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Equity Trustees super exit sparks Hejaz Islamic Super and Pension closure
|Hejaz's Islamic Super and Pension products will be terminated as a fallout from Equity Trustees ditching the superannuation trustee business. The latter, however, says otherwise.
Sequoia revokes dividends, chief financial officer exits
|Sequoia will not pay any dividends in the financial year, revoking interim dividend it had announced earlier in the year of one cent per share, as an adviser exodus puts pressure on its revenue.
Acclaim Wealth names chief executive
|The Brisbane-based wealth and superannuation business has appointed a new chief executive, as former boss Terry Constable landed a new role at Infocus after almost three years at the helm.
Global X cuts fees on gold ETF
|Global X has reduced fees on its Gold Bullion ETF, following in the footsteps of VanEck after it cut fees for its gold ETF last week.
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Featured Profile
Liza McDonald
HEAD OF RESPONSIBLE INVESTMENT
AWARE SUPER
AWARE SUPER
Liza McDonald would have you believe her path from a legal secretary to the head of responsible investment at Aware Super was a matter of good fortune. Her career says otherwise. Riddhima Talwani writes.
The Financial Standard podcast Tune in each week as we discuss the latest developments in Australia's wealth management industry. |  |
The super industry has been up in arms to ASIC about this for years yet ASIC has been the main culprit, insisting that PDSs contain more and more information - 99% meaningless to ordinary superannuation members.
So why have advisers for years had to give out what is now recognised as meaningless information? Just a waste of time. Compliant advice has never been the equivalent of good advice. ASIC has never understood this. No wonder people try to DIY their super, insurances and investments. No wonder people don't like paying for "advice" when there's so much meaningless information involved. When will we be allowed to get back to basics???
ASIC you are the one who wants the disclosure. You started this war. Don't complain that it doesn't work. Of course no one reads the PDS. You didn't need to conduct market research to discover that.