Client portals, online fact-finds tipped for greater adoption
Client portals and online fact-finding tools are expected to see significant uptake over the next couple of years, according to Netwealth’s latest AdviceTech Buyers Guide. The guide is based on the survey’s suite of “high potential” for adoption technologies which are products and services that are widely picked up by the best advice firms.
October 30, 2024
Cbus governance issues concerning: Morningstar
Morningstar has sent out a warning shot to advisers and other investors about its confidence with troubled profit-to-member fund Cbus over talent retention, governance and lack of independence from unions. The concerns come the day after the fund spruiked its new advice offering which had caught the Financial Advice Association – a key partner for external referrals – by surprise.
October 29, 2024
FAAA looks to India to pump up local adviser numbers
With industry numbers declining, the Financial Advice Association intends to combat the decrease adviser numbers by recruiting financial advisers from India and assisting the smooth addition of the new class of advisers, as proposed by the Delivering Better Financial Outcomes bill.
October 29, 2024
ASIC warns licensees of AI adoption governance gap
ASIC is cautioning licensees to ensure their governance practices keep up with their adoption of AI after its first report showed a potential gap between governance and AI adoption.
October 29, 2024
Former Iress CEO joins Profile board
Former Iress CEO and Xplan co-founder Andrew Walsh will join the board of boutique advice firm Profile Financial Services at the end of the months as independent non-executive director at the end of the month.
October 29, 2024
Cbus’ $990 retirement advice underpinned by intrafund
Profit-to-member super fund Cbus has unveiled a new advice offering which it says gives members the option of middle ground retirement guidance without paying external advice fees, but the fund’s retirement advice senior manager Kristin Bishop says the relatively low price point is a function of the fee subsidisation in its intrafund advice model.
October 28, 2024
Federal Court rules HCF Life contract term was liable to mislead public
The Federal Court has found that a ‘pre-existing condition’ term in a few HCF Life Insurance Company policies was liable to be misleading.
October 28, 2024
Half of global advisers threatened by intergen wealth transfer
The impending intergenerational wealth transfer is considered an “existential threat” for advisers around the globe, according to the Natixis 2024 Global Survey of Financial Professionals. Advisers are focused on keeping client heirs on the books and bringing in new clients to continue growing their business.
October 28, 2024
ASIC offers FSG clarification after DBFO leaves ambiguity
ASIC has clarified the distribution of Financial Services Guides is not required when dealing in financial products as a result of providing financial advice. The Financial Advice Association welcomed the distinction but noted that it is temporary measure and hoped the government will step up with a permanent fix.
October 25, 2024
AMP makes senior hires in super and investment team
AMP has made two senior appointments to its super and investment team, reporting to group executive of the division Melinda Howes.
October 25, 2024
CALI board elects co-chair and three directors
The board of the Council of Australian Life Insurers has appointed MLC life insurance chief executive Kent Griffin as co-chair, sharing the position with AIA Australia CEO Damien Mu.
October 25, 2024
