This Month
Stephen Jones is (still) out of his depth
Stephen Jones aimed for “quick wins” on his legislative agenda. Instead, the government introduced a bill accidentally banning insurance commissions.
- Updated
- Myriam Robin
Labor scrambles after accidentally axing insurance commissions
A wording error in financial advice reforms tabled to Parliament last week would have inadvertently banned commissions for insurance brokers.
- Hannah Wootton and Lucy Dean
March
Escala Partners dials up client fees after LGT Crestone snares advisers
Dragging its top revenue-writers to court didn’t work for Escala Partners. Now it is ready to pull another lever in its quest to plug talent (and revenue) leakage to rival LGT Crestone.
- Sarah Thompson, Kanika Sood and Emma Rapaport
February
- Opinion
- Chanticleer
Confessions of a royal commission survivor
Renato Mota took on one of the biggest post-royal commission rebuilds at Insignia. He leaves after five years with questions over where advice and super are heading.
- James Thomson
Macquarie’s war on big four escalates with business lending assault
Macquarie said it had appetite to deploy its retail banking technology into the business market to grow deposits and lending against CBA and NAB.
- Updated
- James Eyers
January
Financial advisers likely to give bitcoin ETF a ‘wide berth’
But some say there is a place for cryptocurrencies in portfolios – although in small proportions, like gold.
- Joanna Mather
December 2023
- Opinion
- Australian economy
Simple financial advice requires tax reform to end complexity
A thicket of rules around retirement planning means making it easier for super funds to provide guidance will not be as transformational as some seem to think.
- Brad Ruting and Emily Millane
Super funds, insurers line up to get into financial advice game
Michelle Levy, whose review into financial advice led to many of the proposed new laws, said the changes would go “a long way” to making advice cheaper and more accessible.
- Hannah Wootton
- Opinion
- Financial planning
Safer, simpler financial advice to deliver the best outcomes for all
While we have been pretty effective at protecting Australians from bad advice, we have also protected them from good advice. This is now going to change.
- Stephen Jones
Banks, insurance, super win financial advice relief
Financial institutions will be able to give personal advice to customers at scale, with Labor announcing wind back of rules which followed Hayne royal commission.
- Hannah Wootton
November 2023
AMP share price jumps after $100m class action settlement
Analysts previously predicted the financial services giant could be on the hook for even more than this amount over the case, which related to its controversial adviser payout policy.
- Hannah Wootton
Super funds on spending spree to improve customer service
But there are concerns the cost of improving service could drive up fees, even as the government and regulators warn of a crackdown on poor standards across the $3.5 trillion sector.
- Hannah Wootton
Pinnacle-backed wealth platform OpenInvest seeks buyer pre-Xmas
Sources say the platform is in ongoing discussions with a handful of interested parties.
- Sarah Thompson, Kanika Sood and Emma Rapaport
October 2023
Macquarie advisers out the door, Crawford cites ‘cost management’
Sources said the private bank’s division head cited cost management and poor performance in other areas of the business.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Get back to the office, Bell Potter tells staff
Street Talk understands staff at the full-service stockbroker have been told they can only work remotely 10 days per year.
- Sarah Thompson, Kanika Sood and Emma Rapaport
September 2023
- Opinion
- Opinion
AI can be the solution to retirement financial illiteracy
Technology is likely to play a critical role in unlocking digital solutions for providing retirees with simple, affordable advice.
- Alexis George
TA Associates closes in on financial planner roll-up AZ NGA
It looks like AZ NGA has done some soul-searching since then, and is ready to meet TA Associates at a mutually agreeable price.
- Sarah Thompson, Kanika Sood and Emma Rapaport
August 2023
Goldman is selling a wealth-advisory unit to Creative Planning
The decision to sell signals the Wall Street firm’s intention to refocus its attention on the ultra-rich segment where it has a dominant presence.
- Sridhar Natarajan
Federal public servants pleading for advice on $63b in super
The federal public sector superannuation agency is being flooded with calls from a wave of retirees, but with only handful of advisers to manage the tsunami of members needing advice
- Tom Burton
Lonsec names Ex-Morgan Stanley operative as chief investment officer
Nathan Lim will oversee the research houses $9 billion in funds under management.
- Sarah Thompson, Kanika Sood and Emma Rapaport
