Need for mature debate in financial services
David Deverall
The Investment and Financial Services Association (IFSA) national conference on the Gold Coast has been told that, at a time when markets are tough, the debate being conducted about the future of the Australian financial services industry needs to be a mature one.
The chairman of IFSA and managing director of Perpetual, David Deverall, said there could be no doubting that investor confidence had been shaken but that it was up to the industry and the association to show leadership.
“The cyclical nature of markets means that we will inevitably endure periods where our industry will be stress tested,” he said. “We must draw on our experience and professionalism to evolve and innovate.”
He said that since the last IFSA national conference there had been the election of a new government, and that in tough markets the debate needed to be a mature one.
“It is good to see that having moved out of shadow portfolios the relevant ministers continue to recognise the importance of the financial services industry,” Deverall added.
Recommended for you
BT is to launch a new low-cost “Focus” investment menu for its Panorama platform this October, in partnership with Vanguard, seeking to compete with industry superannuation funds.
Net gains of financial advisers have already doubled since the start of FY25, according to this week’s Padua Wealth Data, with momentum gathering pace far faster than the previous financial year.
National advice firm MiQ Private Wealth has appointed a new chief executive to lead the business through a “transformative era” after penning a partnership deal with AZ NGA earlier this month.
WT Financial’s managing director, Keith Cullen, believes the firm’s Hubco model with Merchant Wealth Partners will be a “repeatable growth model” for the business as it scales its adviser numbers.
