IFSA formally changes name to Financial Services Council
|
|
Members of the Investment and Financial Services Association (IFSA) have formally agreed to a name change following a general meeting in Sydney yesterday.
Members voted to change the organisation’s name to the Financial Services Council and adopted an expanded mandate to more actively engage in economic policy in Australia. The council represents the retail and wholesale funds management, superannuation and life insurance industries, worth $1.4 trillion.
Chairman David Deverall said the wider focus was critical and added that the financial services sector has an obligation to speak on broader economic policy issues that affect the nation.
Chief executive John Brogden said the council would work with government, regulators and other stakeholders to ensure Australia has the best investment, regulatory and business environment.
“We will continue to work on the issues that enhance the domestic investment environment and assist in building the retirement savings, wealth and, ultimately, the lifestyles of all Australians,” Brogden added.
Recommended for you
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.
