Industry

Most advisers to be exempt from new claims handling AFSL rules

Confusion around new rules for claims handling – and misleading press coverage – has led many advisers to believe they need to apply for a new AFS licence. Association heads have confirmed Treasury is set to include an exemption for the "vast majority" of advisers.

Tahn SharpeDecember 1, 2020

Industry

‘Advice Dividend’ to put numbers on the value of advice

Not only does financial advice have clear, measurable value for consumers both young and old, rich or poor, but a new study from IOOF and CoreData Research shows the Advice Dividend is often greater for the younger cohort – bucking the traditional line of thought.

Simon HoyleNovember 30, 2020

Industry

$24,716: What professional advice would add to GDP per person

A new report from CPA Australia and CoreData has used modelling to put a number on just how beneficial financial advice, accounting and broking services are to consumers and the country.

Tahn SharpeNovember 26, 2020

Industry

‘We did not overpay’: IOOF chair on MLC purchase

IOOF chair Allan Griffiths and CEO Renato Mota stared down dissenting shareholders and defended the group's MLC acquisition, as well as its plans to handle vertical integration while managing conflicts.

Tahn SharpeNovember 25, 2020

Industry

Outdated sophisticated investor rules increase ASIC’s load

As the corporate regulator fights to curb mislabelling of financial products, senior executive leader of investment managers Rhys Bollen highlights how 20-year old wholesale investor benchmarks are giving suspect product providers a broader base to work with.

Tahn SharpeNovember 25, 2020

Technology

Managed accounts put to the test during Covid drawdowns

How advisers implement investment recommendations has evolved significantly, most notably in terms of how this process is integrated into business, something that was tested during recent market drawdowns.

Nina HendyNovember 24, 2020

Licensees

IOOF wins over Godfrey Pembroke after 3-month courtship

GPL has accepted IOOF’s offer to migrate onto one of its rebranded licences, with the “vast majority” of advisers on board. “We’re not exactly married yet but we’re getting to know each other,” says Harry Mantzouratos, director of GPL’s Practice Development Group.

Tahn SharpeNovember 24, 2020

Industry

M&A synergy gains aren’t a fait accompli

If you’re banking on synergy gains to make an acquisition business case stack up, Paul Barrett says, you'll first need to objectively rate the likelihood that these benefits will actually happen.

Paul BarrettNovember 20, 2020

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