ASIC to target ‘unsuitable’ super advice in 2025
The corporate regulator has highlighted “unsuitable” superannuation advice amongst its key issues for 2025, underscoring the increased threat of high-pressure sales tactics and social media algorithms.
January 29, 2025
‘20 or 30 buyers to every seller’: M&A demand still heightened with limited supply
With demand far outweighing supply, advice practice M&A is still a hot market for sellers. But despite seeing strong demand, M&A experts caution that buyers have become much more sophisticated and know what they want and are often backed by overseas equity.
January 28, 2025
‘Massive win for consumers’: Govt cracks down on super fund claims delays
The Albanese government has launched a pre-election crackdown on poor member services in the superannuation sector, especially delays in processing death benefit and insurance claims, as it looks to introduce new “mandatory and enforceable” industry standards. The new rules, which followed regulatory enforcement action against Cbus and AustralianSuper's self-initiated claims compensation scheme, was described by consumer advocates as a “massive win”.
January 28, 2025
Insignia appoints chief technology officer
ASX-listed wealth manager Insignia Financial has confirmed the appointment of Damien O’Donnell as chief technology officer.
January 28, 2025
The controversial Fair Work case with implications for advice businesses
A recent ruling by the Australian Fair Work Commission has serious implications for advisory firms that outsource or plan to outsource work to independent contractors, writes Vital Business Partners CEO Nathan Jacobsen.
January 24, 2025
HUB24 ‘always planned’ to fold Xplore into existing services
HUB24 says its decision to wind up MDA provider Xplore Wealth and combine its functions with its existing services was not a strategic shift. Institute of Managed Account Providers chair Toby Potter says MDAs are better suited to "conventional platform arrangements".
January 24, 2025
Advisers call for government action against property spruikers
Ahead of the federal election, there are mounting calls from professional advisers for the next government to better regulate property transactions to prevent more clients falling prey to high pressure sales tactics and misleading social media ads. The campaign follows ASIC's warning that high pressure phone-based property spruiking operations are on the rise.
January 23, 2025
Bain still in the hunt for Insignia after matching CC Capital offer
The back and forth continues in the battle to acquire Insignia Financial as Bain Capital has hit back with another revised offer of $4.60 per share, matching CC Capital’s recent offer. Consequently, Bain have been allowed to do the same due diligence CC Capital was permitted while Insignia considers both proposals.
January 23, 2025
Iress sells superannuation business
Listed technology group Iress will sell its superannuation administration business to Apex Group, a company that offers a range of financial services and solutions.
January 23, 2025
Managing conflict and challenging client situations
Every financial adviser has faced a challenging client interaction in their career. Whether it's reigning in bold suggestions or expectations from clients, managing these interactions require tact and nuance to prevent negative consequences.
January 22, 2025
CSLR changes and a ‘red tape razor gang’ headline FSC policy wishlist
The Financial Services Council has called for reviewing the Compensation Scheme of Last Resort and addressing adviser education pathways in its policy wishlist. It's among several recommendations that will require the creation of a “red tape razor gang” to streamline “inefficient” regulation which the council believes will help drive economic growth.
January 22, 2025
