Brokers to challenge $1M penalties and ‘ambiguous verbiage‘
Proposed legislation banning brokers from accepting conflicted remuneration is unclear and the associated penalties are inappropriate for the work they do, industry reps say.
September 17, 2019
Advisers to abandon insurance in the face of independence disclosure
The Treasurer’s commitment to introduce legislation forcing advisers to proactively disclose a lack of independence could force many to reconsider their commissions-based insurance offerings.
September 16, 2019
Is active investing doomed?
The academic evidence is not sufficient to write-off an active approach, says ANU's Geoff Warren, it just depends on the circumstances.
September 16, 2019
87pc say robo-advice has been a fizzer
A recent Professional Planner poll asked advisers whether the impact of robo-advice on the industry has been significant or underwhelming. The response was conclusive.
September 13, 2019
Time to come clean: Upstart calls out platform conflicts
The head of WealthO2 is reproaching platform providers for accepting shelf fees and taking a cut on cash accounts. Advisers aren’t the only ones that need to strip out conflicts, she reckons.
September 12, 2019
ASIC continues its big-end-of-town focus
ASIC has revealed its current enforcement projects and investigations remain focused on the banks and AMP despite the proliferation of smaller licensees and self-licensing.
September 12, 2019
Now is the time to be a contrarian investor: Allan Gray
Finding conviction in an unloved stock is a “difficult manoeuvre”, according to Julian Morrison from contrarian fund manager Allan Gray, which counts AMP among its active positions.
September 11, 2019
Centrepoint doubles down on fee-for-service transition
After getting 86 per cent of its 227 advice businesses to sign up for a fee-for-service model, the licensee is now focusing on conflict-free models for its dealer services offering.
September 10, 2019
Managed account FUM tops $71 billion
The march towards systematic portfolio management continues, with inflows of $4.4 billion in the 6 months to July 1 bringing the total managed account FUM in Australia to a record high.
September 10, 2019
Advisers warned not to take FASEA delay for granted
Academics and providers have joined advisers in welcoming the easing of FASEA’s education deadlines, but urged them to use the extra time wisely and avoid kicking the can down the road.
September 09, 2019
The super industry’s drive for scale: Who benefits?
The argument that bigger fund leads to better returns is mixed and is largely dependent on liquidity and opportunity size. The evidence on the benefits of scale is not encouraging so far.
September 09, 2019
Not all dealer services are built the same
The head of Clearview’s dealer services provider warns that self-licensed advisers are taking a chance by using providers that rely on external professionals to get the job done.
September 06, 2019
