Perth adviser faces court for allegedly stealing $1m from clients

Gavin-Fineff/ASIC/gambling/

| By Rhea Nath |

A Western Australian financial adviser is on trial for allegedly stealing $1 million from the superannuation accounts of eight clients to fund his gambling habit.

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Gavin Fineff

ASIC

gambling

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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OnePath Custodians receives $1.4m fine from APRA

OnePath/mysuper/APRA/

| By Laura Dew |

Superannuation

OnePath Custodians has been fined $1.46 million for failing to direct 125 member contributions to a MySuper product.

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OnePath

mysuper

APRA

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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Industry says ‘concerns were heard’ with QAR response

quality-of-advice-review/QAR/vanguard/FSC/insignia-financial/Sarah-Abood/

| By Rhea Nath |

Financial planning

The government has announced it will adopt the bulk of Quality of Advice Review recommendations, which has been largely welcomed by industry bodies.

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quality of advice review

AUTHOR

Rhea Nath

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What’s inside the government’s formal QAR response?

quality-of-advice-review/Michelle-Levy/QAR/

| By Laura Dew |

Financial planning

The government has issued its formal response to the Quality of Advice Review, covering removing regulatory red tape, expanding access to retirement income advice and exploring new advice channels.

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quality of advice review

Michelle Levy

QAR

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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Super funds to benefit in QAR response

Superannuation/Association-of-Superannuation-Funds-of-Australia/quality-of-advice-review/

| By Laura Dew |

Financial planning

Superannuation funds are expected to be the big winners in this year’s Quality of Advice Review as Association of Superannuation Funds Australia deputy chief executive, Glen McCrea, welcomes the formal response.

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Superannuation

Association of Superannuation Funds of Australia

quality of advice review

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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Industry panel hopeful of role for banks to close advice gap post-QAR

banking/Superannuation/quality-of-advice-review/CFS/HUB24/abrdn/

| By Laura Dew |

Financial planning

A panel of industry experts believe there is a role for banks to play in providing advice but are expectant of the Quality of Advice review‘s recommendations focusing on superannuation funds.

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banking

Superannuation

quality of advice review

CFS

HUB24

abrdn

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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What does EOFY have in store for advisers?

end-of-financial-year/EOFY/financial-advice/social-security/superannuation-funds/

| By Jasmine Siljic |

Editorial

With the end of financial year around the corner, maximising concessional super contributions and 2024 tax planning will be on advisers’ minds.

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end of financial year

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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Count taps private equity specialist for board

Count-Financial/private-equity/M&A/wealth-management/

| By Laura Dew |

People & Products

Count has appointed a private equity specialist to its board as a non-executive director, indicating further acquisitions could be on the horizon.

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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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Over 170 advisers have faced disciplinary action since 2015

ASIC/Wealth-Data/ASIC-bans/

| By Rhea Nath |

Financial planning

New analysis from Wealth Data has revealed that some 175 advisers have been affected by disciplinary actions over the last nine years.

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ASIC

Wealth Data

ASIC bans

AUTHOR

Rhea Nath

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Insignia investors allege they were misled over insider trading claims

insignia-financial/IOOF/class-action/court/

| By Staff |

Financial planning

The first week of the Insignia Financial class action case has seen allegations of misconduct, insider trading, front running and failures to manage conflicts of interest.