Industry

Industry

M&A is not permission to get fat and lazy

The act of buying a business does not guarantee sustainable growth any more than buying flowers guarantees a healthy relationship, Paul Barrett writes. Success is the result of consistent effort and hard work post-sale.

Paul BarrettMarch 5, 2021

Industry

ASIC’s gaze to fall on smaller advice groups: CoreData

With the banks gone ASIC is sure to focus more on smaller advice groups, Andrew Inwood said. The speed – and eventual cost – of that might have a lot to do with the regulator's new leadership team, he reckons.

Tahn SharpeMarch 5, 2021

Industry

Bert goes into bat for insurance commissions

Less than an hour after Labor’s Stephen Jones said insurance commissions were “a problem”, Liberal MP and ex-planner Bert van Manen called them a “perfectly valid form of remuneration”. Despite his endorsement, financial services minister Jane Hume says the government will also wait on the LIF review's findings before making a call on the issue.

Tahn SharpeMarch 3, 2021

Industry

‘Advisers are ready for this’: Time to focus on the retirement framework

Providing quality outcomes for Australians in retirement requires more coordinated thinking and a collective push for a retirement advice framework to become mainstream. With a greater sense of urgency, a group of influencers in wealth management bring their next-level thinking to the table.

Jessica SierMarch 2, 2021

Industry

Jones doubles down on risk commissions ban stance

The shadow financial services minister reaffirmed his bias against insurance commissions and all but vowed to eliminate anything resembling conflicted remuneration out of the industry if Labor wins the next federal election.

Tahn SharpeMarch 2, 2021

Industry

Calls grow for the term ‘advice’ to be reserved for personal use

Representative bodies question why the terms general advice, intra-fund advice and even robo-advice are still being used. But after being bandied around by stakeholders from all corners, the issue has failed to really pique the interest of policymakers.

Tahn SharpeMarch 1, 2021

Industry

5-year adviser jail terms hang on unwritten rules

Treasury will decide on new record-keeping obligations for advisers after the related Bill’s passing, which means not only further delay but a lack of parliamentary scrutiny. The tactic is part of a broader strategy by the government, according to Mills Oakley partner Mark Bland.

Tahn SharpeFebruary 26, 2021

Industry

IOOF’s spinning door: 140 advisers to go as MLC cohort onboards

Despite wanting to bring on "the majority" of MLC advisers, IOOF CEO Renato Mota said the group will reduce its self-employed network and focus on making the group more sustainable and profitable.

Tahn SharpeFebruary 24, 2021

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