CSLR warned Jones on levy blowout
The head of the Compensation Scheme of Last Resort had warned Minister for Financial Services Stephen Jones the advice profession is unable to bear the burden of covering the scheme with the levy to breach the subsector cap for the next few years. However, fixing the problem will be for whoever holds the portfolio after the next election.
November 26, 2024
Insignia completes MLC Wealth separation from NAB
Insignia Financial has completed the separation of MLC Wealth from National Australia Bank.
November 26, 2024
Why outsourcing is on ASIC’s agenda this year
ASIC is set to review how advice businesses protect client data and manage offshore service providers. Nathan Jacobsen, CEO of financial advice outsourcing firm Vital Business Partners, writes we should embrace this regulatory attention which will further lift industry standards and strengthen consumer protections, and will be a good thing for everyone in the advice ecosystem.
November 25, 2024
Otivo announces executive expansion
Digital advice provider Otivo has promoted three people to it’s executive team, including chief technology officer Nathan Isterling who will now be chief information officer.
November 25, 2024
SelfWealth receives revised offer from Bell after rival bid
Selfwealth has announced it has received a revised proposal from Bell Financial Group to acquire 100 per cent of its shares for $0.25 cash per share by way of a scheme of arrangement.
November 25, 2024
ASIC sticks to its guns on AIOFP ostracism
The corporate regulator has declined its longstanding speaking position at the AIOFP conference due to an escalating row with the controversial fringe association. Professional Planner understands ASIC will now only engage with the body in writing, but AIOFP executive director Peter Johnston says the regulator is afraid to be held to account.
November 22, 2024
AMP Super shifts gear to growth with digital advice launch
The first half of next year will be a pivotal period in the reinvigoration of AMP’s superannuation division under group executive Melinda Howes, who joined the business in January this year and is driving a renewed focus on member service and engagement underpinned by a simplified product line-up and a soon-to-be-released digital advice offer.
November 22, 2024
ASIC releases updated guidance in response to DBFO act
The prudential regulator has issued guidance and updated existing guidance in response to DBFO reforms that passed earlier this year.
November 21, 2024
Fiduciary capital is not a honeypot for politicians
The government’s brazen demand that the Future Fund invest more in housing supply and renewable energy is just the latest in a string of major incursions into the institutional investment industry by politicians of both stripes around the world. While some may cheer on the flow of capital to these particular causes, it sets a dangerous precedent that undermines fiduciary independence.
November 21, 2024
