Consultation opens on government’s sustainable finance strategy

sustainable-finance/ASFI/sustainability/

| By Rhea Nath |

The government is seeking feedback on Australia’s sustainable finance strategy, which has been structured around the pillars of improved transparency on climate and sustainability, financial system capabilities, and government leadership and engagement.

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sustainable finance

ASFI

sustainability

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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Dixon Advisory consumer losses totalling $357 million: AFCA

Dixon-Advisory/dass/AFCA/andrew-bragg/

| By Laura Dew |

Financial planning

If all the 1,851 complaints of losses made to AFCA about Dixon Advisory were paid out, it would total $357 million, the organisation said, but it is yet to issue any formal determinations.

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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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Advice association calls for scrapping of adviser exam

financial-advice/FASEA/financial-adviser-examination/

| By Laura Dew |

Financial planning

An advice association has called for the financial adviser exam to be scrapped, arguing it has served its purpose and is an unnecessary expense.

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financial advice

FASEA

financial adviser examination

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 does ASIC determine its greenwashing action?

greenwashing/ASIC/Sarah-Court/ESG/

| By Rhea Nath |

Funds management

The corporate regulator has outlined its philosophy in dealing with greenwashing and the by-product of greenhushing, having already reported around 35 of such interventions since undertaking this strategic priority in the last year.

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AUTHOR

Rhea Nath

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Insignia and AMP CEOs on reinventing advice for middle Australia

amp/insignia/Alexis-George/renato-mota/quality-of-advice-review/

| By Rhea Nath |

Financial planning

The chief executives of AMP and Insignia have shared their thoughts on how regulatory and technological developments can help a largely underserved “middle Australian” population from falling through the cracks of financial advice.

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quality of advice review

AUTHOR

Rhea Nath

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Fund managers feeling pressure from super internalisation

super-funds/fund-managers/super-consolidation/

| By Laura Dew |

Funds management

A quarter of fund managers surveyed by Frontier have named the move towards internalisation by super funds as the biggest challenge to their business as they seek to retain super mandates.

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super funds

fund managers

super consolidation

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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Advice breaches decline but ASIC concerned at industry inaction

ASIC/financial-advice/licensees/

| By Laura Dew |

Financial planning

ASIC has indicated its disappointment that “little improvement” has been made on the reportable situation regime but financial advice breaches have declined over the year.

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ASIC

financial advice

licensees

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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FAAA loses over 1k members in FY22–23

FPA/AFA/Wealth-Data/adviser-numbers/

| By Laura Dew |

Financial planning

Membership of the FAAA declined by 11.7 per cent in the last financial year, according to its 2023 annual report, three times faster than the overall decline in adviser numbers over the period.

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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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Rival bidder enters frame for Diverger

Diverger/acquisition/

| By Rhea Nath |

Financial planning

Diverger has confirmed a rival bidder has put forward a competing proposal for acquisition, though Count continues to be the frontrunner in the eyes of the board.

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Diverger

acquisition

AUTHOR

Rhea Nath

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Global advice group sees assets frozen by Federal Court

ASIC/federal-court/

| By Laura Dew |

Financial planning

A global advisory firm has been ordered by the Federal Court to freeze its funds and assets for failing to lodge financial statements.

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ASIC

federal court

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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Advice association calls for scrapping of adviser exam

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Insignia and AMP CEOs on reinventing advice for middle Australia

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Fund managers feeling pressure from super internalisation

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Advice breaches decline but ASIC concerned at industry inaction

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FAAA loses over 1k members in FY22–23

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