Iress sees profit lift after contentious pricing reset
Xplan owner Iress has revealed a stronger profit margin in its wealth division, working to increase revenue by resetting long-standing pricing arrangements and reducing operating expenses. The adviser software provider has moved to a “fairer and more equitable” pricing model rather than an unwieldy model of unique arrangements.
August 19, 2024
Libertas becomes first AFSL cancelled due to CSLR claim
Libertas Financial Planning is the first AFSL to be cancelled by the regulator due to an unpaid determination that has gone to the Compensation Scheme of Last Resort, further highlighting a glaring loophole that has plagued the design of the scheme.
August 19, 2024
ASIC takes down over 7000 scam websites in past year
Marking the first anniversary for its strategic focus on scam disruption, ASIC has announced the takedown of more than 7300 phishing and investment scam websites that aim to trick consumers into giving up personal information.
August 19, 2024
Aware Real Estate acquires industrial land in Victoria
Aware Real Estate, in partnership with Barings, has acquired a $600 million industrial estate in Melbourne’s North.
August 19, 2024
Fixing retirement ‘70 pc advice, 30 pc product’: Jones
Minister for Financial Services Stephen Jones told a room full of the largest super funds that although there are “pockets of good” no one in the industry has perfected a retirement strategy and that advice will be central to the proposition. Jones’s comments come as he gathers support for the impending second tranche of DBFO legislation with Parliamentary sitting days before the next election running out.
August 16, 2024
World-class retirement system won’t happen by accident
As regulators continue to heap pressure on super funds to “quicken the pace” of efforts to help members transition to retirement, the Conexus Retirement Conference concluded that the funds making most progress are those taking the task most seriously. The launch of a new media title aims to assist the goal of building the world’s best decumulation system.
August 16, 2024
ART appoints chief financial officer
Australian Retirement Trust has selected Phil Fraser as its chief financial officer, following current CFO Anthony Rose’s decision to explore other opportunities.
August 16, 2024
Principals’ Community encourages making CSLR payments ‘under protest’
The Principals’ Community has received legal advice that advisers accompany payment of Compensation Scheme of Last Resort levies with a "payment under protest and without prejudice" notation to avoid compromising any legal rights they may forego if they choose to take further action in future.
August 15, 2024
Professional bodies call Jones out on claims of consultation
A coalition of 10 professional bodies, including the Financial Advice Association and the SMSF Association, say it is wrong to claim they were consulted on contentious additions to a code of professional conduct requiring them to “dob in” clients.
August 15, 2024
Vanguard Super announces Duffield departure from board
Vanguard Super (VSPL) has announced that Jeremy Duffield has departed the VSPL Trustee Board, where he was a director.
August 15, 2024
Super funds, not advisers, on the hook for retirement: APRA
The prudential regulator has made clear to a room full of the biggest super funds in the country that they are obligated to have a strategy that works for all members from high-net-worth to low balance members. The message to the Conexus Retirement Conference was simple: outsourcing to external advisers will not fulfill their Retirement Income Covenant obligations.
August 14, 2024
Trustee boards must have retirement expertise: ASIC
ASIC Commissioner Simone Constant says super fund trustee boards, and not just management, must be held accountable for helping members transition to retirement and therefore must have the requisite skills. The comments to the Conexus Retirement Conference came as the regulator urged the super sector to view their members as “customers” instead.
August 14, 2024
