Editor's Choice
IFM Investors appoints global product strategy head
|IFM Investors has strengthened its global leadership team with a senior appointment of a former WTW consultant.
Macquarie AM launches venture growth fund
|The new fund will provide eligible investors access to late-stage growth companies around the world based on a two-decade track record with more than 350 investments.
Consistent climate disclosures matter: ASFA, ACSI
|The Association of Superannuation Funds Australia (ASFA) and the Australian Council of Superannuation Investors (ACSI have joined four other peak investment bodies to push for continued transparent and comparable climate disclosure.
Ironbark expands advice footprint with acquisition
|Ironbark Financial Group has acquired a Victoria-based multi-disciplinary firm that specialises in assisting small to medium sized businesses, integrating the practice into its Ironbark Advice brand.
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Digital assets and where they stand in 2026
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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
Jacqueline Fernley
CHIEF EXECUTIVE OFFICER
ARC POINT OCIO PTY LTD
ARC POINT OCIO PTY LTD
Jacqueline Fernley is a self-confessed nerd, a market animal and as of this year, her own boss. Riddhima Talwani writes.
The Financial Standard podcast Tune in each week as we discuss the latest developments in Australia's wealth management industry. |  |
How ridiculous. Industry funding the government regulator for the industry. Am I missing something here? The big banks are saying that ASIC needs more resources to police the industry and that industry should fund ASIC. So then the banks raise their fees to cover their contribution to ASIC? Simply unbelievable and naive comment.
The big banks hire financial planners whose main job is sell bank products regardless of the inherent risk to anybody that walks through the branch office doors. Surely the question is, when do the big banks take responsibility for their own actions and actions of their staff, admit their collective mea culpa, change their employment practices and disincentivise /prevent their staff from selling high risk products to unsuspecting customers?
As for ASIC, the question has to be is why ASIC has not suspended or revoked the banks financial planning AFSL. There is ample evidence to take to the courts should the banks appeal the revocation of the AFSL. If it was Mr Fred Nobody, a financial planner in the burbs the AFSL would have revoked in nanoseconds.
So....... implement the recommendations of the Trowbridge report, and of the upfront commissions that insurance companies pay, advisers get $1,200 with the remainder going to ASIC?