Criticism continues for First Home Saver Account
The peak body for the not-for-profit superannuation sector — the Australian Institute of Superannuation Fund Trustees (AIST) — is calling for feedback on the Government’s proposed First Home Saver Account initiative.
AIST believes the proposed account presents both opportunities and challenges for the not-for-profit super sector and has asked its members to consider a number of points.
AIST hopes discussion will be raised surrounding the new costs for super funds that will arise from the need to establish a separate trust to offer the accounts.
It also recommends a flat-percentage co-contribution for all income levels to assist lower income earners as well as a cap on fees and the exclusion of commission-based selling practices.
Recommended for you
With an advice M&A deal taking around six months to enact, two experts have shared their tips on how buyers and sellers can avoid “deal fatigue” and prevent potential deals from collapsing.
Several financial advisers have been shortlisted in the ninth annual Women in Finance Awards 2025, to be held on 14 November.
Digital advice tools are on the rise, but licensees will need to ensure they still meet adviser obligations or potentially risk a class action if clients lose money from a rogue algorithm.
Shaw and Partners has merged with Sydney wealth manager Kennedy Partners Wealth, while Ord Minnett has hired a private wealth adviser from Morgan Stanley.
