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
As private markets garner mainstream attention, a panel of experts believe access to the asset class through managed accounts will become more widely available, providing opportunities for advisers to diversify portfolios.
While retail investors turned to blue-chip stocks last month, according to AUSIEX trading data, September saw advised investors switch into ETFs.
With the intergenerational wealth transfer underway in Australia, wealth managers are focusing on how they can attract the next generation of advisers to service these younger clients.
ASIC wants to expand proceedings against Equity Trustees to seek compensation for members following Macquarie’s agreement to pay $321 million over Shield failings.