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Vanguard to acquire custodian Altruist
Vanguard will acquire custodian and investment platform Altruist in a bid to expand into the American independent financial adviser market.
FAAA pushes to expand NCA to financial advisers
Financial Advice Association Australia (FAAA) said it will advocate strongly to expand the scope of the New Class of Advisers' to all financial advisers, which will currently be limited to only superannuation funds and life insurers.
SMSFA appoints head of professional standards
The Self-Managed Super Fund Association (SMSFA) has appointed Keddie Waller as the head of professional standards.
UniSuper unlocks close to $15k for members moving into retirement
Eligible UniSuper members will receive a tax-free bonus of up to $14,700 when they move into retirement phase from October 1.
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Liza McDonald
HEAD OF RESPONSIBLE INVESTMENT
AWARE SUPER
AWARE SUPER
Liza McDonald would have you believe her path from a legal secretary to the head of responsible investment at Aware Super was a matter of good fortune. Her career says otherwise. Riddhima Talwani writes.







The whole concept of an industry funded compensation scheme is wrong - instead of addressing the cause of the problem, it creates a soft landing and nothing improves. Here's three valuable points for the Senator to consider instead of his band aid.
1) AFSL's are issued by ASIC after reviewing electronic applications and without meeting the applicant face to face. An interview process would throw up huge improvements in capability of assessment.
2) PI insurance which is mandatory is issued by the underwiter via a broker and again the insurer never meets the applicant. So we have planners that ASIC have never met, the insurer has never met and a broker who got paid commission. Sound sensible when something goes wrong?
3) AFSL's are not granted to RM applicants that don't provide advice or do not have retail advice experience. This means applicants with experience in corporate governance, risk management, investment management and underwriting get excluded ....but a planner with 3 years learning and selling life insurance qualifies as a responsible Manager. For example Peter Kell should not qualify to get an AFSL,neither would the MD of a Trustee or Custodian business - sensible policy .....or not?
By addressing some of these massive shortcomings we can improve the quality and depth of the RM world in line with directorships and the corporations act. that will protect consumers more than an artificially funded scheme.