How the traditional family office model is transitioning to outsourcing
Shifting away from the limitations of single-family offices, outsourced multi-family offices present a more cost-effective way for advisers to provide a broader range of services.
April 29, 2025
Stockbrokers reject proposed SOA reforms, calls for Code of Ethics changes
The Stockbrokers and Investment Advisers Association has labelled Tranche 2 of the Delivering Better Financial Outcomes reforms as a “disappointing outcome from two years of regulatory review”. Underwhelmed by the replacement of SOAs, the association believes Standard 6 of the Code of Ethics will need to be removed to make the reform work.
April 29, 2025
Data integration ‘the major bugbear’ for practice efficiency
Streamlining the number of platforms or tech providers may seem a way to help mitigate inefficiency in the advice process, but using fewer vendors isn’t the panacea for firms as greater ease of access to data would allow for better client experience.
April 28, 2025
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
