Editor's Choice
UniSuper outage continues, no cause identified
|The super fund plans to begin restoring services later this week, though chief executive Peter Chun has told members the root cause of the outage remains unknown.
Australian Retirement Trust wraps up AvSuper merger
|Australian Retirement Trust (ART) has completed its merger with AvSuper after the two super funds formalised negotiations in February 2023.
ASIC clamps down on advisers, trustees cold calling
|Financial advisers, licensees, and superannuation trustees are facing the ire of ASIC after an investigation found they are profiting from boiler room tactics that convince members to switch funds.
FSC launches digital advice group
|The Financial Services Council (FSC) continues to expand into financial advice by taking on a digital advice association that flagged its formation one year ago.
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Robert De Dominicis
CHIEF EXECUTIVE OFFICER
GBST HOLDINGS LIMITED
GBST HOLDINGS LIMITED
It was during a family sojourn to the seaside town of Pescara, Italy, Rob DeDominicis first laid eyes on what would become the harbinger of his future. Andrew McKean writes.
The merger does not magically create an independent group. It is just not owned by one of the big four banks.
In many ways these mergers create even more problems for the consumer as CEO's can talk about "maintaining independence" and "letting the adviser flourish", under a banner that looks no different to the genuine intermediaries.
And mergers and acquisition firms who are not sure if a firm is independent or not perhaps should not comment at all. No good for the reputation showing that lack of knowledge
Would love to see ASIC comment on the statements made by this group
In my view, independent advice is not what SFG currently offer anyway. The advisers within this group have very little flexibility at all and are almost forced to use their own in-house products. If anything there is less independence in this group than is offered by the big 4.