FS Advice: Medcraft's appalling speechBY LAURA MILLAN | FRIDAY, 12 DEC 2014 12:20PMFollowing the release of the FSI report, the FS Advice blog questions whether ASIC can be impartial and strong enough to do the job the FSI wants it to do, a job that just got harder after the regulator lambasted its entire industry sector. Related News |
Editor's Choice
Super funds race to implement digital advice
|Australian superannuation funds are increasingly turning to digital advice tools to bridge the longstanding gap between members needs and access to affordable financial guidance, according to executives at wealth technology Bravura Solutions.
Musk's $106bn fundamental-defying IPO lands on Nasdaq
|SpaceX has raised US$75 billion ($106.8bn) in the biggest-ever stock market debut, valuing Elon Musk's rocket and satellite company at US$1.77 trillion.
Quinbrook appoints Australian lead
|Energy transition infrastructure investor Quinbrook has appointed Tim Horneman as region leader for Australia, formalising his responsibility for the firm's local investment activities and business operations.
Former ASFA COO joins housing fund manager
|The former chief operating officer of the Association of Superannuation Funds of Australia (ASFA) has joined C1 Capital Group as chief investment and operating officer.
Products
Expert Feed
When geopolitics becomes a portfolio risk
Geopolitics is back - again - and Australian investors can no longer treat it as distant background noise.
Does association membership still matter?
With all the changes the advice sector has experienced in recent years, such as regulatory reform and increased education and professional standards ...
Digital assets and where they stand in 2026
So far in 2026 digital assets have captured the headlines largely for the wrong reasons, but that doesn't tell the full story.
Rethinking default design in a changing market environment
The evolution underway in the US DC system highlights the value of periodically reassessing default design assumptions.
Featured Profile
Brian Redican
CHIEF ECONOMIST
NEW SOUTH WALES TREASURY CORPORATION
NEW SOUTH WALES TREASURY CORPORATION
What makes an economist an economist? TCorp chief economist Brian Redican reflects on over three decades of navigating Australia's economic cycles. Riddhima Talwani writes.
This is exactly where the financial advising industry has to grow up and become a profession. Not being able to take criticism from the regulator is a bit rich - what other organisation is supposed to shine a light on flaws if not the regulator? Okay, his words were a bit strong, but for many years ASIC was too soft and wouldn't publicly say anything. How many class actions are going to happen before the advice industry as a whole plucks out the bad and incompetent apples? While the industry doesn't do its part, Medcraft has to jump up and down - sometimes I feel like jumping up and down too with the lack of action on this issue. So if he praises the industry at any stage (for any future progress they make on this issue), will he also be accused of being biased?
Note that my comments are based on the item above, not on the FS advice newsletter.