Melbourne wants piece of action
The Victorian government is to embark on an aggressive campaign to launch the state as major centre for financial services.
The Victorian government is to embark on an aggressive campaign to launch the state as major centre for financial services.
Premier Steve Bracks says the government plans to woo financial services invest-ment to Victoria and challenge Sydney's current domination.
"The new Victorian government ... will work aggressively to attract new invest-ment from this sector to our state," he says.
His comments come amidst federal government initiatives designed to attract global financial services groups to Australia. There has been a perception in the Melbourne financial services community that Sydney was being favoured as the destination being pushed by Financial Services minister Joe Hockey.
Bracks denies his drive to put Victoria on the map as a major financial services player is driven by traditional interstate commercial rivalry. There are national ad-vantages in building strong regional financial service centres in Melbourne as well as Sydney, he says.
"And that we develop a regional presence in financial services on the basis of co-operation, rather than competition between cities, states and regions," he says.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
