Advisers urged to consider life insurance benefits amid surging cost-of-living
A whitepaper from Zurich has found a significant financial burden associated with the treatment of many medical conditions in Australia. The report is a strong reminder about the importance of life insurance, which can be overlooked by consumers when seeking financial advice.
March 03, 2025
Adviser shortages spell trouble globally
The shortage of advisers is not only an issue in Australia as the UK and US are equally unable to meet the growing demand for advice with declining adviser numbers. The three countries have launched initiatives to attract new entrants to the profession and keep up with demand.
February 28, 2025
ASIC private markets paper weighs up retail client impact
ASIC has questioned the democratisation of private markets and whether the opportunity for retail clients is outweighed by the exposure to risk. It’s part of a sweeping paper on the impact of private markets, which raised serious concerns about private credit and anticipated there will be failures in the fast-growing asset class.
February 28, 2025
New Fitzpatricks CEO outlines growth plan
Almost six months into the role, new Fitzpatricks Group CEO Andrew Fairweather plans to drive the firm’s national strategy to create an aligned cultural environment for its advisers. Fairweather has built upon 20 years of Fitzpatricks’ history, which will see a key face return to the storied advice network to support the new regime.
February 27, 2025
Assets frozen of adviser involved in Shield failure
The Federal Court has frozen assets of financial adviser Ferras Merhi who is caught up in ASIC’s investigation into the failed $480 billion Shield Master Fund. The regulator has also targeted the former director of a marketing/lead generation company involved with the scheme.
February 27, 2025
Maximise existing tech stacks before adding shiny new tools
Before adding new tech, advice practices should complete a stocktake of pre-existing services as a desired solution may already exist. With the attraction of shiny new toys constantly coming to market, like AI, the features may already exist through pre-existing vender agreements.
February 26, 2025
If data is really the new oil, super funds better get drilling
As Treasury consults on a set of principles for delivering optimal retirement income solutions, it’s clear that super funds must develop a much deeper understanding of members. But earlier submissions to Treasury on the retirement phase of superannuation showed that funds still struggle when it comes to gathering what they need to know about members to inform important decisions, with gaps in their knowledge and difficulties accessing shared information.
February 26, 2025
‘Disappointing’ end to PJC wholesale investor review
A Parliamentary Joint Committee has made two recommendations on changing the wholesale investor test, which legal experts believe has done nothing to justify keeping the current system in place.
February 25, 2025
Coalition tax-deductible lunch plan gives bonus to advice practices
The Coalition’s election proposal to allow small businesses to claim up to $20,000 off their taxable income for meal expenses could offer small advice practices an edge with maintaining client relationships or to maintain staff happiness.
February 25, 2025
The ‘seven deadly sins’ holding back best practice
Financial advice businesses should make sure they don’t fall prey to the “seven deadly sins” which are holding back best practice and stopping firms reach their growth potential.
February 24, 2025
‘Simpler, leaner’ Iress reports profit after FY23 loss
After reporting a $137.5 million loss this time last year, Xplan-owner Iress has bounced back reporting profit growth for FY24. The gain comes as the group edges towards the end of its business simplification program.
February 24, 2025
‘No frequent flyer number’: Super fund homogeneity alienates high-balance members
The SMSF sector has capitalised on the poor service offered by APRA-regulated funds as members with larger balances look to an alternative that offers personalised advice in a uniquely customised fund, according to research from CoreData. For those members, value for money is a higher priority than pricing and are willing to pay for a premium service.
February 21, 2025
