Which Australian states are attracting the most retirees?

retirement/Superannuation/ABS/

| By Rhea Nath |

New data from the Australian Bureau of Statistics has revealed which states are seeing growth in their retiree populations and becoming the go-to destination for older Australians.

AUTHOR

Rhea Nath

Rhea L Nath is a journalist at Money Management. She has previously worked as a business reporter with Dynamic Business and journalist in the multicultural media with Indian Link Media Group. In 2022, she was named Young Journalist of the Year at the NSW Premier’s Multicultural Communications Awards.

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Going for broke: The advisers stealing to feed gambling addictions

gambling/financial-advisers/financial-advice/crime/ASIC/mental-health/wellbeing/Hayne-Royal-commission/

| By Laura Dew |

Features

With three separate financial advisers facing criminal proceedings this year having struggled with gambling problems, access to client money combined with a stressful job can be a “perfect storm”, according to experts.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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NextGen adviser numbers plummet

Wealth-Data/Colin-Williams/nextgen/adviser-movement/adviser-numbers/

| By Jasmine Siljic |

Financial planning

Following a loss of 23 advisers over the last two weeks, the licensee’s current adviser numbers sit at just 20 compared to more than 120 in 2019, Wealth Data reports.

AUTHOR

Jasmine Siljic

Jasmine Siljic is a journalist at Money Management. Prior to joining MM, she also worked across other Momentum Media brands as an intern and cadet journalist. She recently completed a Bachelor of Media and Communications at Macquarie University.

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Former van Eyk CEO permanently banned by ASIC

mark-thomas/van-eyk/ASIC/banning/

| By Laura Dew |

Financial planning

Former van Eyk chief executive, Mark Peter Thomas, has been permanently banned by ASIC for performing any function involved in running or controlling a financial services provider.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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ASIC sues AustralianSuper in first joint APRA/ASIC case

ASIC/AustralianSuper/multiple-super-accounts/APRA/

| By Laura Dew |

Superannuation

ASIC has sued the trustee of Australia’s largest super fund, AustralianSuper, alleging failures to address multiple member accounts affecting 90,000 members over a decade, its first case jointly with APRA.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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Advisers short-selling themselves by up to 50%: WT Financial

WT-Financial-Group/Keith-Cullen/advice-fees/financial-advice/

| By Rhea Nath |

Financial planning

Advice firms should be targeting as much as $700,000 per annum per adviser in ongoing advice fees as clients could be willing to pay higher advice fees than advisers are charging, according to WT Financial.

AUTHOR

Rhea Nath

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New entrants to benefit from education legislation changes: FAAA

experience-pathway/education/new-entrants/university/

| By Laura Dew |

Financial planning

A clause in the experience pathway legislation passed yesterday could improve the prescriptive rules imposed on new entrants and translate to more flexibility in the courses required, according to the FAAA.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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ART CEO to depart

Australian-retirement/QSuper/Sunsuper/

| By Laura Dew |

Superannuation

The chief executive of Australia's second-largest super fund, Australian Retirement Trust, is to depart next February.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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‘Outbreak of common sense’ in experience pathway implementation

Wealth-Data/experience-pathway/siaa/

| By Laura Dew |

Financial planning

The experience pathway’s passage through Parliament has been welcomed by the industry as a way to prevent further adviser exodus.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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Higher client fees lead to higher profitability for self-licensed advisers

investment-trends/self-employed-advisers/profits/profitability/

| By Laura Dew |

Financial planning

Self-licensed advisers are most likely to have seen their profit margins increase over the past 12 months, according to research by Investment Trends, as fees increase for clients.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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