SQM trial will be test case for research industry
SQM Research is assessing its next steps after ASIC announced it will take the researcher to court alleging due diligence failures over SQM’s role researching the Shield Master Fund. This is the first time ASIC has taken action against a research house and a potential trial will become a test for the responsibilities of researchers and the extent to which it is viable to research multi-asset funds.
November 13, 2025
Mulino concedes Shield, First Guardian collapse will complicate advice reform
Minister for Financial Services Daniel Mulino has given his first public acknowledgement the collapse of the Shield and First Guardian master funds has impacted Treasury’s work on the Delivering Better Financial Outcomes reforms.
November 12, 2025
Another retail player announces retirement income offering as industry funds languish
Adviser platform HUB24 is developing a lifetime retirement income solution with life insurer TAL, the latest move from a platform in the retirement space with competitors AMP and Insignia Financial having already brought solutions to the market. The announcement comes as industry funds struggle to fulfill their obligations to deliver retirement products to members.
November 12, 2025
ASIC walks back the scale of adviser probe in Shield, First Guardian collapse
The corporate regulator has corrected earlier testimony from ASIC deputy chair Sarah Court that 140 advisers are implicated in the Shield and First Guardian investigations, instead clarifying that it’s “individuals and entities”.
November 11, 2025
Evidentia expands practice management capabilities with Encore acquisition
Evidentia Group, owned by ASX-listed Generation Development Group, has acquired adviser business consultancy firm Encore Advisory. The asset consultant believes the addition of Encore will help expand its practice management capabilities in market.
November 11, 2025
Death of an adviser: Planning for the worst-case scenario
Succession planning has been a key consideration for many firms, but advice practices that don’t have a plan in place could be putting themselves at risk for one of the worst-case scenarios if an adviser unexpectedly passes away.
November 10, 2025
Slimmed-down Iress launches efficiency programme ahead of CEO’s start
After shedding much of its business under former chief executive Marcus Price, Iress will enter a business efficiency program ahead of the start of CEO Andrew Russell. The new program aims to boost the firm’s profit margin to 25 per cent as the group looks for potential suitors to buy the firm.
November 10, 2025
Breach reporting dashboard leaves misconduct shrouded in mystery
ASIC’s new breach reporting dashboard shows instances of staff misconduct, negligence, and in one case financial advice fraud that resulted in $1.5 million remediation. But the businesses behind that misconduct will remain a mystery after industry pushback saw the regulator backtrack on publishing the names of firms.
November 07, 2025
When AI reads your advice: How technology is shaping the future of client engagement
Just as AI has crept into the advice process to help drive efficiency, clients are also leveraging the benefits to better understand – and sometimes to try and outsmart – their advisers. Financial adviser Sangram Rana writes there are ways to respectfully engage the clients who are using AI to review their own advice documents, particularly when the emerging technology ignores practical limitations.
November 07, 2025
ASIC’s SMSF review highlights serious BID issues
Over 60 per cent of advice files reviewed in ASIC’s SMSF review failed to demonstrate compliance with the best interests duty. The results of the long-awaited review have raised concerns about client detriment from inappropriately setting up SMSFs and the regulator will consider a “broad range” of enforcement options.
November 06, 2025
SMSF review shows clear disregard for Code of Ethics
ASIC’s latest report into SMSF establishment advice shows some advisers are either ignorant of their obligations, or they know what their obligations are but are simply ignoring them. In any case, the conduct that has been uncovered can’t just be waved away under the Code of Ethics.
November 06, 2025
Trustees-for-hire can survive Shield, First Guardian scandal: ASIC chair
In a valedictory address to the National Press Club of Australia, ASIC chair Joe Longo said he doesn't believe the Shield and First Guardian collapse will spell the end of the outsourced super trustee model. The televised speech raised the profile of the increasingly important role of platforms in capital markets and the need for them to improve due diligence.
November 05, 2025
