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Corporate, governance issues fuel whistleblower tipoffs: ASIC
|The corporate regulator received nearly 2000 tip offs from whistleblowers in the last financial year, a whopping 183% jump annually, the majority of which relate to corporate and governance issues.
Platinum awards mandate, changes fund name
|Platinum Asset Management has awarded a mandate to a US-based investment manager to oversee investment capabilities in a 20-year-old fund, simultaneously altering the name to reflect the update.
Workplace mental ill-health can cost Australia $27bn: Report
|Workplace mental health issues are directly costing the Australian economy $12 billion per annum in lost gross domestic product (GDP), with the cost set to rise by more than 125% over the next 15 years in excess of $27 billion a year.
ASX turns up heat on Clime Capital following KPMG scrutiny
|The ASX has also raised concerns over Clime Capital's valuation of its unlisted assets portfolio and the qualified opinion that was eventually handed down by its auditor KPMG.
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Featured Profile
David Sharpe
CHAIRMAN
FINANCIAL ADVICE ASSOCIATION AUSTRALIA
FINANCIAL ADVICE ASSOCIATION AUSTRALIA
A family man, business owner, cricket fanatic and financial adviser, David Sharpe has many facets. One of his biggest legacies, as he steps down as chair of the Financial Advice Association Australia, is leaving the profession stronger than he found it.
The Financial Standard podcast Tune in each week as we discuss the latest developments in Australia's wealth management industry. |  |
An incredibly lop sided view of life from the FAAA as to whether banks will or will not re-enter the advice market. In truth, the FAAA has no idea what the banks will do. ( it's subjective at best ) Regurgitating history to suggest they won't return is a pretty shallow view of strategy given the want to serve clients better. The reality is that technology developments have enabled scaleable low cost 'personal advice' with all of the consumer protection protocols in place to become a reality. There are regulated providers with AFSLs issuing advice through an SoA already operating in the market and they make advice affordable and accessible - which the FAAA does not.
It seems to me the Super Funds and the Banks and some smart advisers and platforms (to wit, orphaned clients) will all consider the merits of this and as with all wealth providers, seek to provide a genuine trustworthy experience to their members or clients. Interesting to observe that the FAAA in it's continued pursuit of face to face advice (in defence of its client base) doesn't seem to be aware of the depth of the digital advice market already - which is surpassing the cliched views that it can't be done.