Industry Updates

Nominations open for inaugural FAAA awards

The Financial Advice Association has launched its inaugural FAAA Awards program, designed to recognise members who deliver the highest standards of professional and trusted advice to Australian consumers, and those who are going above and beyond to support their local communities.

Over 250k Rest members get more super from $450 threshold change

Profit-for-member fund Rest has estimated that up to 260,000 of its members are now receiving their full super entitlements due to the removal of the monthly income threshold of $450 on 1 July 2022.

AMP agrees to $110m settlement in shareholder class action

AMP has agreed to settle the shareholder class action brought after the Hayne royal commission in 2018 for $110 million.

CFS strengthens investment team

Colonial First State has appointed John Iles and Al Clark as head of cash management and derivatives, and head of investments, respectively. 

Zenith CEO steps aside

Zenith Investment Partners chief executive David Wright will step down from his role at the end of year and transition to the role of investment director.

ASIC announces several leadership changes

ASIC has made several executive appointments to its leadership team across markets supervision and small business enforcement.

ART aims to double sustainable investments team

Industry super fund Australian Retirement Trust is aiming to double the size of its sustainable investments team, with eight new roles planned.

Former ASFA head picks up MD role at Accenture

Former Association of Superannuation Funds of Australia CEO Martin Fahy has joined technology and consultancy group Accenture as managing director for strategy and consulting.

TelstraSuper revamps MySuper lifecycle

TelstraSuper will raise the ages for member exposure to growth assets for its MySuper lifecycle products.

Mirae injects funds into Stockspot

Robo-adviser Stockspot has received a major strategic investment from asset manager Mirae Asset Global Investments.

ASIC proposes to extend DDO instrument

ASIC is inviting industry feedback on a proposal to extend the operation of the ASIC Corporations (Design and Distribution Obligations Interim Measures) 2021/784 instrument for a further five years.

IFS partners with BCG to improve education & advice

Industry Fund Services has partnered with global consulting firm Boston Consulting Group to help improve how profit-to-member super funds find new ways to improve the delivery of financial education and advice.

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