Acquirers attracted by cost-focused practices
Practice owners able to reshape the expense line of their businesses by creating efficiency using technology will attract the eye of acquirers and full valuations on the other side of the crisis, according to heads of prominent licensees.
June 04, 2020
Behavioural biases can be amplified in a crisis
When we don’t know which narrative is right, each one risks giving us a false sense or comfort that the one we have is right. This risk is amplified in a crisis where there is less historical reference points, Simon Russell, founder of Behavioural Finance Australia says.
June 04, 2020
‘Second sitters’ lowered exam pass rate: Glenfield
FASEA’s chief executive attributed the latest dip in exam results to a larger cohort of advisers re-sitting the exam, whose pass rate came in at around 50 per cent. Tahn Sharpe reports from the Professional Planner Digital Licensee Summit.
June 04, 2020
Code monitoring to be superseded by bigger plan
The government is putting effort into a single disciplinary body, which could be a step towards an individual licensing regime for advisers.
June 03, 2020
Madison goes to Clime
Clime has picked up Madison after a quick process to sell the business following the collapse of its previous owner, Sargon.
June 03, 2020
Scaled advice, ROAs and fintech key to industry recovery: Hume
The Minister highlighted the role of ‘single issue’ advice in bringing the industry back to life and implored ASIC to be ‘forward leaning’ in facilitating the rollout of tools advisers need to flourish.
June 02, 2020
ASIC on the hunt for unlicensed advice and scams
Executive director Joanna Bird said the corporate regulator has twin projects focused on protecting “vulnerable” consumers during the pandemic, at the Professional Planner Digital Licensee Summit this morning.
June 02, 2020
Institutional retreat leaves licensees without ‘capital keel’
The institutions’ exodus from advice has left large cohorts of licensed entities without capital adequacy and operating “unobserved” by the regulator, according to CoreData chief Andrew Inwood.
June 01, 2020
Still waiting on Madison; Iress to buy OneVue
Listed financial services technology provider Iress made an offer for OneVue which resulted in a more than 56 per cent jump in OneVue shares on Monday. A separate resolution regarding the sale of Madison Financial Group is expected to be imminent.
June 01, 2020
Financial Adviser Licensee Owners List 2020
The great wealth exit by the banks has played out in the last 12 months and is now reflected in shape of the industry as many advisers have chosen to go down the self-licensed route and many more have left the industry entirely.
May 29, 2020
Industry funds’ advice plans have not progressed
The growth of industry funds' inhouse advice businesses has been hampered while acquisitions raise governance questions and conflicted advice remains an open discussion.
May 29, 2020
Crisis spawns a pro-bono advice experiment
A move to trade licensee fees for pro-bono advice by IOOF could result in advisers engaging a portion of the population that may not have otherwise used a financial adviser.
May 28, 2020
