More advisers, not product distribution, key to fixing advice gap
Moves by super funds such as AustralianSuper to establish advice capability risk blurring the line between product distribution and quality professional advice. Fixing the advice gap means ensuring that more, appropriately qualified advisers are available to deliver advice to Australians, regardless of where they seek it.
‘Growth is key’: New AMP CEO says platform flows won’t come at expense of margin
AMP’s platform flows hit a record high in 1H26, but competition for industry fund outflows is heating up and ASIC has put platform governance under the microscope. But new CEO Blair Vernon tells Professional Planner the business can keep growing.
Super war reignited as SMC spars with FSC over member switching
The Super Members Council has warned that “consumers should be wary” about any claims that they would be better off if they switched their super fund, pushing back on arguments made by the Financial Services Council in a report last month.
Parliament should review travel restraint laws in major financial misconduct cases
As the travel restraint of First Guardian CIO Simon Selimaj has been lifted, Shield and First Guardian investor advocate Melinda Kee writes that confidence in the system is lost long before a court delivers its verdict.
Radical transformation needed for golden era of advice
To significantly increase the profession’s capacity to serve, there must be transformation in three key areas starting with education reform. Technology must also empower advisers to spend more time winning and seeing clients, and advice must be available in different forms, Entireti’s Neil Younger writes.
The FSC’s white paper blind spot: Who’s accountable when compliance fails?
The Financial Services Council deserves credit for taking on feedback and modifying its recommendations for the White Paper on the Future of Advice Licensing. But Assured Support’s Sean Graham writes the white paper still leaves one critical question largely unanswered.
Moving beyond the myths of the great wealth transfer
The families that navigate generational transition most successfully are not those with the best wills or most sophisticated portfolios, but those that clarify values, build governance and embed a culture of stewardship long before it is needed. JBWere’s Kim Venter busts four myths that oversimplify the great wealth transfer and obscure the deeper work families must do to sustain wealth across generations.
YFYS performance test has done its dash
The Coalition’s Your Future Your Super reforms, especially the contentious performance test, deserve credit for weeding out poor-performing funds and helping instil a more cost-conscious culture in super. But the test has largely accomplished its mission and its continuation undermines the system’s global competitiveness.
Morgan Stanley moves client subset off legacy platform to Netwealth
Morgan Stanley Wealth Management will move a subset of its clients off its legacy platform onto Netwealth, further aiding the platform provider’s expansion into the stockbroking and private wealth market. The deal comes as the fast-growing Netwealth plans to double in size over the next four years, despite regulatory issues caused by First Guardian in the past 12 months.
ASIC intervenes on Shield director promoting guaranteed 13 pc returns on new funds
ASIC has sought Federal Court orders to restrain Shield director Paul Chiodo from promoting new funds over concerns about alleged unlicensed conduct and that the products were promising high guaranteed returns.
Researcher Forum
Advice Policy Summit
This event is open to CEOs and senior leaders of financial planning licensees, dealer groups and boutique advice firms, along with C-suite executives in superannuation funds with oversight of advice, education and guidance.
The ultimate service an adviser can provide: Showing up at the worst time
With the decline of risk specialists, supporting clients through a difficult and, in some cases, terminal medical diagnosis is a skill that some advisers may not have. Financial adviser, Shayne Sommer shares her tips for getting clients and their families through the toughest times in their lives.
Shadforth is buying businesses, not books
Not even a year on from its acquisition of Melbourne-based financial advice firm PMD Financial Advisers, Shadforth is still looking for M&A opportunities but strictly to add like-minded advisers, rather than just client books. CEO Terry Dillon tells Professional Planner what those ideal businesses looks like.
How pro-bono work helped adviser Nicola Beswick create new firm
Lawyer turned financial adviser Nicola Beswick recently launched her own financial firm White Rabbit Advisory. Through her experience on the board of the Pro Bono Financial Advice Network, she learned valuable lessons which helped her navigate the challenges of setting up her own business.
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