Generation confirms purchase of Evidentia in $320m deal
ASX-listed Generation Development Group has continued its rapid expansion in wealth, confirming that it will acquire the Evidentia asset consulting business for $320 million and merging Evidentia with Lonsec's investment solutions business.
February 07, 2025
Lifting upfront commissions, simpler products needed to save risk
Risk advice has garnered a reputation of being overly onerous, complex and, ultimately, not commercially worthwhile for advisers. MBS Insurance partner Kris Mason believes there are five key fixes that would help expand advised coverage, including the option to have higher upfront/lower ongoing commissions for new firms.
February 06, 2025
Fractional leaders are the secret weapon to unlocking growth
Outsourcing has become a popular mechanism for businesses to save money, increase efficiency and gain a competitive edge, but it has typically been used to cover entry and mid-level roles. Engage Practice Management director Lena Ridley writes outsourcing can be flipped to the top of the organisational chart to supplement full-time C-suite positions.
February 06, 2025
Five mega forces impacting investors
In the lead-up to BlackRock’s annual wealth symposium, the group’s chief investment strategist for APAC, Ben Powell, underscores the five mega forces transforming the global economy. In a highly disrupted and divergent world, these core themes could present strong investment opportunities in the near term.
February 06, 2025
FAAA calls for government to financially support PY advisers
The Financial Advice Association Australia has called on the government to offer $10,000 subsidies to advice practices that take on professional year advisers, as part of its pre-budget submission. Other recommendations include access to an ATO portal for advisers, changing the ASIC levy and introducing ‘friend of AFCA’ and ‘friend of CSLR’ role.
February 05, 2025
Three’s a crowd as Brookfield joins Insignia bidding war
Brookfield has been given access to do due diligence for a potential acquisition of Insignia Financial after it presented a bid matching offers from Bain Capital and CC Capital. The offer comes despite Insignia knocking back earlier media rumours of a Brookfield bid.
February 05, 2025
UK pension scheme NEST takes 10pc stake in IFM parent company Industry Super Holdings
UK defined contribution pension scheme NEST will take a 10 per cent ownership stake in IFM parent company Industry Super Holdings and commit to significant ongoing investment in the asset manager.
February 05, 2025
Industry funds cautioned they must lift standards to meet adviser needs
Almost a quarter of members are changing funds when retiring with financial advice being the key driver. The data, presented by CoreData to a room full of the most influential super fund chairs, highlighted the need to better facilitate relationships with external advisers to retain high balance members or lose out completely.
February 04, 2025
Variable fee model set to boost WT revenues by a third
WT Financial Group attributes a 33.5 per cent revenue growth in its indicative 1H25 financial results as validation of its variable fee model which means having quality advisers will mitigate the need to have more advisers under its licensee. But CEO Keith Cullen believes one simple change to the laws could add another 10,000 advisers over the next three years.
February 04, 2025
Federal Court dismisses BUSSQ’s application
The Federal Court of Australia has dismissed the judicial review application of industry fund BUSSQ.
February 04, 2025
Reflecting on nearly half a century in financial advice
After an extensive 47-year career, Paul Harding-Davis says that while every decade has seen a significant step change that has felt like an “Armageddon” it has instead only seen the standard of the industry improve. Reflecting on his long career to Professional Planner, he is still evangelical about recruiting young people to advice.
February 03, 2025
Speed is of the essence for DBFO reforms: CALI
Ahead of speaking at the Advice Policy Summit, Council of Australian Life Insurers CEO Christine Cupitt has called on the government to progress “critical” advice legislation as fast as possible, so the industry has certainty over the future of advice.
February 03, 2025
