Skip to main content

AFSL hit with $11m penalty over conflicted remuneration

AFSL hit with $11m penalty over conflicted remuneration

A financial planning licensee has been hit with an $11m Federal Court penalty over conflicted remuneration and cookie cutter advice.
Financial adviser numbers stand at 15,610

Financial adviser numbers stand at 15,610

Financial adviser numbers on the FAR have grown by 134 this year to 15,610 revealing just how slow a return to pre-2018 numbers will be.
Is Mulino ALP’s next Financial Services pick?

Is Mulino ALP’s next Financial Services pick?

WIth a PhD in economics and a policy background, Daniel Mulino, is being viewed as the ALP's likely next financial services portfolio pick.
Australian flag with stock ticker

Financial services want bipartisan policy common sense

Mike Taylor 17 April 2025 No Comments

The major political parties are being urged by the financial services sector to deliver common sense and policy certainty.

M&A

Centrepoint acquires Brighter Super advice business

Mike Taylor 16 April 2025 3 Comments

In what represents a modest but important transaction, Centrepoint Alliance has moved to acquire the Brighter Super financial advice book.

elder abuse

FAAA questions possible AFCA over-reach

Mike Taylor 11 April 2025 4 Comments

The FAAA has challenged AFCA to explain why it believes it has the power to set standards around elder abuse in financial services.

Blame/Shame blocks

ASIC proposes naming AFSLs on breach dashboards

Mike Taylor 11 April 2025 5 Comments

Financial advice licensees are facing being named on new dashboards being proposed by ASIC as part of the breach reporting regime.

adviser comings & goings

Adviser exam graduates boost FAR numbers

Mike Taylor 11 April 2025 One Comment

Financial advisers numbers have been boosted by those who passed the latest financial adviser exam registering on the FAR.

Federal Election

No matter which party wins, fixing the CSLR must be priority

Mike Taylor 10 April 2025 No Comments

No matter which of the major parties wins the Federal Election fixing the CLSR has to be a priority says the FAAA.

ASIC fines unregistered advisers

ASIC dishes out $100k in fines for unregistered advisers

Patrick Buncsi 10 April 2025 2 Comments

ASIC has issued nearly $100,000 in fines to three Australian advice firms for providing personal advice through unregistered advisers.


INDUSTRY NEWS

Trade, tariffs, and the market response

Financial Newswire Contributor 21 April 2025

Industry News

No Comments

Global markets have been rattled following proposed tariff implementations. Fidelity experts weigh in across asset classes and lay out their thinking

Thinking Local, Winning Global – Unit Registry as a Strategic Advantage

Financial Newswire Contributor 20 February 2025

Industry News

No Comments

 Unlock the potential of unit registry to streamline operations, strengthen investor relationships and transform data into a powerful tool for growth 

The future of equities

Financial Newswire Contributor 10 March 2025

Industry News

No Comments

Find out what Loomis Sayles’ Aziz Hamzaogullari had to say about the future of equities in our Next Decade Investing white paper.

Protect their futures. Grow your business. 

Financial Newswire Contributor 1 March 2025

Industry News

No Comments

By combining MLC Life Insurance’s 138-year history with the support of Nippon Life, Acenda will continue to offer competitive and innovative cover.


Filter

community platform

Iress boosts info-sharing initiative with new contributors added

Yasmine Raso | 10 April 2025Iress' community platform, Advisely, has welcomed 10 new contributors, boosting its financial advice expertise and business knowledge.
Under investigation

Sequoia confirms ASIC Interprac Shield Funds scrutiny

Mike Taylor | 9 April 2025Sequoia has formally confirmed that its wholly-owned financial advice subsidiary, Interprac, is exposed to ASIC's Shield Fund inquiries.
Digital platform engagement

AIOFP partners with moneyGPS on single issue digital advice

Mike Taylor | 9 April 2025THe AIOFP has entered into another commercial deal working with moneyGPS to enable them to deliver single issue digital advice.
Senior leadership appointment

Fitzpatricks appoints former CFS product exec to new role

Yasmine Raso | 9 April 2025Fitzpatricks Group has named former Colonial First State product executive, Andrew Chapple, as its new Head of Product.
Pass Failed blocks

Labor’s financial services report card = 30/100

Mike Taylor | 7 April 2025When the Government's promises on financial services are weighed against its achievements over the past three years, it barely scrapes 30/100.

WT/Merchant JV fund 3 advice practice roll-up

Mike Taylor | 7 April 2025WT Financial has leveraged its joint venture with Merchant Wealth Partners to fund the roll-up of three advice practices into a new entity.
Mortgage distress

Little CSLR levy relief foreshadowed in Budget papers

Mike Taylor | 4 April 2025Financial advisers have been looking for respite from the cost of the ASIC and CSLR levies but the Budget papers portray a grim outlook.
HeirWealth performance reporting

Licensees compete to attract practices

Mike Taylor | 4 April 2025Competition has remained hot between licensees to attract both financial planning practices and good financial advisers.