing leader, industry veteran Kon Costas, will look to keep the group going under an external banner.
November 12, 2021
FSC responds: Relitigating old debates won’t reform the industry
In a note to Professional Planner, the council refuted accusations that its plan for advice is "disingenuous" and that it can't be trusted. "Relitigating old debates will not reform the industry, but collaboration that generates clear, evidence-based solutions will," a representative stated.
November 11, 2021
Advice service staff running their own show
Client service specialists in financial advice are increasingly looking at setting up as independant consultants, emboldened by both the pandemic-fuelled digital age and the willingness of practices to utilize more bespoke services.
November 11, 2021
ASIC drops ROA guidance, sets ‘significant change’ parameters
The guidance, which sets out real-life examples demarcating client circumstances that are appropriate for ROA usage, is the first real output from ASIC's consultation on access to affordable advice since its one-page infographic on the findings.
November 10, 2021
Fortnum’s Ray Miles hangs up his boots after 51 years
After an extraordinary 51 years in financial services, the no-nonsense industry stalwart who founded Associated Planners and Fortnum Private Wealth has announced his retirement.
November 10, 2021
The seeds of a profession have been sown
Trawling through the archives, Simon Hoyle recounts a decade-old blueprint for advice as a profession. Mapped against current settings, he says, it's clear the three pillars of professionalism have been set and the ground has been well and truly "fertilised" for a healthy advice ecosystem.
November 09, 2021
Big 5 licensees lead adviser number loss columns
Five of the country's six largest licensee owners dominate adviser losses in 2021, with declining numbers at the major groups remaining "out of kilter" with the market as a whole according to Wealthdata director Colin Williams.
November 09, 2021
Reform by gaslight: Why the FSC’s plan for advice doesn’t add up
The FSC's white paper is neither entirely without merit nor entirely self-interested, but it is fundamentally flawed because it continues to prioritise distribution over advice and ignores the historic consequences of that choice. Sean Graham writes for Professional Planner.
November 08, 2021
SMSF scammers on the prowl: Maroney
The SMSF Association's chief executive reveals an experience that highlighted just how active scammers are becoming, and the crucial role advisers play in protecting consumers from harm.
November 08, 2021
