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Adviser complaints rise, super complaints decrease

KARREN VERGARA  |  WEDNESDAY, 19 APR 2023
... received 1162 complaints from customers who are owed $253.6 million in compensation.ASIC's corporate insolvency statistics show that 145 financial services and insurance companies went bust in the 2022 financial year. Under capitalisation, poor business ...

Experience pathway consultation opens

KARREN VERGARA  |  TUESDAY, 18 APR 2023
... advice between 1 January 2007 and 31 December 2021 would meet one part of the educational requirements. Advisers must also show they have not recorded any disciplinary action on the Financial Advisers Register before 31 December 2021 and pass the adviser ...

Why clients fire their financial adviser

KARREN VERGARA  |  MONDAY, 17 APR 2023
New Morningstar research reveals the underlying reasons why clients dump their financial advisers that are not related to costs or investment performance. The survey of US-based clients found three core reasons why they let go of their advisers. The ...

Brighter Super forges ahead with SFT

KARREN VERGARA  |  MONDAY, 17 APR 2023
Brighter Super has provided an update about its pending merger with Suncorp's superannuation business, which will officially occur on June 1. Suncorp Super or the SPSL Master Trust members will be transferred to Brighter Super and see their account ...

Employment figures no cause for rate hike: Experts

JAMIE WILLIAMSON  |  FRIDAY, 14 APR 2023
... inflation and risk further RBA rate hikes," she said. "But we think the suite of monthly economic activity data will continue to show a further deceleration in growth at a time that inflation is slowing quicker than the RBA is forecasting... We expect ...

Budget all about responsible economic management: Chalmers

CASSANDRA BALDINI  |  FRIDAY, 14 APR 2023
Treasurer Jim Chalmers says the best possible response to global economic uncertainty is responsible economic management and that will be displayed in the May federal budget. Speaking in Washington DC at the G20 Finance Ministers' and Central Bank Governors' ...

Finfluencer barred from running online advice business

CHLOE WALKER  |  FRIDAY, 14 APR 2023
... which indicated he had purchased shares in them or that he thought it was a strong investment opportunity. Documents also show he admitted to using Instagram as a "clever way of pumping" up share prices and said that because he couldn't charge them ...

Super fund selection driven by fees: SCA

ANDREW MCKEAN  |  THURSDAY, 13 APR 2023
Australians prioritise fees and charges when choosing a new superannuation fund, according to Super Consumers Australia (SCA) research. SCA's pilot nationwide survey on Australian superannuation trends revealed that 67% of consumers consider fees ...

US CPI inflation rate stays stubbornly high

ANDREW MCKEAN  |  THURSDAY, 13 APR 2023
The Consumer Price Index (CPI) rose 0.1% in March, remaining at 5% year on year. NAB economist Taylor Nugent said the US CPI showed welcome, but not overwhelming, progress. "Headline CPI rose less than expected, up 0.1% month on month, and 5.0% year ...

Long pause likely from RBA: Economist

CASSANDRA BALDINI  |  THURSDAY, 13 APR 2023
... said, is the CPI measure. "The quarterly measure will be a focus as well. We think it's going to be quite high but will show some clear signs that inflation has passed its peak," he explained. If underlying measures in Australia signal inflation ...