Stockbroking body CEO urges unity on exit
The stockbroking and wealth management sector must pull together to preserve and protect its interests against the ongoing headwinds of fraud and technology changes, says the outgoing chief executive of the Stockbrokers and Investments Advisers Association, Judith Fox.
July 15, 2025
Super funds still letting members down in retirement
For years the regulators have urged super funds to move faster to meet Retirement Income Covenant obligations. But Simon Hoyle writes that research from Conexus Financial and CoreData shows how a continued lack of urgency has translated into poor preparedness for and satisfaction with retirement among super fund members.
July 15, 2025
Industry funds lag retail counterparts on member satisfaction
Industry funds lag their retail counterparts on member satisfaction, despite suffering reputational setbacks from the Hayne royal commission six years ago, according to research from Professional Planner publisher Conexus Financial and CoreData. For industry funds, the issue is an inability to link members to better services in retirement, but the research has found consumers would happily use a fund-provided advice service.
July 14, 2025
FAAA says profession exposed Shield, First Guardian failures
Financial Advice Association Australia chief executive Sarah Abood says the advice profession was at the “forefront” of exposing the failures of Shield and First Guardian. The claim comes as mainstream media ramps up criticism over the lack of oversight of the $1 billion collapse.
July 14, 2025
Tackling the biggest threat to growth
There are four simple and highly effective controls that advice businesses can implement quickly and cheaply to protect clients and discourage cyber criminals from gaining access to online systems, services and data, writes VBP’s Nathan Jacobsen.
July 11, 2025
Court finds Mayfair 101 director Mawhinney broke the law
The federal court has determined Mayfair 101 Group and its director James Mawhinney contravened the law after making multiple false or misleading representations in the marketing of its products. Mayfair and Mawhinney gained infamy when plans to create a “tourism Mecca” in North Queensland unravelled during the Covid-19 pandemic, leaving investors millions out of pocket.
July 11, 2025
CSLR raises eyebrows across Tasman
Australia’s Compensation Scheme of Last Resort has “perturbed” a pair of New Zealand advice market leaders. The discovery was part of a fact-finding mission by the pair of executives who sought to learn more about how the Australia market is dealing with challenges like attracting capital, growth and the future of tech.
July 10, 2025
ASIC consults on simplifying PDS guidance
The corporate regulator has released a plan that would remove duplicate guidance covered in financial advice disclosures. The changes would retire several regulatory guides and information sheets to help simplify guidance documentations.
July 10, 2025
Profession needs to maintain ‘productive paranoia’
Green shoots are appearing for the advice profession after a transformative decade that saw the upheaval of an entire industry. But while advisers and licensees might be the beneficiaries of favourable tailwinds, the Professional Planner Licensee Summit heard they should be wary – and prepared – for another downward turn in the cycle.
July 09, 2025
Shield-connected advisers banned by ASIC
A pair of advisers from MWL Financial Services have been banned by ASIC for giving inappropriate advice in connection to the failed Shield Master Fund. Despite being found to have not acted in clients’ best interests and giving misleading statements, the bans will only cover periods of four and eight years.
July 09, 2025
Investment in advice held back by regulatory uncertainty: Bombora
Investment in advice is being held back by a lack of certainty about when the current tranche of changes to financial advice laws will land, according to Bombora Advice's Wayne Handley as he hands over leadership of the risk specialist firm to incoming CEO Niall McConville. Handley has called on the government to fast-track reform and urgently provide a timeline for the implementation of changes.
July 08, 2025
Portfolio assurance: The model portfolio imperative for clients
Model portfolios are no longer a matter of convenience for advisers and practices, they are a strategic imperative, writes Financial Simplicity CEO Stuart Holdsworth. But with their rise comes a new level of scrutiny – not just from regulators, but also from clients.
July 08, 2025
