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AIA Australia rejigs retail team, appoints new lead
AIA Australia's restructure of its retail business will see two senior leaders depart while a new chief retail insurance officer has been appointed to take charge of the next phase of growth.
JANA launches private credit trust
JANA is expanding its investment trust offering with the launch of an institutional-quality private credit solution.
FAAA welcomes 'widow's tax' changes in CGT, negative gearing reforms
FAAA says it welcomes the legislative changes aimed at addressing the so-called "widow's tax," noting the amendments will protect grieving families and individuals navigating relationship breakdowns from unintended tax consequences.
ART strikes $883m QLD Westfield deal
Australian Retirement Trust (ART) has agreed to acquire a 50% interest in Brisbane's Westfield Mt Gravatt from Scentre Group for $882.5 million, in what is expected to be Australia's largest single-asset retail transaction this year.
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Featured Profile
Andrew Gregory
CHIEF ADVICE OFFICER
UNISUPER
UNISUPER
After 25 years, Andrew Gregory remains motivated by the impact financial advice can have on Australians' lives. As UniSuper's chief advice officer, he is not slowing down on any of his current ambitions. Matthew Wai writes.
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.