Escala looks to national expansion one year on from Focus deal
High-net-worth specialist advisory Escala Partners is looking to expand beyond Sydney and Melbourne to become a national brand, a year on from a restructuring of the business by US-based Focus Financial Partners.
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.
‘Best possible outcome’ sees First Guardian investors cop massive loss on failed property deal
First Guardian investors will get 8 cents on the dollar back on a loan the fund made to a property developer in western Melbourne, with liquidators FTI Consulting saying they believe this was the “best possible outcome” for unitholders.
When AI decides who’s credible, invisibility becomes the bigger risk
Prospective clients are asking AI for financial advice expertise long before they contact an adviser, writes Assured Support’s Sean Graham. Licensees that restrict what advisers publish may be managing one risk while creating another: being absent when trust is formed.
Financial Accountability Regime yet to bare its teeth in superannuation
The alleged conduct that led to the Shield and First Guardian debacle is unlikely to lead to any action under the Financial Accountability Regime. But a new ASIC report into platform trustees may deliver the individual consequences FAR was intended to mete out.
Four candidates for YFYS expansion – and why we’re not convinced
None of the potential expansion areas for the Your Future Your Super performance test – including managed accounts or retirement income products – are warranted writes The Conexus Institute’s David Bell and Geoff Warren. Nor would any expansion of the test have caught schemes like Shield and First Guardian.
What the new CGT rules mean for SME clients
The federal government’s recent announcement regarding small business capital gains tax concessions introduces significant changes that financial advisers must prepare for, writes financial adviser Sheshan Wickramage. By increasing the turnover threshold for the 50 per cent active asset reduction from $2 million to $10 million, the government has fundamentally altered the exit landscape for SME clients.
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.
Financial advice can avoid AI-driven ‘Kodak moment’
Financial advice is positioned to avoid a “Kodak moment” and being made obsolete by AI and technology, as human-led interactions will continue to be a driving force in its proposition, the Professional Planner Licensee Summit heard. But while AI might be part of the model of the future, a panel also discussed whether a key model from the past, vertical integration, will still have a place.
Putting values at the heart of advice
When it comes to strategic advice, incorporating a client’s values is just as important as their circumstances, needs and goals, according to Russell Investments. Values can also be a core consideration when selecting investments to ensure alignment with portfolios and outcomes.
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.
Advisers sympathise with super members subject to poor service
Super Consumers Australia has called for improved member standards after its report found super funds are failing to answer members’ calls, with the nation’s largest fund AustralianSuper failing to answer 90 per cent of calls. But advisers who are familiar with the lacklustre service standards of industry funds also empathise with the challenge they have in delivering services with the lowest fees possible.
The biggest game in town: Inside AustralianSuper’s retirement income strategy
Since Jacki Ellis joined the nation’s biggest profit-to-member super fund as head of retirement just over one year ago, she’s been assessing and building the fund’s capabilities with the aim of delivering a fully personalised experience to all members by 2035. But that’s not to say there won’t be benefits for members who retire before that.
The ‘powerhouse’ women driving AZ NGA’s next growth phase
AZ NGA has grown into a $700 million behemoth under the leadership of co-founder and CEO Paul Barrett, who has become the public face of the group. But as the advice equity aggregator moves into its next phase of growth, it’s the counsel and experience of four key women that has become critical to driving the business forward.
Licensees