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Licensee battle heats up as Millennium3 deal completes

amp/insignia-financial/licensees/Wealth-Data/adviser-numbers/

| By Jasmine Siljic |
Financial planning

With Insignia’s sale of Millennium3 now completed and seeing 140 advisers move over to WT Financial on Friday, this could cause a shift in which licensee closes out the year with the most advisers.

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amp
insignia financial
licensees
Wealth Data
adviser numbers

AUTHOR

FSCP cancels insolvent adviser’s registration

ASIC/adviser-ban/FSCP/

| By Jasmine Siljic |
Financial planning

A financial adviser has been banned from giving personal advice to retail clients until 2025 after the FSCP found there is a “real risk of harm” to the public’s confidence in the industry if he remains registered.

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ASIC
adviser ban
FSCP

AUTHOR

Perpetual rebuffs $3bn bid from Washington H. Soul Pattinson

Perpetual/Pengana/Washington-H.-Soul-Pattinson/M&A/

| By Laura Dew |
Funds management

Perpetual has rejected a $3 billion acquisition bid from Washington H. Soul Pattinson (WHSP) as it announces a strategic review of its company.

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Perpetual
Pengana
Washington H. Soul Pattinson
M&A

AUTHOR

First chief executive named to lead CSLR regime

CSLR/AFCA/complaints/compensation-scheme-of-last-resort/

| By Jasmine Siljic |
People & Products

The Compensation Scheme of Last Resort’s transitional board has appointed its first chief executive alongside a non-executive director in the lead up to its scheduled commencement in April 2024.

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CSLR
AFCA
complaints
compensation scheme of last resort

AUTHOR

Associations divided on impact of Jones’ QAR advice reforms

FPA/QAR/quality-of-advice-review/financial-services-council/FSC/Blake-Briggs/insignia-financial/renato-mota/

| By Jasmine Siljic |
Financial planning

While the FSC largely supports the final tranche of Delivering Better Financial Outcomes reforms, the FAAA is “deeply concerned” about possible negative implications of the new ‘qualified adviser’ term.

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FPA
QAR
quality of advice review
financial services council
FSC
Blake Briggs
insignia financial
renato mota

AUTHOR

Founding member leaves as AFCA appoints replacement

AFCA/boards/complaints/

| By Jasmine Siljic |
People & Products

The Australian Financial Complaints Authority has welcomed a new member to its independent board as it announces the departure of a founding member.

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AFCA
boards
complaints

AUTHOR

Relative Return: Navigating the ETF space

Podcast/Relative-Return/

| By Robyn Tongol |
Editorial

In this episode of Relative Return, James Harwood, senior portfolio manager at Russell Investments, joins host Phil Tarrant to discuss the burgeoning ETF space and how the asset class can form part of an investment portfolio.

AUTHOR

New look for advice documentation as SOAs scrapped

statements-of-advice/quality-of-advice-review/Stephen-Jones/Best-Financial-Interests-Duty/

| By Laura Dew |
Financial planning

Unveiling the final tranche of Delivering Better Financial Outcomes, Minister for Financial Services, St

Read more about:
statements of advice
quality of advice review
Stephen Jones
Best Financial Interests Duty

AUTHOR

Jones unveils final QAR reforms

Stephen-Jones/quality-of-advice-review/treasury/financial-advice/statement-of-advice/banks/

| By Laura Dew |
Financial planning

Minister for financial services, Stephen Jones, has unveiled the final tranche of his Delivering Better Financial Outcomes reforms with a focus on banks, simpler advice documentation and a new type of 'qualified adviser'.

Read more about:
Stephen Jones
quality of advice review
treasury
financial advice
statement of advice
banks

AUTHOR

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