Best practice retirement principles leave funds no excuses for not doing better
Treasury’s consultation on a set of best-practice principles for retirement income solutions sets out the things all funds should do to give members the best possible outcomes. The guidelines, if implemented, will lift standards across the superannuation industry but critics say thatfunds must also stay focused on the highly individualised needs of members.
August 13, 2025
Entireti acquires IOOF Alliances, rebrands self-license service business
Entireti has acquired Insignia Financial’s self-licensed business, IOOF Alliances, and will merge it with the licensee-to-licensee offer it picked up from AMP in the megadeal that saw the wealth giant’s licensees move last year.
August 12, 2025
ASIC ponders next steps over AFSL PI deficiencies
The corporate regulator has expressed concerns over the lack of transparency around what professional indemnity insurance cover advice licensees have with potential action to come. While ASIC said there have been some improvements with PI coverage for Australian advice firms improving, there was still also concerns over the time it takes to finalise claims.
August 11, 2025
Top tips for easing the burgeoning compliance burden
As the compliance burden on advisers gets heavier, four experts share their strategies for easing the load. Their messages are simple, and can be adapted to work seamlessly with existing processes and workflows.
August 08, 2025
Performance test review on the table
The Albanese government is expected to hold a review of the Your Future Your Super performance test within the next year to ensure super funds can invest in members’ best financial interests. While supporters credit the test for weeding out poor funds and helping to keep fees low for members, critics warn it has encouraged herding behaviour and disincentivises ESG and sustainable investment.
August 08, 2025
InterPrac cutting ties with second firm linked to Shield, First Guardian failures
Sequoia-owned licensee InterPrac is in the process of terminating its relationship with Reilly Financial, one of the advice firms under investigation by the corporate regulator as part of its response to the $1.2 billion Shield and First Guardian collapse.
August 07, 2025
More calls for regulatory reform due to Shield, First Guardian collapses
AMP head Alexis George believes the regulatory framework for responsible entities needs to be “watertight” due to the billion-dollar collapses of the Shield and First Guardian master funds. Meanwhile, shadow Minister for Financial Services Pat Conaghan has called for a “serious examination” of the regulatory framework and ASIC to understand why warning signs keep being missed.
August 07, 2025
Building, transferring and controlling wealth: Dead or alive
It’s human nature to want control over your life and money and, in some situations, power and control over others. This is especially the case where family legacy and vast amounts of wealth are at stake, but how much control can people exert over future generations after they die? Generation Life chief executive Felipe Araujo writes apparently, it's a lot.
August 07, 2025
Shield, First Guardian saga won’t deter govt from DBFO push
New Minister for Financial Services Daniel Mulino says the billion-dollar collapse of the Shield and First Guardian funds will not dampen his commitment to winding back excessive red tape in financial advice to expand access. In an exclusive interview with Professional Planner the minister says advice reform is critical to the success of Australia’s retirement system and signals fresh customer service standards in super.
August 06, 2025
Super, financial services to play key role in national productivity
The financial services sector has an important role to play in boosting economic productivity and resilience, says Assistant Treasurer and Minister for Financial Services Daniel Mulino ahead of the Albanese government’s high-profile Economic Reform Roundtable later this month.
August 06, 2025
