Industry

Industry

Crowded platform market ripe for consolidation

The investment platform market looks due for adjustment as adviser numbers dwindle and more competitors jostle for a seat at the table. A wave of M&A activity and a race for operational scale could be required before the sector’s bright future is fully realised.

Tahn SharpeSeptember 16, 2020

Industry

Court slaps $50M fine on MLC trustee

In ASIC's largest ever civil action, MLC Nominees and Nulis Nominees have been lumped with a combined $57.5 million worth of penalties after they duped hundreds of thousands of superannuation members into paying for advice that wasn't provided.

Tahn SharpeSeptember 14, 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

Industry

AMP brings in the culture consultants

Under pressure to make changes to its cultural settings, AMP has brought in diversity consultant Symmetra to conduct an objective review of conduct, policies, leadership and behaviour.

Tahn SharpeSeptember 11, 2020

Industry

Structural rethink needed for advice industry

Advice regulation isn't particularly well-designed, but with some holistic thinking and a tweaked mandate for the Single Disciplinary Body the industry can reshape into something that is fit for purpose. Conrad Travers and Selin Ertac write for Professional Planner.

Conrad Travers and Selin ErtacSeptember 7, 2020

Technology

Advisers caught in fintech ‘crossfire’

Advisers may need to take it upon themselves to keep advice tech providers focused on integration and efficiency, according to Enzumo's Peter Worn.

Tahn SharpeSeptember 7, 2020

Industry

IOOF discards MLC licensees and shuts down FSP

CEO Renato Mota said the group has taken the "very deliberate" decision to de-risk the MLC acquisition by leaving most of its licensees behind and asking advisers to come across to IOOF’s own brands. Additionally, IOOF has wielded the axe to its FSP brand and taken another step towards a simpler, salaried adviser model.

Tahn SharpeSeptember 5, 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

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