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Vote in the FS Power50 now

JAMIE WILLIAMSON  |  THURSDAY, 5 SEP 2019
Voting is now open for the 2019 FS Power50, compiling the most influential financial advisers in Australia. This year, Financial Standard received more than 430 nominations for the FS Power50 and the voting process has now launched with 103 advisers ...

Discounted LIC fund opens to all

HARRISON WORLEY  |  WEDNESDAY, 4 SEP 2019
... think a range of factors, including an increase in activist investors coming on to LIC registers, will act as a catalyst to close the discount gap. "We are specifically targeting those LICs where we see the most potential for those discounts to close." ...

Boutique to launch flagship fund

JAMIE WILLIAMSON  |  TUESDAY, 3 SEP 2019
A new boutique small caps manager is set to launch its first fund this month. Melbourne-based Blue Orbit Asset Management will launch the Blue Orbit Australian Small Caps Systematic Alpha Fund to institutional investors this month. The boutique, which ...

Advice firm defrauds retired NFL players

JAMIE WILLIAMSON  |  TUESDAY, 3 SEP 2019
... but in fact invested almost exclusively in settlement advance loans to more than 70 of Howard's NFL class action clients. Close to $1 million of the funds were used by Howard to pay his personal mortgage loans and never repaid. Howard and Reinhard also ...

United front but no merger: AFA

JAMIE WILLIAMSON  |  MONDAY, 2 SEP 2019
The Association of Financial Advisers has rebuffed the possibility of a merger with the Financial Planning Association of Australia but acknowledged the two bodies are increasingly recognising the strength of a single voice and a single message. Speaking ...

Government extends FASEA deadlines

KARREN VERGARA, JAMIE WILLIAMSON  |  FRIDAY, 30 AUG 2019
The Federal Government has extended the deadlines for financial advisers to pass the Financial Adviser Standards and Ethics Authority's exam, as well as meet its qualification requirements. Assistant Minister for Financial Services, Superannuation ...

YBR to remediate wealth clients

KARREN VERGARA  |  FRIDAY, 30 AUG 2019
Yellow Brick Road is expecting to compensate wealth clients close to $1 million for failing its fee disclosure statements obligations. During the 2019 financial year, the ASX-listed firm identified some advice clients with ongoing fee arrangements may ...

Advice association merger up to members

HARRISON WORLEY  |  THURSDAY, 29 AUG 2019
Whether Australia's peak bodies in financial advice merge is a matter for members to decide, according to Financial Planning Association of Australia chief executive Dante De Gori. Speaking at the Financial Services Council Summit in Sydney this ...

Members shift to industry super funds

KARREN VERGARA  |  THURSDAY, 29 AUG 2019
Retail superannuation funds copped a battering of outflows as latest APRA figures paint a telling picture of a booming industry super fund sector nearly one year after the Hayne Royal Commission. Retail fund assets were flat at $625.7 billion in the ...

No extension to FASEA deadline

JAMIE WILLIAMSON  |  WEDNESDAY, 28 AUG 2019
... courses relevant for financial advisers. However, recent Rainmaker analysis of the ASIC Financial Adviser Register shows close to 3000 authorised representatives have exited the industry this calendar year to date alone. Asked by Financial Standard whether ...