Cbus Super updates death benefits process following criticism of systemic failings
Profit-to-member fund Cbus Super has announced it is “overhauling” its death benefits process to make it faster and more straight forward for the next of kin of members, after systemic failings were revealed last year.
September 16, 2025
FSC green paper claims need independent testing: Assured Support
A financial services legal compliance firm says that the claims made by the FSC in its licensing green paper should be verified by Treasury or ASIC and that consumers care more about “clarity and fairness” than business models.
September 15, 2025
Why engaging the next gen of HNWs early is good for clients and business
Engaging the next generation early is crucial for high-net-worth advisers as it not only helps older clients to maximise wealth and prepares their children to manage assets responsibly, but also ensures longer-term profitability for the advice practice, said leading private wealth practitioners.
September 15, 2025
First Guardian retained top rating months after ASIC intervention
Financial data and ratings house FE fundinfo quietly removed a leading “five crowns” rating from a First Guardian investment option five months after the Federal Court approved a freeze order and almost a year after the trustee suspended transactions. The rating was relied upon in at least one statement of advice recommending First Guardian to consumers.
September 12, 2025
CFS weighs AI ‘winners and losers’ in asset management
Colonial First State wants to know how its external managers are using AI as it becomes more and more ingrained both in the companies they invest in and how they invest in them.
September 12, 2025
Cyber insurance a ‘must have’ – but can’t be the first line of defence
Cyber insurance is vital for repairing the damage and meeting the costs of a cyberattack, but practices and licensees need to tighten up their digital controls and train staff better to protect against incidents.
September 11, 2025
SMSF Association calls for govt funding of CSLR
The SMSF Association has called for the government and other AFCA subsectors to “meet the shortfall” of Compensation Scheme of Last Resort claims, which will require a $47 million special levy. The association argues the inequitable design of the system means there is no reason other subsectors shouldn’t contribute.
September 11, 2025
Client satisfaction offers compounding returns for advisers
Client satisfaction offers a compounding return for advice practices, as levels rise the longer the relationship progresses. However, high satisfaction doesn’t automatically prevent clients from leaving and research presented to the Netwealth Accelerate Summit showed how advisers can create loyalty that lasts.
September 10, 2025
Shield, First Guardian need to be factored into refreshed conflicts guidance: FAAA
High-profile failures like Dixon Advisory and Shield and First Guardian should be factored into ASIC’s refreshed conflicts management guidance, according to the Financial Advice Association Australia. The guidance, which hasn’t been updated for two decades, shows the need to factor in these recent failures particularly with models that have embedded conflicts, the FAAA argues.
September 10, 2025
What ice hockey and Macquarie’s infrastructure investment philosophy have in common
In ice hockey, having a 'first mover, skate-to-where-the-puck-is-going' approach means reading the game and anticipating what the next move will be rather than reacting to what has already happened. Macquarie has adopted this attitude to investing, which is most evident in the group’s infrastructure business, having been an early investor in digital infrastructure assets including data centres, data registries and fibre networks.
September 10, 2025
Getting to the next generation before TikTok does
Millennial and Gen Z consumers want to get financial advice from sources they trust, but that doesn’t automatically mean they’ll defer to a professional. With two thirds of funds under advice at risk of leaving practices in the intergenerational wealth transfer, advisers who step up now will build life-long relationships.
September 09, 2025
FAAA wants protections for advice businesses in govt non-compete reform review
As the government canvasses feedback on its plans to reform the law around non-compete clauses in employee contracts, the Financial Advice Association Australia has warned that the interests of employees needed to be balanced against the interests of the employer’s business. The FAAA suggested non-solicitation clauses in employment agreements should be capped at 12 months after an employees leaves a company, and that professional year advisers should be restricted from working for a competitor for two years after completing their PY.
September 09, 2025
