New federal government needs to act to cut red tape for financial advisers
The next federal government needs to act quickly to bring hope to the profession by cutting excessive red tape and compliance requirements, writes Financial Advice Association Australia chief executive Sarah Abood. Without this, advisers won’t be able to deliver affordable advice to millions of Australians.
April 28, 2025
Why PE investors are going downtown for deals
For many high-net-worth individuals, the family business represents a significant chunk of their wealth, and the wealth of friends and colleagues. They have seen, first-hand, the many potential benefits of private investment, contributing to the growing wholesale support for private equity, writes Claire Smith, head of business development, private markets, Schroders.
April 28, 2025
The frontrunners to replace Stephen Jones as Financial Services Minister
Whatever the outcome of the federal election, there will be a new minister overseeing the superannuation and financial services portfolio given the resignation of Stephen Jones from politics. With the financial advice reform project incomplete and a raft of contentious super policies afoot, the identity of the next minister will have major ramifications for industry.
April 24, 2025
Court hands down $11m penalty for conflicted SMSF property advice
The Federal Court has ordered an advice firm formerly known as Equiti Financial Services pay an $11 million penalty for conflicted and “cookie cutter” advice which gave bonuses to advisers who rolled over clients’ super into SMSFs to buy property through a related entity. The firm had its AFSL cancelled last year, following payments from the Compensation Scheme of Last Resort.
April 24, 2025
Advisers need to promote value of advice directly to MPs ahead of election
The issues affecting financial advice don’t make daily front page news in capital city newspapers or lead the political coverage on the 6pm nightly bulletins – in fact, most members of parliament have no idea what a financial adviser does. But people who know the ins and outs of the political process believe there is an important role advisers can play in educating politicians about the value of the profession.
April 23, 2025
DBFO Tranche 2 fills gap in super fund retirement guidance and advice
Tranche 2 of the Delivering Better Financial Outcomes reforms establish a foundation for provision of financial advice to super fund members who would otherwise miss out. However, The Conexus Institute's David Bell and Geoff Warren write that funds still need to rise to the challenge of using an expanded capacity to better assist their members.
April 23, 2025
Advice businesses stunted by ‘Peter principle’
Corporatising a mid-tier advice firm requires unique skills and experience, requiring advice principals to make the choice to either be a great adviser or a great CEO. At scale, they can’t do both, according to Vital Business Partner’s Nathan Jacobsen.
April 22, 2025
FAAA election hub tracks advice-related positions of candidates
The Financial Advice Association Australia launched the Federal Election Hub, outlining the policy positions for candidates running in the upcoming Federal Election. The Coalition offered the FAAA a detailed letter outlining their responses to each policy position, which largely align with the association’s goals.
April 22, 2025
Teal independent backs DBFO, CSLR changes
In a sign there is support for financial advice reform outside the major parties, independent Teal MP Allegra Spender says she believes in fixing the Compensation Scheme of Last Resort, changing the education standard and finalising the Delivering Better Financial Outcomes as “urgent” priorities. While happy to back some policy changes, the Member for Wentworth says she has also worked to prevent some of the “less good ideas” to progress.
April 17, 2025
Research pinpoints the Big Three factors for attracting and keeping members
The factors that attract new members to a superannuation fund are broadly the same as the factors that keep them there, with the proviso that funds communicate effectively about how they’re going on those factors. Research produced jointly by CoreData Research and Conexus Financial, publisher of Professional Planner, has found value for money is currently top of members’ minds.
April 17, 2025
Centrepoint deal proposes Brighter future for fund members
Centrepoint Alliance has entered into a deal with Brighter Super that could see up to 400 members transition to external advice partnerships. The super fund is conscious of the risk members could move at the recommendation of an external adviser, but is confident its value proposition hold up.
April 16, 2025
Platform competition to intensify: Morningstar
Morningstar expects competitive pressure to gain on ASX-listed platforms HUB24 and Netwealth as institutional players gets stronger after spending years re-developing their systems. But as the sector competes, it must also contend with external factors like market volatility due to tariffs implemented by US President Donald Trump which impact asset-based fee revenue.
April 16, 2025
