‘Long feared’: CSLR subsector levy to blow $20m cap
The Compensation Scheme of Last Resort has estimated the FY26 cost recovery levy to exceed the $20 million cap, meaning the government will have to use its discretionary powers to cover the excess. The Financial Advice Association has called for any surplus to spread across a broader range of sectors.
October 23, 2024
IMF warns of liquidity issues in super
The International Monetary Fund has warned that “liquidity mismatches” are brewing within Australian super funds, as the UN finance agency expressed worries that members might be able to switch out of investment options with too much flexibility considering funds’ substantial investments in illiquid assets. But super industry leaders say the nation’s unique system is well-equipped to handle itself.
October 23, 2024
The confidence game: Taking charge of client conversations on pricing
As the cost of doing business continues to rise, advice practices need to keep on track with their own pricing. Advice business consultant Richard Abbey writes having conversations with clients about fees doesn’t have to be awkward and is a further opportunity to articulate the benefits of the service provided.
October 22, 2024
NZ Super appoints co-CIOs
Kiwi sovereign NZ Super has appointed two joint chief investment officers following the departure of previous CIO Stephen Gilmore who joined CalPERS earlier this year.
October 22, 2024
The moral case for boosting advice productivity
The profession has a key opportunity to make advice more accessible by driving productivity without worrying about regulatory change, a Professional Planner roundtable has heard. But will advisers be more enticed to take on more clients, if they can serve fewer while making the same money?
October 21, 2024
FAAA calls for stronger aged care regulations
The Financial Advice Association has called for stronger regulations to ensure only licensed professionals can provide aged care advice. The call backs a consultation paper by Aged Care Steps who earlier this year noted the “worrying trend” of unlicensed and unregulated businesses being able to deliver services in the space.
October 21, 2024
My Dealer Services appoints head of strategy after commitment to growth
My Dealer Services has appointed Ashley Mahadeea as head of strategy as the firm looks to grow its depth of services and number of self-licensed advisers.
October 21, 2024
Shadow Treasurer receives swift rebuke from compulsory super true believers
A reference to American-style voluntary retirement plans by Shadow Treasurer Angus Taylor has drawn a swift rebuke from true believers of compulsory super, but Taylor insists he is still a supporter of compulsory super, albeit for purposes other than just retirement savings.
October 18, 2024
Tackling retirement income, gender gap key to better super system: Mercer
Australia is no longer the top retirement system in Asia Pacific – the first time that has happened since the Mercer CFA Institute Global Pension Index started tracking and ranking the competence of pension systems around the world. Mercer partner and lead author of the report, David Knox, said superannuation can do better in areas like providing retirement income projection and unisex annuity rates.
October 18, 2024
REST appoints interim chief investment officers
REST has appointed two interim chief investment officers following the announcement that Andrew Lill, its CIO for the last five years, will depart the fund in November.
October 18, 2024
Coalition reference to 401(k) ignites fears of voluntary super
Shadow Treasurer Angus Taylor has invoked the US 401(k) scheme in comments about the controversial 'super for housing' policy, raising eyebrows about a broader Coalition push for voluntary super. Though likely a throwaway line, Aleks Vickovich writes the reference may also signal aspirations of the party rank-and-file to overturn a landmark Labor achievement.
October 17, 2024
