Advice profession at tipping point of innovation mindset: Netwealth CEO
The professionalisation of financial advice has been a painful journey but practitioners and firms are starting to reap the rewards of technology-enabled client experience and practice efficiency, says Netwealth CEO Matt Heine. He told the Netwealth Accelerate Summit on Thursday that innovation has finally taken centre-stage in the profession after decades consumed by regulatory compliance.
September 12, 2024
Coalition move to kill tax adviser ethics bill fails
The Coalition-led disallowance in the Senate that would block the tax adviser ethics bill has failed. A last-ditch meeting held by Minister for Financial Services Stephen Jones on the morning of vote that negotiated the details of amendments with the professional associations was enough to sway the tie-breaking vote of Senator David Pocock.
September 11, 2024
Turning to support staff for future advisers
The pipeline of support staff to financial advisers highlights a way to convince more young people to pursue financial advice as a career. Not only is it a necessary way to help encourage more people to become advisers but creates long-term staffing solutions for career-driven employees.
September 11, 2024
FAAA launches digital platform to match consumers with planners
The Financial Advice Association has launched an upgraded 'Find a Planner' tool to help its members connect with potential clients and grow their businesses.
September 11, 2024
Creating a performance enhancing remuneration model for staff
It may seem counterintuitive but evidence shows that business that pay bonuses to all staff have a higher profit margin, writes Sue Viskovic. However, there isn’t a one-size-fits-all approach towards designing the right model.
September 10, 2024
FAAA argues record-keeping requirements too onerous
The Financial Advice Association has thrown its weight against the extension of a record-keeping class order from the regulator, arguing it’s now out of date and an unnecessary contributor to the cost of advice.
September 10, 2024
MLC Life appoints two executives
MLC Life Insurance has appointed Gerard Kerr as chief executive of individual business and Jane McGovern as its chief customer and strategy officer.
September 10, 2024
ASIC calls out product issuers on DDO compliance
ASIC has called out product issuers to ensure Design and Distribution Obligations practices are up to scratch, pointing to flawed consumer questionnaires being the catalyst for some recent interim stop orders.
September 10, 2024
Govt concessions on tax adviser ethics bill fails to appease industry
Professional associations representing tax advisers are still pushing for a disallowance vote in the Senate in an effort to block legislation that would introduce eight new ethical obligations. The move comes despite the government agreeing to make amendments after industry consultation.
September 09, 2024
CFMEU saga spreads as APRA takes First Super chair to court
First Super co-chair and former CFMEU boss Michael O’Connor has stepped down from his role at the helm of the $4.5 billion industry super fund after the prudential regulator took legal action against him for allegedly hiring a CFMEU official in the fund’s contracted work. The lawsuit suggests the aftermath of the federal government’s forced administration of the infamous construction trade union is rippling beyond Cbus to other corners of the superannuation sector.
September 09, 2024
Hostplus launches digital education tools
Industry super fund Hostplus has launched a digital education tool, SuperSmart, in collaboration with super fund licensee and advice services providers, Industry Fund Services, and Iress.
September 09, 2024
ASIC wins 95pc of prosecutions in first half of 2024
ASIC has had a success rate of 95 per cent in its civil and criminal prosecutions conducted in the first half of 2024 calendar year, securing $32.2 million in civil penalties and nine criminal convictions.
September 09, 2024
