FAAA hits FOI dead-end on CSLR cost impact
The Financial Advice Association Australia has revealed it met a roadblock in a Freedom of Information request on the Compensation Scheme of Last Resort. Despite obtaining some documents on the issue, the FAAA has been unable to ascertain whether a legislative impact analysis was conducted to identify potential unintended consequences, including the hefty cost of the scheme.
January 15, 2025
MUFG Pension & Market appoints tech consultant to enhance products
MUFG Pension & Market Services has enlisted a tech consultant to help expand its retirement service arm that provides super fund administration.
January 15, 2025
HESTA, IFM Investors acquires stake in EV subscription company
HESTA and super fund-owned investment vehicle IFM Investors has acquired a stake in subscription vehicles company Splend Group.
January 15, 2025
Private equity-owned super funds will face delicate balancing act
The growing appetite of super funds to invest in private markets has been well-documented, but now we’re seeing the tables turned as private equity scours the planet for attractive assets. With eyes fixated on Australia's $4 trillion superannuation industry, its latest target is Insignia Financial. But given the hefty ROI expectations of private equity investors, we could soon see for-profit super funds on steroids.
January 14, 2025
Getting your business ready for 2025
Financial advice consultants see technology as the driving factor of profitability in 2025. As more Australians reach retirement and artificial intelligence grows in popularity, advisers will turn to tech to increase efficiency and lift the number of clients.
January 14, 2025
Almost 3000 existing advisers aim to gain credentials by 2026 deadline
Financial educators are helping several thousand postgraduate students to ensure they meet the education standard deadline, despite declining support for the sector after the passing of the experience pathway.
January 13, 2025
Bain flips the scrip with new Insignia offer
Bain’s revised offer to bridge the $200 million valuation gap between its rejected offer and frontrunner CC Capital’s bid for Insignia Financial has raised the opportunity for current investors to remain holders of the embattled wealth giant.
January 13, 2025
Bain Capital matches CC Capital bid for Insignia
Bain Capital has made a revised offer to take over ASX-listed wealth giant, Insignia Financial, matching the offer from CC Capital last week.
January 13, 2025
Articulating the ‘why’ of self-licensing
While the perceived freedom of self-licensing has benefits, the advantages of being part of a larger licensee will be foregone. This includes the bargaining power larger licensees have with third party providers, the cultural fits of responsible managers, transfer deed conditions when switching licensee, and the patience required to deal with a regulator.
January 10, 2025
Three years on from exam deadline, adviser growth remains sluggish
The stream of professional year advisers is growing since the regime was introduced six years ago, but it’s fallen short of earlier predictions from the now-defunct FASEA who proclaimed there was a pipeline of thousands of students studying approved degrees.
January 10, 2025
A ‘clean’ client book beats a big book
Despite pressure to expand the number of clients due to a shortage of advisers, an increased book size might not work for every advice practice. There’s no magic number of clients as some advisers can utilise technology to manage over 300 clients but others service fewer but charge higher fees.
January 09, 2025
Advise to survive: What planners can learn from F1
Formula 1 has remained the pinnacle of motor racing, despite ongoing criticisms of overcompliance and regulatory change. Reflecting on a keynote from FAAA Congress last year, Chris Dastoor writes how – just as the most successful F1 teams have adapted to change – so have the best financial advice practices.
January 09, 2025
