ASIC’s August exam sees highest pass mark of 2023

ASIC exam

| By Rhea Nath |

The corporate regulator has revealed the results of its August financial adviser exam, which has delivered the highest pass mark of the year so far.

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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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Female advisers comprise less than a quarter of the profession

female advisers Wealth Data adviser numbers Women in Business

| By Jasmine Siljic |

Financial planning

According to Wealth Data, less than a quarter of all financial advisers on the ASIC FAR are women, with the accounting and super fund business models having the highest number of female advisers.

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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Two CEOs join FSC board

FSC boards Alexis George Matt Rady BT amp

| By Laura Dew |

People & Products

The Financial Services Council has appointed two financial services chief executives to join its board.

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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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National merger to create $64bn financial services business

Invest Blue ironbark merger

| By Laura Dew |

People & Products

Two national financial services businesses are set to merge this month to create a $64 billion diversified firm with more than 500 staff, striving to become ‘Australia’s trusted home for great advice’.

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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Lack of insurance advice leaving behind underinsured consumers

MLC Life Insurance Adviser Ratings life insurance financial advice risk advice

| By Laura Dew |

Financial planning

Less than half of advisers wrote a life insurance policy in the first half of the year, according to Adviser Ratings, while Deloitte has identified a group of underinsured consumers emerging as a result.

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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Which Australian states are attracting the most retirees?

retirement Superannuation ABS

| By Rhea Nath |

Financial planning

New data from the Australian Bureau of Statistics has revealed which states are seeing growth in their retiree populations and becoming the go-to destination for older Australians.

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Rhea Nath

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Going for broke: The advisers stealing to feed gambling addictions

gambling financial advisers financial advice crime ASIC mental health wellbeing Hayne Royal commission

| By Laura Dew |

Features

With three separate financial advisers facing criminal proceedings this year having struggled with gambling problems, access to client money combined with a stressful job can be a “perfect storm”, according to experts.

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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NextGen adviser numbers plummet

Wealth Data Colin Williams nextgen adviser movement adviser numbers

| By Jasmine Siljic |

Financial planning

Following a loss of 23 advisers over the last two weeks, the licensee’s current adviser numbers sit at just 20 compared to more than 120 in 2019, Wealth Data reports.

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Jasmine Siljic

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Former van Eyk CEO permanently banned by ASIC

mark thomas van eyk ASIC banning

| By Laura Dew |

Financial planning

Former van Eyk chief executive, Mark Peter Thomas, has been permanently banned by ASIC for performing any function involved in running or controlling a financial services provider.

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 sues AustralianSuper in first joint APRA/ASIC case

ASIC AustralianSuper multiple super accounts APRA

| By Laura Dew |

Superannuation

ASIC has sued the trustee of Australia’s largest super fund, AustralianSuper, alleging failures to address multiple member accounts affecting 90,000 members over a decade, its first case jointly with APRA.

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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