Inappropriate advice relating to SMSFs has been identified as a pain point for the advice industry, with professionals claiming these vehicles can draw out “the worst of the worst” in financial services.

Financial investment advisers have been singled out as a core skill in demand in Australia, with the government aiming to attract more skilled migrants to the sector.

Magellan has seen its funds under management surpass $39 billion to the highest volume since August 2023, helped by three fund launches in association with Vinva Investment Management.

The second tranche of DBFO reforms has received strong support from superannuation funds and insurers, with a new class of advisers aimed to support Australians with their retirement planning.

Money Management’s sister title ifa has announced 36 winners for the 11th annual ifa Excellence Awards 2024 at a ceremony in Sydney.

The advice industry has broadly welcomed the legislative groundwork surrounding the latest set of financial advice reforms, although they note “the devil’s in the details”.

Centrepoint Alliance has formally launched its investment and superannuation platform IconiQ, in association with technology firm FNZ, as it looks to tap into the $1.1 trillion platform market.

ASIC has warned licensees are demonstrating an “acceptance for internal non-compliance” when it comes to the reportable situations regime as a review finds a licensee took 12 years to commence an investigation into a breach.

Queensland financial advice firm MiQ Private Wealth has become the latest practice to utilise Yodal’s software for a digital estate planning solution as it expands its client offering.