Editor's Choice
AIA Australia rejigs retail team, appoints new lead
AIA Australia's restructure of its retail business will see two senior leaders depart while a new chief retail insurance officer has been appointed to take charge of the next phase of growth.
JANA launches private credit trust
JANA is expanding its investment trust offering with the launch of an institutional-quality private credit solution.
FAAA welcomes 'widow's tax' changes in CGT, negative gearing reforms
FAAA says it welcomes the legislative changes aimed at addressing the so-called "widow's tax," noting the amendments will protect grieving families and individuals navigating relationship breakdowns from unintended tax consequences.
ART strikes $883m QLD Westfield deal
Australian Retirement Trust (ART) has agreed to acquire a 50% interest in Brisbane's Westfield Mt Gravatt from Scentre Group for $882.5 million, in what is expected to be Australia's largest single-asset retail transaction this year.
Further Reading
Products
Featured Profile

Andrew Gregory
CHIEF ADVICE OFFICER
UNISUPER
UNISUPER
After 25 years, Andrew Gregory remains motivated by the impact financial advice can have on Australians' lives. As UniSuper's chief advice officer, he is not slowing down on any of his current ambitions. Matthew Wai 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.