Licensees

Licensees

‘Vanilla’ AFSL prices surge as advisers disperse

Empty AFSL’s with no client books have gone from having virtually no value to being sold for an average of $70,000, with ex-institutional advisers clamouring for an independent ticket yet reluctant to wait on ASIC to approve a new license.

Tahn SharpeSeptember 21, 2020

Licensees

Institutions absent in Licensee of the Year award

GPS Wealth and Affinia were the big winners at this years' awards, while no award was given for the Institutionally Branded Licensee of the Year due to "an insufficient number of qualifying licensees".

Tahn SharpeSeptember 18, 2020

Licensees

IOOF’s Whereat: ‘We’re not arrogant enough to think we’ll get everybody across’

Darren Whereat reveals IOOF’s pitch to MLC advisers and explains where the group sits on conflicts, compliance and culture. The head of advice is nothing if not forthright. “Don’t guild the lily and don’t put any fluff around it,’ he says. “Tell it like it is.”

Tahn SharpeSeptember 11, 2020

Licensees

Remediation, simplicity and BOLRs: Why IOOF left MLC licensees behind

IOOF's decision to leave some of the industry’s most iconic licensees in the hands of MLC left some scratching their heads, but head of advice Darren Whereat says there were a handful of reasons behind the move.

Tahn SharpeSeptember 4, 2020

Licensees

TenFifty CEO eyes less advisers, cleaner model

The head of MLC’s new spin-off says it will be more – or more accurately, less – than an amalgamation of its former brands. Licensing fees will rise as product subsidies fall, while advisers must ascribe to a yearly fee-for service model. It’s a model Brendan Johnson acknowledges isn’t for everyone.

Tahn SharpeAugust 27, 2020

Licensees

$38,500 the new benchmark for licensing fees

The growing abandonment of product subsidies by licensees has crystallised a new pricing dynamic, but advisers aren’t complaining about higher licensing fees according to CoreData’s Simon Hoyle.

Simon HoyleAugust 21, 2020

Licensees

Transparency a clear path for Centrepoint

Well into their three-year strategic refresh, the listed licensee saw an increase in adviser numbers during FY2020 despite an impending 89 per cent increase in adviser fee costs.

Tahn SharpeAugust 21, 2020

Licensees

ASIC fine with extra advice fee compliance doc

The regulator has confirmed it is aware super funds are sending letters out to licensees asking them to confirm that every member has received the advice they paid for before the fund will release the fees. But ASIC’s blessing came with a warning.

Tahn SharpeAugust 19, 2020

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