Yesterday
I’m a Zillennial. Is financial advice worth it for me?
At $4700, many young Australians would think twice about taking on a financial adviser. But are there instances when it’s worth it?
- Lucy Dean
How this Millennial plans to retire at 35
Saving hard and opting out of the consumer lifestyle has helped these people retire decades before their parents did.
- Bianca Hartge-Hazelman
Why I’ve got more in my super than when I retired 11 years ago
Choosing the right financial adviser can help set strategies, achieve goals and protect wealth. Here’s how to find the right one – and how much you should pay.
- Duncan Hughes
This Month
Government still stumped by financial advice semantics
The government will try to head off a semantic storm over the term “qualified advisers” by replacing the words with “product adviser”.
- Joanna Mather
Crypto miner spruiked 16pc returns for five years without a licence
A Gold Coast cryptocurrency miner was authorised to provide financial services for less than seven months despite operating for six years.
- Max Mason
ASIC finds super funds still charging fees for no service
Super funds are obliged to ensure members are only charged for financial advice they actually receive but not all are doing so.
- Michelle Bowes
April
First Sentier shuts fixed income funds, hands back $14b
Once a giant of the Australian fixed income scene, the Mitsubishi UFJ-owned fund manager will close four units that manage $14 billion in a major restructure.
- Jonathan Shapiro and Cecile Lefort
Stephen Jones is (still) out of his depth
Stephen Jones aimed for “quick wins” on his legislative agenda. Instead, the government introduced a bill accidentally banning insurance commissions.
- Updated
- Myriam Robin
Labor scrambles after accidentally axing insurance commissions
A wording error in financial advice reforms tabled to Parliament last week would have inadvertently banned commissions for insurance brokers.
- Hannah Wootton and Lucy Dean
March
Escala Partners dials up client fees after LGT Crestone snares advisers
Dragging its top revenue-writers to court didn’t work for Escala Partners. Now it is ready to pull another lever in its quest to plug talent (and revenue) leakage to rival LGT Crestone.
- Sarah Thompson, Kanika Sood and Emma Rapaport
February
- Opinion
- Chanticleer
Confessions of a royal commission survivor
Renato Mota took on one of the biggest post-royal commission rebuilds at Insignia. He leaves after five years with questions over where advice and super are heading.
- James Thomson
Macquarie’s war on big four escalates with business lending assault
Macquarie said it had appetite to deploy its retail banking technology into the business market to grow deposits and lending against CBA and NAB.
- Updated
- James Eyers
January
Financial advisers likely to give bitcoin ETF a ‘wide berth’
But some say there is a place for cryptocurrencies in portfolios – although in small proportions, like gold.
- Joanna Mather
December 2023
- Opinion
- Australian economy
Simple financial advice requires tax reform to end complexity
A thicket of rules around retirement planning means making it easier for super funds to provide guidance will not be as transformational as some seem to think.
- Brad Ruting and Emily Millane
Super funds, insurers line up to get into financial advice game
Michelle Levy, whose review into financial advice led to many of the proposed new laws, said the changes would go “a long way” to making advice cheaper and more accessible.
- Hannah Wootton
- Opinion
- Financial planning
Safer, simpler financial advice to deliver the best outcomes for all
While we have been pretty effective at protecting Australians from bad advice, we have also protected them from good advice. This is now going to change.
- Stephen Jones
Banks, insurance, super win financial advice relief
Financial institutions will be able to give personal advice to customers at scale, with Labor announcing wind back of rules which followed Hayne royal commission.
- Hannah Wootton
November 2023
AMP share price jumps after $100m class action settlement
Analysts previously predicted the financial services giant could be on the hook for even more than this amount over the case, which related to its controversial adviser payout policy.
- Hannah Wootton
Super funds on spending spree to improve customer service
But there are concerns the cost of improving service could drive up fees, even as the government and regulators warn of a crackdown on poor standards across the $3.5 trillion sector.
- Hannah Wootton
Pinnacle-backed wealth platform OpenInvest seeks buyer pre-Xmas
Sources say the platform is in ongoing discussions with a handful of interested parties.
- Sarah Thompson, Kanika Sood and Emma Rapaport
