Could advisers face their own greenwashing scrutiny?

ASIC/greenwashing/ESG/RIAA/

| By Rhea Nath |

EXCLUSIVE As clients increasingly seek sustainability-related products and funds, advisers who recommend them could eventually fall under the greenwashing purview of regulators, industry experts suggest.

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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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Former FSC CEO to chair fintech Ignition Advice

Sally-Loane/Ignition-Advice/chair/

| By Rhea Nath |

People & Products

A former chief executive of the Financial Services Council has been named as the next chair of Ignition Advice, succeeding Peter Meurer.

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Rhea Nath

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Markets surprised by June rate call

RBA/Jim-Chalmers/interest-rates/inflation/central-banks/

| By Rhea Nath |

Funds management

The Reserve Bank of Australia defied hold expectations in June, surprising market participants by raising the interest rate further to 4.1 per cent in its continued battle against inflation.

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Rhea Nath

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Advisory firms best able to weather fee pressures

advice-fees/fees/model-portfolios/

| By Laura Dew |

Financial planning

Advisory firms are the only part of the investment value chain to escape fee pressure over the last five years in the face of shrinking margins and rising costs, according to a global report by FNZ and Boston Consulting Group.

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 makes latest rate call

RBA/interest-rates/central-banks/Phil-Lowe/

| By Laura Dew |

Funds management

The RBA has made its latest interest rate call for June with the bank warning further rate hikes are still to come.

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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Qld adviser banned for five years

financial-advisers/banning/

| By Laura Dew |

Financial planning

A Brisbane financial adviser has been banned by ASIC after recommending his clients roll their superannuation into SMSFs and borrow to invest in residential property.

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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Magellan insto flows stabilise after year of outflows

Magellan/FUM/David-George/

| By Laura Dew |

Funds management

Magellan Financial Group has seen flat net institutional flows for the first time in a year while Australian equities outflows have moderated after significant outflows in the past two months.

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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Adelaide-based AFSL sees licence suspended

AFSL/ASIC/managed-investment-scheme/

| By Rhea Nath |

Financial planning

ASIC has suspended the AFS licence of a managed investment schemes and general advice provider after it failed to lodge financial statements and audit reports for the financial years 2019-2022.

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Rhea Nath

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‘Houston, we have a Spaceship problem’

spaceship/spaceship-capital/ASIC/AAT/

| By Laura Dew |

Funds management

Four interim stop orders issued against Spaceship are the latest in a series of issues between the investment firm and the regulator over the last five 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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FSCP publishes first adviser misconduct verdict

AFCA/ASIC/FSCP/misconduct/

| By Laura Dew |

Financial planning

Single disciplinary body the Financial Services and Credit Panel has published its first outcome, relating to an adviser who impersonated a client on the phone.

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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