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
Ahead of the 1 January 2026 education deadline for advisers, ASIC has issued its ‘final warning’ to the industry, reporting that more than 2,300 relevant providers could be on their way out.
As high-net-worth investors look to opportunities in alternatives, Praemium has revealed that advisers who can deliver on this demand tend to have deeper relationships with their clients as they are seeking more involvement in the investment process.
As adviser-client relationships stabilise, Investment Trends’ latest report said digital hybrid advice models are key to addressing the supply-demand gap in Australia.
A Koda Capital partner and executive team member, who joined the firm from almost a decade in advice roles at AMP, has departed the wealth manager.
