Advice advocacy and the ‘alphabet soup’ of associations

FSC Blake Briggs associations financial services council

| By Rhea Nath |

Financial Services Council chief executive, Blake Briggs, has shed a light on the need for industry body consolidation and how meaningful engagement between groups has brought the advice debate to where it is today.

AUTHOR

Rhea Nath

Rhea L Nath is a journalist at Money Management. She has previously worked as a business reporter with Dynamic Business and journalist in the multicultural media with Indian Link Media Group. In 2022, she was named Young Journalist of the Year at the NSW Premier’s Multicultural Communications Awards.

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Financial adviser enters skills shortage list

financial advisers treasury hiring migration Jobs

| By Laura Dew |

Financial planning

Financial investment advisers have been identified as a job experiencing a national skills shortage while a Treasury report has found migrant advisers are among the least likely to be working in their chosen field.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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Ex-AMP planner calls for firm to ‘do the right thing’ in mediation

amp class action bolr buyer of last resort appeal

| By Laura Dew |

Financial planning

Justice Mark Moshinsky has ruled a timeline for mediation between AMP Financial Planning and Equity Financial Planners to begin, and a former planner has called for the firm to “do the right thing” by paying advisers and rebuilding its reputation.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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How jailed former adviser conned his victims out of $10m

ASIC court Melbourne financial advice

| By Laura Dew |

Financial planning

Court documents have revealed how former Melbourne adviser, Terence Nugara, was able to steal $10 million from his clients by promising returns as high as 98 per cent from bogus property developments.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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Adviser numbers backtrack after strong growth

Wealth Data adviser numbers Colin Williams

| By Jasmine Siljic |

Financial planning

After growth of more than 30 last week thanks to record advice exam results, the financial advice profession has once again backtracked with double-digit losses, Wealth Data reveals.

AUTHOR

Jasmine Siljic

Jasmine Siljic is a journalist at Money Management. Prior to joining MM, she also worked across other Momentum Media brands as an intern and cadet journalist. She recently completed a Bachelor of Media and Communications at Macquarie University.

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ASIC levy prompts doubling of ongoing fees for Qld adviser

ASIC ASIC levy financial advisers enforcement

| By Laura Dew |

Financial planning

A Queensland financial adviser has detailed how the latest ASIC levy increase has caused him to double the ongoing advice fee for his clients to meet the cost.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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'Reprehensible' former Melbourne adviser sentenced over $10m theft

Melbourne financial theft court sentence

| By Laura Dew |

Financial planning

A former financial adviser who pled guilty to stealing $10 million from his clients to spend on boats and helicopters has been sentenced in a Melbourne court, with the judge describing his conduct as “reprehensible”.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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Q3 sees plenty of ASIC bans and court action

banning ASIC court complaints breaches

| By Rhea Nath |

Financial planning

The last three months have seen at least three high-profile court cases involving adviser misconduct, keeping the corporate regulator on its toes to wrap up a busy quarter.

AUTHOR

Rhea Nath

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Could banks move into the retirement space?

banks decumulation EY retirement Hayne Royal commission

| By Laura Dew |

Financial planning

EY believes there is a benefit for banks in returning to the wealth space and developing decumulation products for consumers entering retirement.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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ASIC prosecution referrals plunge by half since 2019

ASIC prosecution legal andrew bragg

| By Laura Dew |

Policy & Regulation

The Senate economics reference committee has shared data from the Commonwealth Director of Public Prosecutions on the number of prosecutions referred to it by ASIC in the last financial year.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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