Shorten gets mega-portfolio
Bill Shorten has been delivered a mega-portfolio by being elevated to Cabinet as Minister for Workplace Relations while retaining responsibility for both financial services and superannuation.
The move sees Shorten as one of the most powerful members of the Cabinet, although his responsibilities as Assistant Treasurer have been assumed by Mark Arbib.
Shorten's responsibility for both workplace relations and superannuation will place added emphasis on next year's review of the Fair Work Australia Act and will see him follow through on the implementation of the Future of Financial Advice (FOFA) reforms.
The Opposition said Shorten had been rewarded despite a year of failure.
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.