Editor's Choice
Australian Retirement Trust people chief to depart
Australian Retirement Trust has confirmed the departure of chief people officer Helen Jackson, who will leave at the end of the financial year.
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State Street Global Advisors (SSGA) suffered $2.4 billion in net outflows over the last two months of 2023, the majority of which hit its Australian and international equities products.
AFCA seeks industry feedback on approaches
The financial complaints authority is asking the industry for feedback on how it approaches issues and reaches decisions.
Apex, ACA partner to broaden client services
Apex Group and ACA Group have formed a partnership to offer their clients a wider range of services.
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Jason Huljich
JOINT CHIEF EXECUTIVE OFFICER
CENTURIA CAPITAL LIMITED
CENTURIA CAPITAL LIMITED
A single decision can change your life, and that's exactly what Centuria Capital joint chief executive Jason Huljich learned when he came to Australia in the 1990s. Eliza Bavin writes.
I agree that lifting education standards of individuals is also not the sole solution to all the issues facing the industry at present. The companies and their ongoing compliance regimes (or lack of) also let down consumers.
The article also talks about a quality review program which really should be in place in order to adhere to their AFSL obligations. Maybe a national standard with greater guidance and adherance should be considered, ie AFSL lodging annual reports of their ongoing quality review regimes?
This could help demonstrate accountability by the AFSL's, how often they review their advisers, and eloborate on corrective action whereby they have made an adviser write to a client about a breach that was identified.
All the industry bodies, associations, investigations etc continue to ignore the main reason for all the shonky behaviour: senior management.
Now we have the ex-CBA boss running the investigation into financial services - talk about putting Dracula in charge of the blood bank! As if he will come down hard on his buddies: what a slap in the face of consumers.
Yak yak yak about "training" and "education" - they are important but have very little to do with what these groups do to their customers.
Shame on the government and the pathetic industry bodies.