The Albanese government has put forward a bold proposal to tackle the challenges of Australia’s swelling retirement pool, in an effort to allow superannuation funds to play a more active role in shaping members’ retirement outcomes.
Among the most significant issues within its regulatory remit, ASIC has highlighted unsuitable superannuation advice resulting in adverse consumer outcomes.
The advice profession has scored a victory with the government’s latest announcement, allowing licensees to charge a direct fee for advice offered by the new class of advisers.
The parent company of the collapsed Dixon Advisory is seeking to delist from the ASX after regulatory proceedings significantly impacted its share price.