Centrepoint targets 5-10 adviser ‘sweet spot’ for acquisitions
Having bucked the trend of pursuing equity stakes or variable licensee fees, Centrepoint Alliance has identified salaried advisers as its key growth channel. CEO John Shuttleworth tells Professional Planner it’s “sweet spot” for acquisitions are practices with five to 10 advisers.
September 06, 2024
AMP BOLR settlement upheld
AMP’s $100 million Buyer of Last Resort settlement has been upheld by the Federal Court.
September 06, 2024
August adviser exam sees 62 per cent pass rate
Some 62 per cent have passed the August sitting of the ASIC adviser exam, the lowest since the November 2022 sitting when 57 per cent passed.
September 06, 2024
Industry farewells legendary journalist and publisher
Superannuation and financial advice industry leaders were among the hundreds of mourners at the funeral of Greg Bright in Sydney’s eastern suburbs on Thursday. Leng Ohlsson, one of countless journalists and employees mentored by Bright, reflects on a man who cared about people first and foremost – even willing to occasionally prioritise friendship over the story.
September 06, 2024
Four out of 10 bodies got it right – here’s why
Six out of 10 industry associations took out a full page ad this week criticising the government’s tax practitioner reforms. It was a complete miscalculation ahead of the meeting with Minister for Financial Services Stephen Jones on Friday and the key adviser-based associations were smart to not participate.
September 05, 2024
FAAA pushes for ABS classification of advisers
The final consultation of the Australian Bureau of Statistics review of proposed changes to the Australian and New Zealand Standard Classification of Occupations will include the introduction of the occupation of “financial adviser/planner” and “paraplanner”, which the Financial Advice Association has pushed for.
September 05, 2024
REST appoints strategy and data leaders
Super fund REST has appointed Kareene Koh as general manager of strategy and Florence La Carbona as general manager of data and insights.
September 05, 2024
How the last AFA president re-discovered his mojo post-merger
Following an “existential crisis” after finishing up with the AFA in the wake of its merger with the FPA last year, it took former AFA national president Sam Perera a few months to regain match fitness and re-integrate himself 100 per cent into his advice business Perera Crowther. While Perera’s role in the merger left him exhausted, his advice to his peers is to get involved with the new organisation.
September 04, 2024
Cbus faces SIS Act breach if CFMEU board seats remain vacant
The $94 billion Cbus super fund may breach the SIS Act if three employee-representative vacancies on the board of its trustee, United Super, are not filled within 90 days. The risk has emerged following the forced administration of controversial trade union the CFMEU, and APRA-imposed licence conditions on United Super and BUSSQ.
September 04, 2024
Zurich Australia appoints chief risk officer
Zurich has appointed David Wainwright as its chief risk officer for Australia and New Zealand.
September 04, 2024
Former ASIC Commissioner to chair Insignia trustee board
Insignia Financial has appointed former ASIC Commissioner Danielle Press as chair and non-executive director of the Insignia Financial trustees.
September 04, 2024
Fitzpatricks appoints CEO
Fitzpatricks Financial Group has appointed Andrew Fairweather as chief executive.
September 04, 2024
