Push to serve 200 clients throws adviser burnout risk into spotlight
An imbalance between the demand for financial advice and the number of professionals available to provide it is making burnout increasingly prevalent across the industry as advisers are asked to see as many as 200 clients a year. Practice leaders are paying closer attention to staff well-being as psychological safety is not only a workplace culture concern, but also a legal obligation.
August 05, 2025
FSC raids ASFA in battle for super supremacy
The Financial Services Council has recruited a trio of Association of Superannuation Funds of Australia staffers as the rival lobby groups compete for peak body status in the fractured and politically charged $4 trillion sector. The raid follows the FSC’s hire of former ASFA commercial director Justine Earl-Smith late last year and addition of CareSuper and Brighter Super to the FSC membership.
August 05, 2025
Dissecting the CSLR’s most contentious special levy option
There are four core options for funding the Compensation Scheme of Last Resort’s special levy that Treasury is reviewing, which would cover the $47.3 million excess for FY26. Previous consultations found the most contentious option would be spreading the excess levy across other subsectors, but the latest paper shows exactly how much of a cost that would be across the broader financial services industry.
August 04, 2025
Aware’s TelstraSuper takeover is a high stakes game for both funds
Having walked away from one well-advanced merger this year already, pressure is on the TelstraSuper board to make its latest merger proposal stick. But as it bids to compete with the two largest mega-funds, Aware Super is feeling the heat too.
August 04, 2025
Troubled Sequoia presses former ASIC Commissioner into governance service
Former ASIC Commissioner Danielle Press will lead a dedicated committee to enhance oversight and governance at Sequoia as it tries to lift standards in the wake of the Shield and First Guardian scandal.
August 01, 2025
Govt launches CSLR special levy consultation
Treasury will canvass industry views on how the excess Compensation Scheme of Last Resort levy should be covered. The consultation comes as the minister is yet to conclude the pre-existing review into the scheme.
August 01, 2025
Update needed for 20-year-old conflicts regulatory guide
The corporate regulator’s private markets surveillance work has triggered a consultation into updating its conflicts of interest guidance for licensees. The guidance was last updated over 20 years ago and ASIC wants a fresher and clearer standard AFSLs can use to identify, manage or avoid conflicts of interest and to make sure clients and members are treated fairly.
July 31, 2025
Govt hints at broader CSLR as ASIC ramps up ‘gatekeeper’ scrutiny
New Minister for Financial Services Daniel Mulino has acknowledged investment losses are caused by many “different parts of the ecosystem” beyond advice, with potential implications for the Compensation Scheme of Last Resort. Meanwhile, ASIC chair Joe Longo says the standards of “gatekeepers” must be raised to prevent events such as Shield and First Guardian – which are dominating claims going to the CSLR – from happening again.
July 30, 2025
Mulino proves to be continuity candidate on DBFO
New Minister for Financial Services Daniel Mulino has listed financial advice reform as among the top priorities of his tenure and says he will honour the work already progressed by the Albanese government in its first term. But those who criticised the slow pace of reform under his predecessor Stephen Jones may be underwhelmed by the indicative timeline.
July 30, 2025
FSC ‘misremembered’ the royal commission in AFSL green paper
The industry has welcomed proposals to overhaul the advice licensing regime, contained in a green paper published by the Financial Services Council. But there is some cynicism over the motives behind the recommendations as the association now includes some of the largest licensees in the country among its members.
July 29, 2025
Fabig steps back from Fitzpatricks Advice Partners
Fitzpatricks Advice Partners general manager Jasia Fabig will step down from her role to take on a part-time consultancy role with the licensee. Group CEO Andrew Fairweather will take on the added responsibility of running private wealth subsidiary while Fabig will focus on assisting the group’s practice principals as a high-performance coach.
July 29, 2025
