Mercer Super pays $11.3m greenwashing penalty
In another win in ASIC’s greenwashing crackdown, the Federal Court has today ordered Mercer Super to pay a $11.3 million penalty after it admitted to making misleading statements about the sustainable nature and characteristics in some investment options.
August 02, 2024
APRA removes additional licence conditions on AMP Super trustee
Prudential regulator APRA has removed additional licence conditions imposed on N.M. Super.
August 02, 2024
Brighter Super CEO wins annual FEAL award
Brighter Super chief executive Kate Farrar has been awarded fund executive of the year by the Fund Executive Association Limited.
August 02, 2024
Advisers and business owners often the cause of inefficiency
It may sound counterintuitive, but advisers and business owners can be the biggest root causes of inefficiency, according to a panel discussion. However, there are different solutions that can help boost effectiveness of both these crucial parts of the business.
August 01, 2024
Tax adviser ethical obligations start date pushed back
Changes due to be implemented at the start of August during the peak of tax season have been bumped after another last-minute change from the government. However, the opposition says this is another “embarrassing mea culpa”.
August 01, 2024
Opposition to consider drastic cut to CSLR sub-sector levy cap
The opposition will seek to halve the CSLR sub-sector cap and criticised the government for backing down on its promise of paying for the full first year of the scheme. Opposition Minister for Financial Services Luke Howarth said he was “pretty shocked” to learn the scheme existed and that advisers would have to pay for the misconduct of others.
July 31, 2024
Advisers shed clients but maintain profitability with rising fees
A 17 per cent rise in ongoing advice fees has led to more “manageable” books, with practices showing healthy profitability despite having fewer clients, according to research from Investment Trends. Head of research Irene Guiamatsia tells Professional Planner the healthy level of profitability shows the next generation that advice is a lucrative industry to get into.
July 30, 2024
Freshwater Wealth adds former Westpac advisers
Advice practice Freshwater Wealth has hired two partners, increasing its adviser numbers from three to five, following an influx of wealth transfer clients.
July 30, 2024
CFS signs 5 year agreement with Microsoft to improve AI usage
Colonial First State have signed a five-year agreement with Microsoft that will strengthen the company’s use of cloud and AI technologies.
July 30, 2024
