Industry funds want expansion of intrafund definition



Industry Funds Services (IFS) is canvassing the prospect of expanding the definition of intrafund advice.
IFS chief executive, Cath Bowtell has told a financial planning session at the Conference of Major Superannuation Funds that the need for an expanded definition was already being canvassed and discussed in the context of the reality confronting superannuation funds.
She said the discussion around expanding the definition was being held in the context that the minute a spouse’s position came into the intra-fund advice discussion the rules changed.
“You become exposed to the full regulatory regime,” Bowtell.
She said the issue of prosecuting a campaign around expanding the definition was being pursued because of the current needs of members and it being a good time to go back to policy-makers and regulators.
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.