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Brighter Super launches lifetime income product in accumulation phase
|The $38 billion super fund has teamed up with TAL to offer members a lifetime income product while still in the accumulation phase.
FinCap beefs up treasury capabilities
|FinCap has welcomed a new member to help scale the firm's private markets managed accounts offering.
smartMonday tweaks fees, MySuper structure
|The super fund is transforming its MySuper LifeCycle structure by shrinking nine options into four distinct categories, while making changes to its investment and administration fees
Former Berndale director jailed for $700k in misused funds
|Former Berndale Capital Securities director Stavro D'Amore has been sentenced to almost four years' imprisonment after admitting to dishonestly misusing nearly $700,000 of company funds and authorising false statements to ASIC.
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Digital assets and where they stand in 2026
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The evolution underway in the US DC system highlights the value of periodically reassessing default design assumptions.
Featured Profile
Hugh Killen
MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER
AUSTRALIAN AGRICULTURAL COMPANY LIMITED
AUSTRALIAN AGRICULTURAL COMPANY LIMITED
For Hugh Killen, several life lessons came from spending time on pastoral properties stretching across northern New South Wales and South-West Queensland.
The Financial Standard podcast Tune in each week as we discuss the latest developments in Australia's wealth management industry. |  |
The members of the FSC have always known the advisers responsible for the inappropriate advice/behaviour yet have not acted to stop it. The blame should lie at the feet of those responsible not with the overwhelming number of advisers that daily provide excellent advice to the people who need it.
LIF reforms as they currently stand will only increase the cost of advice and drive more people to platform (superannuation ) and direct insurance which we all know to be less comprehensive and or more expensive. These reforms which ASIC support will be the next big issue for ASIC in the insurance space as consumers face poor claims outcomes as they were forced into these products without knowing the differences in quality and price.
Fixing the problem that ASIC has identified is simple under the current rule, it just requires the three major players to do their job, ASIC (police) which they are now starting to do, licensees be responsible for their AR's actions (withdraw AR status on known offenders) and Insurers not dealing with the known offenders or encouraging some of these behaviours.
It's simple, effective and doesn't require more regulation.
1. Code of conduct Hmmmm, not one word in it about looking after the interests of clients!
2. Remuneration, thanks for HALVING our income and setting us on a path to only 20%, being a fifth our income (my husband and kids send their thanks).
3. LIF 'seismic reform' only seismically increases banks/insurers already record profits
4. LIF - Can you tell us one consumer benefit and prove it?
5. Democracy - did you give your members the opportunity to vote on whether they support the seismic industry changing legislation?
6. EGM - so many members in so short a time want to have their say on the LIF, can you ignore all of them?
7. There was no DIRECT correlation with upfronts with ALL advisers in ASIC 413
Please tell us one benefit for consumers in the LIF that you so ardently support.