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Super funds in pole position for expanded advice

KARREN VERGARA  |  MONDAY, 26 FEB 2024
Superannuation funds will have a leg up over life insurers and banks once the federal government implements its proposal to expand financial advice. This is according to industry experts who say that super funds are in good stead to bolster the availability ...

Iress sells platforms business

KARREN VERGARA  |  MONDAY, 26 FEB 2024
Iress has offloaded its platform business with $4 billion in funds under advice (FUA) to another ASX-listed firm. Praemium will soon be the new owner of Iress's OneVue Platform Business (IOPB), agreeing to pay $1 million in cash and an additional ...

How advisers protect themselves from 'rogue' clients

KARREN VERGARA  |  FRIDAY, 23 FEB 2024
Financial advisers should not overlook simple yet powerful strategies when it comes to protecting themselves from "rogue" clients, according to a law expert. Peter Bobbin, a consultant lawyer at Sydney-based Bobbin Lawyers, highlighted several methods ...

New caps can increase super contributions: SMSFA

KARREN VERGARA  |  THURSDAY, 22 FEB 2024
The changes in concessional and non-concessional contributions caps announced today could mean that some Australians can have additional disposable income to contribute to superannuation, according to the SMSF Association. From 1 July 2024, the standard ...

Advisers should have an AI plan: Netwealth

CHLOE WALKER  |  THURSDAY, 22 FEB 2024
When it comes to incorporating artificial intelligence (AI) and big data into an financial advice practice, it's imperative to have a plan in place, according to Netwealth head of marketing Andrew Braun. Addressing the crowd at the SMSF Association ...

Insignia details transformation progress

JAMIE WILLIAMSON  |  THURSDAY, 22 FEB 2024
Insignia Financial's share price is up some 12% after it posted a marginal increase in underlying profit and reported all its strategic priorities being on-track. The wealth giant has reported underlying net profit after tax (NPAT) of $95.5 million ...

Super tax is a 'wealth tax': Taylor

KARREN VERGARA  |  THURSDAY, 22 FEB 2024
Shadow treasurer Angus Taylor slammed the proposed doubling of superannuation tax to 30%, saying it is a blatant attack on Australians' wealth. Addressing day two of the SMSF Association National Conference at the Brisbane Convention and Exhibition ...

ASIC waves red flag at advisers, trustees over Choice products

JAMIE WILLIAMSON  |  THURSDAY, 22 FEB 2024
An extensive review of processes across superannuation trustees, financial advisers and advice licensees has found very little evidence that consumers are aware of how poorly Choice products they're in are performing, and that such underperformance ...

New life insurance regulations rolled out

ANDREW MCKEAN  |  WEDNESDAY, 21 FEB 2024
Assistant treasurer and minister for financial services Stephen Jones has issued life insurance regulations that aim to modernise the legislative framework. The Life Insurance Regulations 2024 establishes a threshold for annuities, dictating that the ...

Reforms will strengthen retirement advice: Experts

KARREN VERGARA  |  WEDNESDAY, 21 FEB 2024
Reforms underway to expand financial advice will have positive ramifications for the SMSF and APRA-regulated sectors as it will ultimately uplift outcomes in the retirement phase for all Australians, industry experts say. The first day of the annual ...