Industry Updates

A strong US economy to buoy global markets in 2026: Betashares

Betashares believes the twin tailwinds of fiscal support and ongoing AI capital expenditure will continue to fuel the US economy, which in turn will buoy the global economy and global markets in 2026.

ASIC warns consumers off AFR-crowned lead generator

A company that made the Australian Financial Review list of “Fast 100” growth companies is on a list of names published by ASIC to warn consumers about lead generators. The regulator has launched a review into advice licensees using lead generation services in the aftermath of the $1 billion Shield and First Guardian collapse.

More Australians spurn advice even as SMSF establishments boom

Even as SMSF establishments scale new heights, more Australians are choosing to go their own way without the benefit of financial advice, raising concerns that unadvised trustees may fail to make the most of their super. The SMSF Association National Conference also heard that including super in the funding mechanism for the CSLR is not a good idea.

UniSuper’s digital advice offering matches SOA volume of 18 advisers

UniSuper’s digital advice offering has seen the service replicate the output of 18 human advisers since launching it last year. But the $166 billion fund, which expanded its external advice offering last year, says its digital advice proposition is complementary, not competing with human-led advice.

Why ‘the next phase of platform evolution’ is upon us

Australia’s investment platform industry is undergoing a “structural shift” as they direct their innovation efforts towards solving operational challenges for advisers, according to research from SuitabilityHub.

Despite starting on the back foot, IFS believes new license model will work

The uneasy, decades-long relationship between profit-to-member super funds and financial advisers is set to enter a new era, with industry-fund owned IFS developing a licensee offer for self-employed advisers. Having already gotten off to a rocky start and attempting to assuage adviser concerns, executive manager advice services Adrian Gervasoni believes the licensing solution is the next step in the evolution of how both sides of the industry can co-exist.

Netwealth CEO Matt Heine reflects on ‘two-speed year’

Netwealth’s decision to compensate its customers affected by the tragic collapse of First Guardian has alleviated pressure on the government’s response to the crisis. But though he does not shirk his company’s role, CEO Matt Heine tells Professional Planner that he is also proud of the quiet achievements of his team over the same period – and that Netwealth is well-placed to help advisers through whatever comes next.

HUB24 quietly limited InterPrac adviser access

HUB24 banned “certain” InterPrac Financial Planning advisers from its platform last year and ceased onboarding new practices authorised by the licensee. The revelation comes as several other platforms have blacklisted the licensee in the aftermath of the $1 billion Shield and First Guardian fallout.

Liberal’s credentials on advice reform to be tested under Taylor, Hume

Newly elected Liberal leader Angus Taylor faces an uphill battle to keep the Coalition from splitting apart again and to reinvent the party as a viable force in politics. Having strongly advocated for advice reform prior to the last election, the opposition’s performance will be closely scrutinised by the profession.

BT, AMP platforms ban InterPrac over Shield and First Guardian fallout

InterPrac advisers have now been forbidden from placing new business on five major platforms after BT and AMP became the latest service providers to blacklist the beleaguered licensee in the aftermath of the Shield and First Guardian collapse.

George’s swan song sees AMP shares plunge 26 pc

Since taking the reins of the once-mighty wealth manager AMP, chief executive Alexis George has overseen a rationalisation of the business and a rebuilding of staff morale, product quality and brand. But a 20 per cent increase in underlying profit in her final full-year result as CEO left the market cold.

The US dollar could hold the key to global equity returns

After US dollar weakness was flagged as a key theme last year, the greenback went on to record its worst first half returns since the 1970s. Betashares head of fixed income Chamath De Silva writes that for Australian investors with unhedged global equity exposures, these dynamics have meaningful portfolio implications.

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