New chair of DPSL board announced
Direct Portfolio Services (DPSL) has appointed a new chair for the combined Pentafin and DPSL board. Philippa Smith AM will replace the former chair, Gail Burke, who will remain as a board member.
Pentafin chief executive Connie Mckeage said: “Philippa’s leadership roles, including five years as the Commonwealth Ombudsman, have allowed her to develop strong strategic skills and a passion for superannuation and its impact on the industry.”
Smith was the chief executive officer of the Association of Superannuation Funds of Australia (AFSA) for nine years and is the director of the First State Super Trustee Board. She was awarded the Centenary Award and the Order of Australia in 2003.
“Pentafin’s strategic focus on delivering a comprehensive client administration capability will enable fund managers, platforms and super funds to deliver the highest standards of service to their investors and members across a broad array of investments,” Smith said.
Recommended for you
AZ NGA has entered into a strategic partnership with national advice firm MiQ Private Wealth, as a way to provide a succession solution, as well as career development opportunities for staff.
While the advice profession struggles under growing operating costs, Adviser Ratings has found more than half of practices – some 58 per cent – that generate less than $250,000 in revenue report no profit at all.
The Federal Court has ordered the freezing of assets and the appointment of receivers to two entities linked to Australian Fiduciaries, ASIC’s latest move in an ongoing investigation into the company’s managed investment schemes.
Off the back of the August adviser exam results, the profession has seen 17 new entrants hit the Financial Adviser Register (FAR) this week, helping numbers return to positive territory.