Unadvised Australians ‘oblivious’ to advice benefits: CFS

Superannuation/financial-advice/CFS/colonial-first-state/quality-of-advice-review/

With more than one in three consumers unable to identify a single benefit of financial advice, the industry has been urged to better articulate the positive impact of seeking advice and for advised Australians to act as advocates.

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The five ‘mega forces’ affecting long-term returns: BlackRock

blackrock/global-equities/investment-trends/infrastructure/

BlackRock has highlighted five “mega forces“ impacting investment markets that will change long-term global growth.

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Diverger shareholders approve Count merger

Countplus/Diverger/shareholders/

Diverger shareholders have approved its merger with Count in a vote today, culminating the “dual growth strategy” pursued by the licensee.

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IDR reporting shines spotlight on advisers’ complaint management

ASIC/IDR/WT-Financial-Group/lifespan-financial-planning/complaints/

It may be licensees’ responsibility to report internal dispute resolution regime data to ASIC next month, but they are reminding their advisers of the importance of keeping accurate records.

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Governance body hits out at ‘ad hoc’ reform proposals

ALRC/legislation/financial-advice-reforms/quality-of-advice-review/

A leading governance body has hit out at “specialist interest groups proposing ad hoc law reform” when it comes to reforms of financial services legislation and believes an independent body is needed.

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ME Bank penalised $820k by Federal Court

ASIC/bank/ME-Bank/federal-court/Bank-of-Queensland/

ME Bank has been ordered to pay $820,000 by the Federal Court for pleading guilty to criminal charges of making false and misleading representations, and failing to provide written notices regarding home loans.

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Qld company penalised for false AUM representation

ASIC/penalty/AFSL/queensland/

A Queensland company falsely representing that it managed $6.9 billion for investors and was affiliated with the Financial Services Council has been penalised for false and misleading statements.

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AMP opts for TAL’s insurance as chief claims officer gets hired

TAL/amp/insurance/claims/AFCA/

AMP superannuation members will transition to TAL’s insurance offering in Q2 2024, while the insurer has appointed a new chief claims officer from Westpac.

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Aussie investors’ home bias sees them miss out on ‘extraordinary rebound’

vanguard/BetaShares/ETFs/australian-equities/global-equities/

Australian investors missed out on an ‘extraordinary rebound’ in global equities in 2023 as a home bias meant they invested $5.3 billion in Australian equity ETFs, according to Vanguard.

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Is your superannuation fund among the top 10 of 2023?

SuperRatings/Superannuation/investment-performance/

SuperRatings has shared the top 10 balanced superannuation funds of the calendar year 2023, with the top two funds returning more than 13 per cent each.

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