‘Doesn’t feel right’: Managing conflicts with in-house managed accounts
After an investigation by Professional Planner revealed Viridian Advisory had commenced a structural separation of its advice and product arms, financial services legal experts say hosting in-house managed accounts is fraught with compliance risks – particularly in the case of Standard 3 of the Code of Ethics, which governs conflicts of interest.
April 07, 2025
SCA calls cyberattack ‘a failure’ by ASFA
Super Consumers Australia believes the cyberattack that hit major super funds is “a failure” by the Association of Superannuation Funds of Australia, who had previously dismissed the vulnerabilities in the system. It’s called on the government to add funds to the Scams Prevention Framework and expedite creating the mandatory member service standards.
April 07, 2025
A decade of innovation spurs managed accounts growth
The ability to customise separately managed accounts at scale using technology is coming and will accelerate the adoption of managed accounts. BlackRock looks at the global trends driving the growth of managed accounts and reflects on the past 10 years since it launched its Enhanced Strategic Model Portfolios.
April 07, 2025
Insignia platform breached amid ‘unsettling’ super sector cyber attack
Advisers have been warned as approximately 100 customer accounts on the Insignia Financial-owned Expand wrap platform have been breached in a cyberattack. The breach of the retail platform came as the industry super fund sector suffered a large and co-ordinated attack on Friday.
April 04, 2025
WT and Merchant kickstart joint venture with three-firm merger
WT Financial Group and Merchant have announced the first entity of their new joint venture: a merger of three advice practices. Titan Financial Planning, Darwin Financial & Recruitment Services and Wealth Connect Financial Services are merging to aid in succession planning and consolidate advice firms.
April 04, 2025
The $200b managed accounts market warrants more scrutiny
The adviser and investor benefits of managed accounts are well-evidenced. But the meaningful nuances between the various incarnations get lost in all the marketing noise and there are still questions around performance reporting, transparency and pervasive conflicts of interest.
April 03, 2025
Lack of private assets a ‘threat’ to firms despite regulatory pressure
Amid the regulatory pressure mounting on private markets, research has revealed 40 per cent of Australian wealth managers consider a lack of access to private assets as a “threat” to their business. The findings come as the corporate regulator is figuring out the most efficient way to regulate the sector.
April 03, 2025
Inside Viridian’s project to combat vertical integration
Viridian Advisory, widely seen as one of the nation’s leading advice boutiques, has undertaken a multi-year project to separate its advice and asset management arms. A Professional Planner investigation found a number of aggrieved former Viridian advisers had accused the firm of harbouring conflicts of interest emanating from its separately managed accounts offering.
April 02, 2025
Coalition says advice reform within 100 days of winning office
Shadow Treasurer Angus Taylor has pledged the Coalition will introduce an omnibus financial services bill that would include advice reform within 100 days should they win the Federal Election on 3 May. However, the announcement lacked further detail about which advice-specific reforms will be pursued.
April 02, 2025
Three themes driving global private infrastructure investment
The definition of infrastructure has broadened significantly in the past 10–15 years, giving investors exposure to a larger set of themes and opportunities, greater diversification, and potentially higher risk-adjusted returns, writes KKR’s Andrew Jennings.
April 02, 2025
Shield, First Guardian distributor starts referring clients
Clients of the troubled Venture Egg financial advice firm, which has drawn scrutiny from the regulator for disproportionately placing clients into Shield and First Guardian Master Funds, have been referred to licensee Infocus in a last-ditch attempt to help salvage client money.
April 01, 2025
ASIC ‘pleased to see’ industry re-assessment of private credit
The corporate regulator’s paper highlighting a growing interest in private credit resulted in welcomed industry feedback. ASIC commissioner Simone Constant says the regulator is “pleased” the industry is re-assessing the application of private credit in client portfolios.
April 01, 2025
