Industry Updates

CFS partners with Viridian to help unadvised FirstChoice members

Colonial First State has announced an arrangement with Viridian Advisory to allow CFS FirstChoice superannuation, pension and investment members who do not have a financial adviser to access one-off, topic-focused advice.

November 04, 2024

Insignia nabs TAL talent for new MLC strategy team

Insignia Financial has picked up talent from life insurer TAL to create a new strategy and innovation team with a focus on driving innovation in retirement solutions for the MLC Wealth brand.

November 04, 2024

APRA data shows external advisers underutilised by profit-to-member funds

APRA’s latest fund-level expenditure data shows retail platforms continue to hold the lion’s share of externally advised client money, while only three profit-to-member funds spent more than $1 million on external advice fees.

November 01, 2024

E&P shareholders vote in favour of ASX delisting

Shareholders of Evans and Partners, the parent company of disgraced vertically-integrated advice firm Dixon Advisory, have voted in favour of delisting from the ASX. Leadership encouraged the option after mounting controversies and ongoing scrutiny plagued the share price of the troubled firm.

November 01, 2024

AustralianSuper chief retirement officer departs

AustralianSuper's first chief retirement officer, Shawn Blackmore, is leaving after 17 years with the super fund.

November 01, 2024

How the AI boom differs from the dotcom bubble

Stockpicker Peter Bates, a global equity portfolio manager at T. Rowe Price, has reduced exposure to AI hardware providers like the much-hyped Nvidia, believing lofty valuations are becoming problematic. But he says the AI boom is not a bubble since it is funded primarily by the real cashflows of household name giants like Microsoft and Meta.

November 01, 2024

Key considerations for global equities beyond the US election

The prospect of a new president in the White House has loomed large on investors’ minds. Beyond the US election, however, what might 2025 bring? David Eiswert writes the powerful investment trends of artificial intelligence and GLP‑1s, along with recent economic policy measures, are reasons to be more sanguine about the outlook.

November 01, 2024

Large-caps driving investor interest in emerging megatrends

Big name companies continue to be the focus of interest for investors keen to lift exposure to secular trends like artificial intelligence and anti-obesity drugs. The absence of near-term competition and lack of clarity on how these technologies will develop in the longer term means investors continue to pile into a handful of companies.

November 01, 2024

Smaller AFSLs reporting more breaches

After vocal pressure from the corporate regulator over the last couple of years, more smaller licensees are beginning to contribute more reported breaches to ASIC. However, the third annual reportable situations regime report shows they are yet to fully catch up.

October 31, 2024

Licensees, keep an eye on your AI governance

ASIC’s latest report into AI governance shows that licensees have assessed risks through the lens of the business rather than the consumer. A compliance expert believes licensees will need to remain vigilant with governance as the technology develops rapidly.

October 31, 2024

Deakin University dominates AMP University Challenge

Teams from Deakin University have taken first and second place in AMP’s 2024 University Challenge.

October 31, 2024

Last leg of advice reform must be held out in the open

The multi-year process to reform financial advice laws has been hindered by a closed-door, secretive process tightly controlled by public servants and industry lobbyists, including the unorthodox signing of non-disclosure agreements. The new Professional Planner Advice Policy Summit will bring the debate into the public domain, allowing all advice stakeholders to have their say in what should be a transparent and democratic policy development process.

October 30, 2024