Risk commission changes imperil advice practicesBY KARREN VERGARA | WEDNESDAY, 5 JUN 2019 11:40AM
As financial advisers adjust their business models to the Life Insurance Framework, many fear the Royal Commission's recommendations will further undermine the viability of their practices.
Read more: ClearView, Life Insurance Framework, Royal Commission, ASIC, Kenneth Hayne
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Insurance in superannuation is now opt-in only for new members under the age of 25 and those with low account balances, after the government's Putting Members' Interest First super reforms passed through the Senate yesterday.
Intrust Super has relaunched its robo-advice offering, increasing the solution's speed while decreasing the user input requirements.
Brett Himbury, the chief executive of the $148 billion industry-super-owned fund manager, is stepping down after a decade in the role in a surprise announcement made this morning.
The Federal Court of Australia has found IOOF did not contravene the Superannuation Industry Supervision Act in the case brought against its APRA-regulated entities by the prudential regulator.
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