Call to block super fund advice pending retirement performance test
Until the retirement products offered by super funds – primarily account-based pensions – are performance-tested by APRA, funds should be held back from offering more comprehensive personal advice to members, a new report recommends. The report, by the Grattan Institute, also recommends a government-run pension guidance service to “plug the hole” between the guidance offered by funds and the advice provided by professional advisers.
January 21, 2025
Putting forgotten regulatory initiatives back on the radar
The industry has made strong inroads to becoming a profession and there are several regulatory changes overlooked by the DBFO that could be made to better recognise this progress. Ahead of the Professional Planner Advice Policy Summit, and an impending election, the profession has the chance to put those initiatives back on the agenda.
January 20, 2025
Overseas buyers continue Aussie wealth sweep
After weeks of back-and-forth bids, Insignia will offer US private equity firm CC Capital the chance to conduct proper due diligence ahead of a potential deal. Meanwhile, Iress has announced an overseas buyer for its superannuation business.
January 20, 2025
AI boom to underpin growth in global listed real estate and equities
AI has not only presented investment opportunities for the companies working on the development of new products, but the emerging technology has greater reaching implications across multiple sectors.
January 20, 2025
Why international markets mean more opportunity
Australian investors are patriotic and will back their home market, but this comes at the missed opportunity cost presented by international equities writes Colonial First State’s Frances Taylor.
January 20, 2025
Out with ‘platform promiscuity’ in with monogamy
The “era of platform promiscuity” will be replaced by “platform monogamy” as advisers gravitate towards a single provider, advice consultancy Finura tips in the group’s annual advice tech predictions.
January 17, 2025
Coalition promises to fix CSLR costs
Days after the Financial Advice Association Australia reported a lack of transparency over whether the Compensation Scheme of Last Resort underwent an impact analysis assessment, Shadow Minister for Financial Services Luke Howarth tells Professional Planner the Coalition “will act quickly” to reduce the cost of the CSLR for advisers.
January 17, 2025
CC Capital sweetens the deal for Insignia shareholders
Insignia Financial has received another sweetened offer from CC Capital, offering $4.60 cash per share to acquire the wealth giant.
January 17, 2025
Super sector must put public interest first in SG debate
The Coalition is reportedly considering a proposal to reduce the superannuation guarantee to 9 per cent if it wins the election. Many in the industry would understandably view any such move as a partisan effort to weaken the system, but they must also be open-minded about the evidence and accept that improving quality of service is the best response to critics.
January 16, 2025
ASIC appoints career regulator as next CEO
After joining the Australian Competition & Consumer Commission as a graduate almost three decades ago, CEO Scott Gregson will move on and take the same title at ASIC. He replaces interim CEO Greg Yanco whose tenure was marked by a dispute with the Association of Independently Owned Financial Planners.
January 16, 2025
Advisers need to take lead on advocacy
The Professional Planner Advice Policy Summit will hear from the most influential power brokers in financial services about what needs to be done to achieve enhanced policy outcomes. ART’s Anne Fuchs believes more needs to be done to find common ground, while WT Financial Group’s Keith Cullen says advisers need to take the lead on advocating for the profession.
January 15, 2025
