Why firms need to scratch the surface of their AI investments

ESG/artificial-intelligence/Alphinity-Investment-Management/BetaShares/fidelity/

| By Rhea Nath |

The optimism behind this disruptive technology has driven markets to record highs, but experts warn there are ESG risks and considerations that can be overlooked.

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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ASIC loses court bid to CommBank, Colonial First State

ASIC/CBA/colonial-first-state/

| By Staff |

Superannuation

The regulator failed to overturn a Federal Court finding that the Commonwealth Bank of Australia and Colonial First State did not receive “conflicted remuneration” benefits under a superannuation agreement.

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First-ever Women in Finance Summit launches

women-in-financial-services/women-in-finance/momentum/gender-diversity/Women-in-Business/

| By Malavika |

People & Products

Momentum Media is proud to launch its inaugural Women in Finance Summit, aimed at supporting and connecting leading female business owners in the financial services space.

AUTHOR

Malavika Santhebennur

Malavika Santhebennur was a news and features financial services journalist at Money Management, part of Financial Express. She has previously written in various industrial publications at Cirrus Media, including mining, food, franchising, and health.

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Client book no longer a barrier to advice recruitment

financial-advisers/recruitment/Kaizen-Recruitment/Wealth-Data/

| By Laura Dew |

Financial planning

With the advice industry experiencing a loss of advisers, holding a solid client book is no longer a requirement as many firms may already have existing clients but lack sufficient advisers.

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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Clime announces new strategic alliance

Clime-Investment-Management/Madison/Madison-Financial-Group/alliance/M&A/

| By Rhea Nath |

People & Products

Madison Financial Group, a wholly owned subsidiary of Clime, has formed a strategic alliance with Practice Development Group, bringing combined FUA to $8 billion through 130 advisers.

AUTHOR

Rhea Nath

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Will QAR drive greater paraplanner demand?

paraplanning/support/quality-of-advice-review/QAR/paraplanners/

| By Jasmine Siljic |

Financial planning

The Quality of Advice Review may be hoping to reduce regulatory red tape but the need for temporary support staff and paraplanners is on the rise as more advisers opt for a micro-AFSL structure.

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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RBA’s Lowe shares biggest regret of governor tenure

Phil-Lowe/RBA/central-bank-policy/covid-19/

| By Laura Dew |

Funds management

RBA governor Philip Lowe has shared his biggest regret as governor as he prepares to step down next month after seven years.

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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RBA pay causes staff dismay

salary/remuneration/RBA/unions/Finance-Sector-Union/

| By Laura Dew |

People & Products

Staff at the RBA are in dispute with the central bank over working conditions and pay rises while its monetary policy board continues to hike interest rates.

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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How AMP plans to stem advice losses

amp/Alexis-George/amp-financial-planning/financial-advice/Matt-Lawler/

| By Laura Dew |

Financial planning

AMP chief executive, Alexis George, has shared her thoughts on Insignia’s new ownership model and whether it will follow its footsteps as it expects $50 million in advice losses for FY23.

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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Sydney adviser receives permanent ban and AFSL cancellation

ASIC/banning/AFSL/cancellation/Sydney/

| By Laura Dew |

Financial planning

ASIC has permanently banned a Sydney financial adviser and cancelled the license of his business after he misappropriated investor funds.

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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