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What you read in 2021

JAMIE WILLIAMSON  |  FRIDAY, 17 DEC 2021
... who was reporting to general manager, superannuation Melinda Howes. Last week BT confirmed Howes has now departed for personal reasons, with Oakhill taking over her role in the interim. 3) Sunsuper, QSuper confirm merger will go ahead In March, the two ...

Shareholders reject Westpac remuneration report

KARREN VERGARA  |  THURSDAY, 16 DEC 2021
... overhauled its executive line-up and now comprises two thirds of senior managers that have been recruited externally. "On a personal note, in the early days, I found Westpac's embedded culture and processes quite frustrating, which made getting traction ...

Super fund appoints new insurer

JAMIE WILLIAMSON  |  WEDNESDAY, 15 DEC 2021
Having had separate insurance arrangements to date, next year will see Equip and Catholic Super adopt the same insurer - putting an end to some longstanding arrangements. Effective 1 July 2022, members of Equip and Catholic Super will be covered by ...

HESTA launches Future Planner tool

CHLOE WALKER  |  WEDNESDAY, 15 DEC 2021
HESTA has launched a digital tool to improve the accessibility of financial advice to its members, many of whom may experience barriers accessing conventional services provided by the broader industry. Since going live eight weeks ago, more than 60,000 ...

Melinda Howes bids farewell to BT

JAMIE WILLIAMSON  |  TUESDAY, 14 DEC 2021
... of superannuation at BT, having spent the better part of two decades with the company. Howes departed BT last week for personal reasons, the company confirmed. It is understood Howes has been on carer's leave in recent months. She has led the superannuation ...

CFS launches low cost geared index options

CHLOE WALKER  |  TUESDAY, 14 DEC 2021
... may not be suitable for all investors. We always recommend investors seek professional financial advice on their own personal circumstances."

Financial Advice Hub goes live

KARREN VERGARA  |  WEDNESDAY, 8 DEC 2021
... wrapped up consultations in early 2021. The hub is part of other initiatives ASIC hopes will improve access to affordable personal advice. It recently launched more guidance on Records of Aadvice and Statements of Advice. ASIC is due to release an advice ...

Magellan chief executive resigns

ELIZABETH MCARTHUR  |  TUESDAY, 7 DEC 2021
The chief executive of Magellan, Brett Cairns, has resigned for personal reasons. The fund manager's chief financial officer Kristen Morton is stepping in as interim chief executive. Morton has been chief financial officer at Magellan for more than ...

Proposed reforms could simplify advice

KARREN VERGARA  |  FRIDAY, 3 DEC 2021
... and difficulties administering complex legislation. For the financial advice industry, the ALRC wants to "decouple" 'personal advice' from the definition of 'financial service' and eliminate the term 'financial product advice'. In one proposal the ALRC ...

ASIC sets out limited advice expectations

KARREN VERGARA  |  THURSDAY, 2 DEC 2021
... Advisers' best interests duty and related obligations apply when giving limited advice. "The same rules apply to all personal advice, regardless of whether the advice is limited or comprehensive in scope," ASIC said. INFO 267 and the sample SOA summarises ...