Industry Updates

SMSF advice ‘not hitting the mark’

The number of SMSF trustees that want financial advice is growing according to Investment Trends CEO Michael Blomfield, while the number of trustees using advice is shrinking. The disconnect is "problematic", he says.

ASIC fine with extra advice fee compliance doc

The regulator has confirmed it is aware super funds are sending letters out to licensees asking them to confirm that every member has received the advice they paid for before the fund will release the fees. But ASIC’s blessing came with a warning.

‘I don’t mention I’m from AMP’

Advisers licensed by AMP admit the latest round of scandals has made them reluctant to admit their link to the company. Yet most think De Ferrari is still the man to lead the institution back from the brink.

Local super industry leading the world on mental health during Covid-19

It is a difficult time, but also a time of excitement for mental health advocates, who say Covid-19 is catalysing deep change among business leaders, policymakers and the broader community in how to address mental health.

Carden Calder has shown her greatest strength at home

Because hearing people talk about their personal challenges has been an enormous help to Carden Calder, the communications executive has decided to open up about her own personal situation in the hope it will help others too.

Dislocation throwing up private equity opportunities: Armitage

MLC has been dialing up its exposure to private equity over the past 12 months, something the group's CIO Jonathan Armitage expects will continue as the market dislocation throws up more opportunities to diversify away from public markets.

ASIC reveals grandfathered commissions review agenda

The regulator submitted a response to question from the PJC in October last year that sheds light on the parameters for its review into grandfathered commissions, which ASIC has prioritised during the pandemic.

De Ferrari admits culture hasn’t been the priority at AMP

During H1 results calls the AMP boss revealed “recent events” have led to cultural reform overtaking operational reform on the priority list, and that an expected 30 per cent reduction in advisers won’t “materially affect” outflows.

Fear of a COVID-related suicide pandemic: Mental health advocates

A group of psychologists, social workers, industry leaders and mental health experts have come together to address the mental health crisis that lays beneath the pandemic - this is the first in a series of articles designed to start a broader conversation about this important topic.

Resilience is learned, not inherent: Olympian Alisa Camplin

Australian Winter Olympic gold medallist Alisa Camplin has drawn on all her techniques for managing stress in her sports career using performance psychology to manage her mental health in light of the impacts from COVID.

Class action to take remediation out of banks’ hands

A lawyer leading the case against AMP, Westpac and CBA explains the nature of the class action’s investigation and points out the problem with asking institutions to run their own remediation programs.

Let RoAs cover basic questions for non-advised members: ASFA

The super fund association will lobby for all advisers – fund or otherwise – to be able to use RoAs for a specific set of common member enquiries, regardless of whether an SoA is in place.

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