Sequoia chair resigns amid InterPrac turmoil
Mike Ryan, chair of ASX-listed Sequoia Financial Group which owns under-fire InterPrac Financial Planning, has resigned from the company as the group grapples with multiple legal troubles in the aftermath of the $1 billion Shield and First Guardian collapse.
May 27, 2026
PFAN adds life insurance stalwarts to board
The Pro Bono Financial Advice Network has added life insurance stalwarts Eima Alkheder and Ben Donald to its board, as the group continues its expansion and mission to assist Australians with serious illness or disability to access pro bono financial advice.
May 27, 2026
Markets looking through turbulence as earnings growth underpins equities: AMP
Despite geopolitical turbulence, markets are avoiding short-term turmoil and reacting to the underlying fundamentals showing the strength of major economies, a pair of AMP investment executives told the Professional Planner Managed Accounts Decoded podcast.
May 26, 2026
SMC calls for outright ban on lead generators in financial services
The Super Members Council has pushed back against the government’s proposal that would require lead generators to be licensed, arguing the practice should be outright banned. The industry fund lobby group has also called for “targeted carve outs” to protect super fund member communication.
May 26, 2026
The missing role of judgement in financial advice
Financial advisers inhabit a vast world of technical compliance and many believe that if they can just tick every box and satisfy every technical requirement, they will have adequately discharged their obligations. But Templestone CEO Shivi Malik writes the reality is this is never enough.
May 25, 2026
Investigate social media companies for Shield, First Guardian collapse: FAAA
The Financial Advice Association Australia has called for an investigation into the involvement of social media platforms in the $1 billion Shield and First Guardian collapse, arguing those entities profited from selling ads without taking any accountability for investor losses.
May 25, 2026
Budget funding for MIS oversight no ‘silver bullet’: ASIC
Funding in the budget for managed investment scheme (MIS) oversight won’t be a “silver bullet” to protect investors and the regulator needs more powers to deal with MIS registration, ASIC deputy chair Sarah Court told Professional Planner in one of her final interviews before she becomes chair.
May 25, 2026
AIOFP picks DASH for white label platform after InterPrac platform blacklists
The Association of Independently Owned Financial Professionals has selected DASH as the platform partner for its white label platform after InterPrac Financial Planning advisers faced industry blacklists from major providers. The association is considering plans to use the profits from the platform to create an “adviser defence fund”.
May 24, 2026
ASIC sues Equity Trustees for First Guardian due diligence failures
Equity Trustees has argued it’s a victim of the $1 billion Shield and First Guardian collapse and that the funds fraudulently passed due diligence. But ASIC’s latest court proceedings against the trustee allege it was required to investigate any fraud-related risks.
May 21, 2026
Suspensions and redemption queues ‘speed bumps’ on private credit road: Blue Owl
It is fair to be concerned about private credit fund suspensions and redemption queues, Blue Owl head of alternative credit Ivan Zinn says, but he believes that two years from now they’ll be looked back on as nothing more than a “speed bump” on a highway of growth and strong returns.
May 21, 2026
Court clears way for sale of First Guardian director’s $9m house
The Federal Court has approved the sale of the house of First Guardian head David Anderson, which he bought for $9 million in 2020. However, several creditors are owed before investors see any of the proceeds.
May 20, 2026
Opposition warns against ‘regulating for the evil of the 2 per cent’
Shadow Minister for Financial Services Kevin Hogan says that the Coalition will resist any regulatory overreach in the wake of the Shield and First Guardian collapses, keep the government's feet to the fire on advice reform, and that it believes SMSFs should be included in the Compensation Scheme of Last Resort.
May 20, 2026
