The FAAA has warned advisers to be alert if their clients are in an underperforming super fund as this month’s APRA performance test is increased to certain trustee-directed Choice products.
The victims of an alleged Ponzi scheme run by Sydney conwoman, Melissa Caddick, have received their first payout with further payouts expected.
The corporate regulator has commenced its third civil penalty proceedings for alleged greenwashing with the superannuation fund holding investments in Russia when it had listed it as an excluded country.
Almost half of the advisers who have departed this year have been in the industry for less than 10 years while older advisers are pinning their hopes on the experience pathway.
AMP CEO, Alexis George, expects to have an update on the BOLR class action this month but has not ruled out appealing the case, having set aside a “best estimate” of $50 million in provisions.
Following the departure of Lukasz de Pourbaix in April, Lonsec has appointed a new chief investment officer and executive director.
AMP has reported half-year results for its advice division as it updates on the next action in the BOLR class action case.
Earmarking some $520 million in an indemnity deed to former subsidiary Count Financial, CBA’s full-year results reveal a trial date has been fixed for March 2024.
There are three standout platforms dominating the advice market, based on feedback to Adviser Ratings, as the shrinking pool of advisers become a powerful arbiter.
Former Praemium chief distribution officer, Martin Morris, has found a new role at Sequoia Financial Group, among three senior appointments made by the firm.
