Minister for financial services, Stephen Jones, has reacted to the news of AustralianSuper’s refund for tens of thousands of members, stating the breach is “unacceptable”.
A leading fund manager says the structural deflation that made Australians real estate millionaires is over and investors should get ready for a decade of little to no capital growth in housing.
Adviser numbers saw a quarterly rise for the first time in five years, according to the latest Musical Chairs report from Adviser Ratings.
New data has explored the most popular holdings of over 1,000 millionaire investors on the Selfwealth platform, with almost a third being held in self-managed superannuation funds.
Since 11 March 2020, the financial services ombudsman has registered over 17,000 COVID-related complaints relating to banking, insurance and other financial services.
Sustainable cashflow is the apex for financial advice firms today and growth can be a bitter pill to swallow amid growing compliance and administration costs, writes Umesh Banga.
Around 100,000 AustralianSuper members could receive refunds as the fund sets aside $70 million after a processing failure regarding multiple member accounts.
Whilst micro-AFSLs’ numbers continue to grow, larger licensees including AMP and Insignia Financial are struggling to hold down their advisers.
Morningstar's managing director for Australia and New Zealand, Jamie Wickham, is to depart the business after 17 years and will be replaced by the firm’s wealth head.
The Australian ETF industry saw trading values fall to their lowest values in over two years as April’s figure was almost half its March value.
