ART looks to platform veteran for next stage of growth
Former BT executive Kathy Vincent will succeed David Anderson who is stepping down as chief executive of Australian Retirement Trust after 18 months in the role. The appointment of a CEO with experience across advice and platform offerings is also acknowledgement that industry funds will have to compete more fiercely for members at a time when those approaching retirement are increasingly being picked off by advisers who redirect them to platforms.
September 23, 2025
Coalition accuses Labor of adviser blame game
New shadow Minister for Financial Services Pat Conaghan has criticised Labor for its attacks on the advice profession and accused the government of using them as a ploy to obfuscate its own failures to act on regulatory reforms, including the managed investment scheme review and gaps in the anti-hawking laws.
September 22, 2025
ASIC calls for higher private credit standards, proceeds with stop orders
ASIC has sounded the alarm on retail distribution of private credit funds in an interim report as it commences stop orders against several products, particularly from La Trobe Financial. But the report, which offers insights into good practice, said the institutional end of the private credit market – predominantly super funds and insurers – is operating in a manner that "demonstrates good operating practice”.
September 22, 2025
Law reform needed if Equity Trustees wins Shield court action: ASIC
The corporate regulator says law reform will be needed if the court rules in favour of Equity Trustees for its alleged due diligence failure in hosting the Shield Master Fund. Equity Trustees had announced it would contest ASIC’s allegations believing that it has acted in line with its fiduciary duties and obligations under the law.
September 19, 2025
140 advisers in ASIC’s crosshairs over Shield, First Guardian
The corporate regulator has revealed 140 advisers are being examined for their role in the collapse of the Shield and First Guardian master funds, many of which have "lawyered up" in anticipation of escalating enforcement activity. But ASIC chair Joe Longo told a parliamentary inquiry that the financial advice profession should not be demonised due to misconduct of a small minority, pushing back on Labor Senator Deborah O’Neill's criticism of the profession.
September 18, 2025
When tech implementation goes ‘off the rails’
Overpromises, lack of vendor expertise, poor contracts and other red flags. The Netwealth Accelerate Summit heard how tech implementation can backfire and what advice practices can learn to mitigate these risks.
September 17, 2025
It’s time to end the tyranny of YFYS benchmarks
Treasurer Jim Chalmers’ review of the Your Future Your Super performance test must dilute the influence of benchmarks on how super funds invest members’ money by shifting the focus to total portfolio returns, write The Conexus Institute's David Bell and Geoff Warren.
September 17, 2025
Banish the ‘fear of running out’ in retirement
FORO – the fear of running out – has never been based on evidence that retirees won’t have enough money to live off in retirement, writes AMP director for retirement Ben Hillier. Like many other fears, it’s removing the understanding and misconceptions about what retirement will look like and that’s where financial advisers will play a crucial role.
September 17, 2025
Smash bad thoughts to boost retirement confidence
A mindset that likens superannuation to a water tank with a tap installed at the top, as opposed to the base, is spreading among retirees and pre-retirees with potentially disastrous consequences.
September 17, 2025
Former ASIC Commissioner confident troubled Sequoia will make significant changes
Having been appointed to chair an oversight committee for the troubled Sequoia Financial Group, former ASIC Commissioner Danielle Press is confident that the changes that will be recommended will deliver meaningful changes in the wake of the First Guardian and Shield collapses.
September 16, 2025
