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Financial planners

Yesterday

Michelle Levy recommended a shake-up of the financial advice sector.

Michelle Levy backs big super, Labor in financial advice fee fight

The Quality of Advice Review chairwoman has backed big super funds and Labor’s bid to allow funds to share the cost of financial advice across their membership bases.

  • Updated
  • Hannah Wootton
Anthony Albanese in Peru.

PM’s financial advice reforms at risk of collapse

The government’s efforts to get a deal on giving more Australians access to good financial advice without paying thousands of dollars have stalled after an impasse on funding.

  • Updated
  • Jennifer Hewett

This Month

We remain committed to Commonwealth Private being the number one banking proposition for our high-net-worth clients in Australia,” CBA executive Angus Sullivan said.

CBA exit hands $5b in assets to LGT Crestone

As first reported by Street Talk, CBA sold the Commonwealth Private business and its $5 billion in funds under management to LGT on Monday.

  • Lucas Baird
The highlight was 130 hours spent in the car with my wife and daughters.

A family road trip upended my thinking about how we advise retirees

Spending 130 hours in the car with my wife and daughters made me realise how easily we lose sight of what truly matters.

  • Renato Mota

August

Scott Hartley paused Insignia’s dividend in his first full financial year reporting as CEO.

Insignia shares sink after ‘disappointing’ dividend pause

Delivering his first full-year results as CEO, Scott Hartley said the dividend freeze was needed to strengthen the balance sheet amid remediation costs.

  • Updated
  • Hannah Wootton
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AMP chief executive Alexis George.

AMP cuts financial advice deal, stemming losses

The company will partially sell that business via transactions totalling $92.4 million, while the stock lifted 13 per cent after interim profit beat consensus.

  • Hannah Wootton

July

John Cachia says using a financial adviser helps him with his “blind spots”.

‘I’m a financial adviser but pay somebody else to manage my money’

Thriving Wealth founder John Cachia had three good reasons to outsource his financial affairs.

  • Michelle Bowes

June

Doug Tynan of GCQ Funds Management.

Doug Tynan’s GCQ doubles down on distribution with new hire

The $800 million equity shop has tapped a Franklin Templeton sales director to spearhead its distribution efforts in Victoria, Tasmania and Western Australia.

  • Sarah Thompson, Kanika Sood and Emma Rapaport
Sarah Abood of the Financial Advice Association Australia.

The ghost of Dixon Advisory haunts planning industry

Financial planners are up in arms about being forced to pay out tens of millions of dollars in compensation to victims of the conflict-riddled wealth management firm.

  • Jonathan Shapiro

May

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Investors to be stung by $250m in new advice fees

A tax office ruling will see investors pay 7.5 per cent more for advice obtained from super funds and platforms, despite government moves to cut advice costs.

  • Michelle Bowes
Australian Retirement Trust’s head of retirement Kathy Vincent and head of advice Anne Fuchs are overseeing significant staffing and technological changes as they prepare for new laws to take force.

Super funds spend big ahead of advice reforms

As the legislation enabling them to give more financial advice languishes in Canberra, funds are moving ahead with plans to implement it anyway.

  • Hannah Wootton
Jacqui Henderson, a member of the Financial Services Council’s expert working group on digital advice, says the federal government needs to get the regulatory settings right by reducing onerous paperwork.

The future of financial advice is digital – and human

AI-powered apps are touted as a big part of the solution to providing affordable financial advice en masse, but winning people’s trust is a key challenge.

  • Joanna Mather

How this Millennial plans to retire at 35

Saving hard and opting out of the consumer lifestyle has helped these people retire decades before their parents did.

  • Bianca Hartge-Hazelman

Why I’ve got more in my super than when I retired 11 years ago

Choosing the right financial adviser can help set strategies, achieve goals and protect wealth. Here’s how to find the right one – and how much you should pay.

  • Duncan Hughes
Layla Anna moved back home with her mum due to a high cost of living, and wants help with her finances.

I’m a Zillennial. Is financial advice worth it for me?

At $4700, many young Australians would think twice about taking on a financial adviser. But are there instances when it’s worth it?

  • Lucy Dean
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Assistant Treasurer and Minister for Financial Services Stephen Jones is consulting with industry about financial advice laws.

Government still stumped by financial advice semantics

The government will try to head off a semantic storm over the term “qualified advisers” by replacing the words with “product adviser”.

  • Joanna Mather
More than 450 Australians invested about $US41 million ($62 million) in products offered by NGS Crypto.

Crypto miner spruiked 16pc returns for five years without a licence

A Gold Coast cryptocurrency miner was authorised to provide financial services for less than seven months despite operating for six years.

  • Max Mason
ASIC’s Simone Constant says super funds found evidence of fees being charged but no service delivered.

ASIC finds super funds still charging fees for no service

Super funds are obliged to ensure members are only charged for financial advice they actually receive but not all are doing so.

  • Michelle Bowes

April

First Sentier is shutting its fixed income funds.

First Sentier shuts fixed income funds, hands back $14b

Once a giant of the Australian fixed income scene, the Mitsubishi UFJ-owned fund manager will close four units that manage $14 billion in a major restructure.

  • Jonathan Shapiro and Cecile Lefort
Assistant Treasurer Stephen Jones says the bill doesn’t reflect the government’s position.

Stephen Jones is (still) out of his depth

Stephen Jones aimed for “quick wins” on his legislative agenda. Instead, the government introduced a bill accidentally banning insurance commissions.

  • Updated
  • Myriam Robin

Original URL: https://www.afr.com/topic/financial-planners-5x9