ASIC to conduct intra-fund advice surveillance
The Australian Securities and Investments Commission (ASIC) will conduct a surveillance of intra-fund advice.
The surveillance has been confirmed by ASIC deputy chairman, Peter Kell, who told the Association of Superannuation Funds of Australia (ASFA) conference the regulator was keen to better understand what was being delivered in the intra-fund advice environment.
He said it would be a comprehensive review which would also be looking at the technology being used to deliver intra-fund advice, how well it was working and whether funds were seeking deliver transition to retirement advice under the intra-fund advice label.
Kell said ASIC would be conducting on-site visits and seeking to drill down on the type of advice being provided.
Recommended for you
BT is to launch a new low-cost “Focus” investment menu for its Panorama platform this October, in partnership with Vanguard, seeking to compete with industry superannuation funds.
Net gains of financial advisers have already doubled since the start of FY25, according to this week’s Padua Wealth Data, with momentum gathering pace far faster than the previous financial year.
National advice firm MiQ Private Wealth has appointed a new chief executive to lead the business through a “transformative era” after penning a partnership deal with AZ NGA earlier this month.
WT Financial’s managing director, Keith Cullen, believes the firm’s Hubco model with Merchant Wealth Partners will be a “repeatable growth model” for the business as it scales its adviser numbers.
