Keith Ford

In ASIC’s report on regulatory simplification, chair Joe Longo noted “we don’t do simplification well in Australia”, but when it comes to advice the FAAA wants to see that change.

The complaints authority’s rules are hampering the ability of Shield and First Guardian investors to gain compensation from the super fund, which the FAAA’s Phil Anderson said will simply see more “complaints against financial advisers only”.

The majority of Australians are in a default super option, however, a mismatch in fees with similar index options in the same super fund could cost them thousands of dollars a year, according to a financial adviser’s modelling.

ASIC has expanded its banning actions beyond MWL Financial Services, with a Next Generation Advice rep hit with a four-year ban for inappropriate, misleading, and deceptive advice.

The shift towards passive investment strategies in recent years has been “modest”, according to a new report, however the changing dynamics of advisers’ investment approach has implications across the entirety of how firms do business.

The boom in private credit strategies aimed at retail clients in recent years has been a modern day “gold rush”, according to an investment advisory executive, and strong demand among HNW advice clients means they’re here to stay.

Op-Ed It’s sensationalist, alarmist, and – worst of all – not based in fact. Welcome to another instalment of mainstream press not understanding advice.

On the back of a $7 million capital raise, advice technology firm Padua Solutions has acquired Wealth Data, which it said marks a “significant step forward”.

The directors of First Guardian Master Fund’s responsible entity, Falcon Capital, insisted its investments are fully recoverable; however, FTI Consulting has flagged behaviour that is commonly seen in Ponzi schemes.

The corporate regulator said it is “considering what options” it has to hold super trustees, such as Macquarie and Equity Trustees, to account for including the failed schemes on their platforms.