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What does the advice sector want from this year’s budget?

financial-advisers/Sarah-Abood/CSLR/tax-deductable-advice/federal-budget/

| By Jasmine Siljic |
Financial planning

The Financial Advice Association Australia has released its pre-budget submission, including six key items to help reduce the cost of professional advice and increase its accessibility.

AUTHOR

Defend and maintain: Client retention key focus for asset managers

Northern-Trust/morningstar/fund-management/First-Sentier-Investors/Magellan/Platinum/

| By Laura Dew |
Funds management

Rather than gathering new clients and launching new products, the key focus of asset managers right now is to ensure their existing clients are top priority in a bid to prevent outflows.

AUTHOR

Steering through the cyber risk storm in financial services

iress/cybersecurity/WTW/data-breaches/

| By Jasmine Siljic |
Funds management

With US$4.45 million being the global average cost of a data breach in 2023 alongside the rapid explosion of AI, WTW has emphasised why governance efforts are critical in cyber risk management.

AUTHOR

FAAA’s Anderson: CSLR a ‘progressively exploding disaster’

Dixon-Advisory/AFCA/CSLR/complaints/

| By Laura Dew |
Financial planning

Phil Anderson, general manager for financial advice at the FAAA, believes the CSLR levy could reach $100 million if Dixon Advisory complaints are allowed to continue.

AUTHOR

ETFs break 6-month streak with FUM decline

BetaShares/ETFs/international-equities/exchange-traded-funds/

| By Jasmine Siljic |
Funds management

The ETF industry experienced $1.7 billion market cap decline in April, according to Betashares, even with positive inflows driven by international equities products.

AUTHOR

Iress strengthens security after cyber incident

iress/cybersecurity/data-security/

| By Laura Dew |
People & Products

Iress has announced it is strengthening its security settings after suffering an unauthorised access of its systems over the weekend.

AUTHOR

Licensees hopeful of lower PI insurance with safe harbour change

professional-indemnity/PI-insurance/licensees/quality-of-advice-review/Safe-Harbour/best-interest-duty/

| By Laura Dew |
Financial planning

Proposed legislative changes to safe harbour duty could result in advisers having reduced professional indemnity costs, a joint submission by seven major licensees said.

AUTHOR

Avoiding the ‘Mundane Seven’: why the Ex-20 is a sweet spot for returns

Premium-Content/

| By partnerarticle |
Knowledge Centre

AUTHOR

FAAA calls on Jones to address spiralling Dixon Advisory complaints

AFCA/CSLR/Dixon-Advisory/Dixon/

| By Laura Dew |
Financial planning

The FAAA has called on Minister Stephen Jones to address the escalating costs of CSLR as Dixon Advisory complaints to AFCA approach 2,500 following an extension of its AFCA membership.

AUTHOR

MoU signed between AFCA and the CSLR

AFCA/CSLR/financial-advice/Dixon-Advisory/Dixon/

| By Laura Dew |
Financial planning

AFCA and the CSLR have signed a memorandum of understanding as to how they will support an efficient financial services sector via the scheme.

AUTHOR

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