Adviser numbers backtrack after strong growth

Wealth-Data/adviser-numbers/Colin-Williams/

| By Jasmine Siljic |

After growth of more than 30 last week thanks to record advice exam results, the financial advice profession has once again backtracked with double-digit losses, Wealth Data reveals.

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Wealth Data

adviser numbers

Colin Williams

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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ASIC levy prompts doubling of ongoing fees for Qld adviser

ASIC/ASIC-levy/financial-advisers/enforcement/

| By Laura Dew |

Financial planning

A Queensland financial adviser has detailed how the latest ASIC levy increase has caused him to double the ongoing advice fee for his clients to meet the cost.

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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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'Reprehensible' former Melbourne adviser sentenced over $10m theft

Melbourne/financial-theft/court/sentence/

| By Laura Dew |

Financial planning

A former financial adviser who pled guilty to stealing $10 million from his clients to spend on boats and helicopters has been sentenced in a Melbourne court, with the judge describing his conduct as “reprehensible”.

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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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Q3 sees plenty of ASIC bans and court action

banning/ASIC/court/complaints/breaches/

| By Rhea Nath |

Financial planning

The last three months have seen at least three high-profile court cases involving adviser misconduct, keeping the corporate regulator on its toes to wrap up a busy quarter.

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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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Could banks move into the retirement space?

banks/decumulation/EY/retirement/Hayne-Royal-commission/

| By Laura Dew |

Financial planning

EY believes there is a benefit for banks in returning to the wealth space and developing decumulation products for consumers entering retirement.

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banks

decumulation

retirement

Hayne Royal commission

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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ASIC prosecution referrals plunge by half since 2019

ASIC/prosecution/legal/andrew-bragg/

| By Laura Dew |

Policy & Regulation

The Senate economics reference committee has shared data from the Commonwealth Director of Public Prosecutions on the number of prosecutions referred to it by ASIC in the last financial year.

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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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Why are fund managers reluctant to discuss Voice referendum?

indigenous-australians/first-nations/RIAA/

| By Rhea Nath |

Funds management

Growing public sentiment has seen Australia’s corporate world and super funds venture into conversations around the Voice to Parliament, but it appears fund managers are more reluctant to reveal their stance.

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indigenous australians

first nations

RIAA

AUTHOR

Rhea Nath

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RBA's Bullock makes first rate decision

RBA/Phil-Lowe/monetary-policy/interest-rates/

| By Laura Dew |

Funds management

In her first meeting as RBA governor, Michele Bullock has made the monetary policy decision on the monthly cash rate.

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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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Government releases $3m super tax reform draft legislation

Superannuation/taxation/treasury/

| By Rhea Nath |

Superannuation

The Federal Government has released exposure draft legislation towards doubling the concessional tax rate for super balances exceeding $3 million.

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Superannuation

taxation

treasury

AUTHOR

Rhea Nath

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The biggest people moves of Q3

hires/exit/appointments/people-moves/

| By Laura Dew |

People & Products

Money Management collates the biggest hires and exits in the financial services space of the last three months.

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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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Adviser numbers backtrack after strong growth

AUTHOR

Jasmine Siljic

Jasmine 's social profiles:

ASIC levy prompts doubling of ongoing fees for Qld adviser

AUTHOR

Laura Dew

Laura 's social profiles:

'Reprehensible' former Melbourne adviser sentenced over $10m theft

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Laura Dew

Laura 's social profiles:

Q3 sees plenty of ASIC bans and court action

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Rhea Nath

Rhea 's social profiles:

Could banks move into the retirement space?

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Laura Dew

Laura 's social profiles:

ASIC prosecution referrals plunge by half since 2019

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Laura Dew

Laura 's social profiles:

Why are fund managers reluctant to discuss Voice referendum?

AUTHOR

Rhea Nath

Rhea 's social profiles:

RBA's Bullock makes first rate decision

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Government releases $3m super tax reform draft legislation

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Rhea Nath

Rhea 's social profiles:

The biggest people moves of Q3

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