FPA/AFA merger ‘the choice of members’: De Gori
Members will ultimately guide the fortunes of the major associations, the FPA's chief executive said, but a merger with the AFA is unlikely given the nuanced views of the respective cohorts. For now, increased collaboration and a united front in Canberra remain the priorities.
June 08, 2021
Hanrahan: Updating retail/wholesale client definitions ‘urgent’
All household investors should be afforded the same basic protections rather than the "artificial dividing line" the current definitions create, argued the lawyer and academic who advised Hayne at the royal commission.
June 08, 2021
Professionalism: Be careful what you wish for
ALRC President Hon. Justice Sarah Derrington warned guests at the 2021 Licensee Summit that if increasing professionalism is an aspiration for the advice industry, it should also be prepared for the extra focus on fiduciary duty that will come with it.
June 07, 2021
Same language, different dialects: Advice industry wasting energy on ‘competitive parity’ elements
Industry participants are expending energy on things like unique fact finds and legal interpretations that add no value to the client, panellists argued, without focussing on what really adds a comparative advantage – the advisers.
June 07, 2021
Licensee Owners List 2021: Licensees in motion
Look past the gaudy exodus numbers and it becomes clear a new shape to the advice industry is emerging. Existing models are being upended, regulatory boundaries are being redrawn and the very purpose of licensing is being reimagined. Amidst the fragmentation, a new crop of licensees are emerging that are unencumbered by the past and looking to the future.
June 03, 2021
FASEA to refund ‘unexpended’ resources to contributors
The eight institutions that fund FASEA will have any unexpended cash returned on July 1, yet the body is scheduled to continue until the end of the year.
June 03, 2021
AFA: Sweating the small stuff too costly for the SDB
If the proposed single disciplinary body goes after all breaches of law, FASEA standards and the code of ethics its cost will balloon and eventually trickle down to advisers, the association says.
June 02, 2021
Magellan systematizes bucket strategy with FuturePay play
CEO Brett Cairns explained a product design that essentially formalises a basic investment strategy – setting aside a cash reserve "to help support income in fall-back positions". Investors will be blocked from retrieving their contribution to the cash bucket, however.
June 01, 2021
‘No mean feat’: Mota confident on 406 adviser transition to IOOF
Both businesses have more in common than they do differences, CEO Renato Mota told Professional Planner shortly after IOOF announced it had completed the MLC deal Monday. 84pc of the 'target set' of advisers will transfer to IOOF licensees on day one.
May 31, 2021
