Will QAR drive greater paraplanner demand?

paraplanning support quality of advice review QAR paraplanners

| By Jasmine Siljic |

The Quality of Advice Review may be hoping to reduce regulatory red tape but the need for temporary support staff and paraplanners is on the rise as more advisers opt for a micro-AFSL structure.

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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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RBA’s Lowe shares biggest regret of governor tenure

Phil Lowe RBA central bank policy covid-19

| By Laura Dew |

Funds management

RBA governor Philip Lowe has shared his biggest regret as governor as he prepares to step down next month after seven years.

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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RBA pay causes staff dismay

salary remuneration RBA unions Finance Sector Union

| By Laura Dew |

People & Products

Staff at the RBA are in dispute with the central bank over working conditions and pay rises while its monetary policy board continues to hike interest rates.

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 AMP plans to stem advice losses

amp Alexis George amp financial planning financial advice Matt Lawler

| By Laura Dew |

Financial planning

AMP chief executive, Alexis George, has shared her thoughts on Insignia’s new ownership model and whether it will follow its footsteps as it expects $50 million in advice losses for FY23.

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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Sydney adviser receives permanent ban and AFSL cancellation

ASIC banning AFSL cancellation Sydney

| By Laura Dew |

Financial planning

ASIC has permanently banned a Sydney financial adviser and cancelled the license of his business after he misappropriated investor funds.

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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New head of platform strategy appointed at BT

westpac BT platforms

| By Rhea Nath |

People & Products

As Westpac retains the BT platform business, a senior member of staff has returned to the firm after departing last year to lead its platform strategy.

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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FSCP hands down first ‘written reprimand’ around advice scoping

FSCP ASIC financial advice code of ethics

| By Rhea Nath |

Financial planning

Tackling issues around inappropriate scoping of advice, the Financial Services and Credit Panel has announced its first ‘written reprimand’.

AUTHOR

Rhea Nath

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Advisers to expect increased workload as YFYS test gets expanded

taxation performance test financial advice YFYS APRA

| By Laura Dew |

Financial planning

The FAAA has warned advisers to be alert if their clients are in an underperforming super fund as this month’s APRA performance test is increased to certain trustee-directed Choice products.

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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Melissa Caddick’s victims receive first payout

Ponzi scheme Melissa Caddick financial advice

| By Laura Dew |

Financial planning

The victims of an alleged Ponzi scheme run by Sydney conwoman, Melissa Caddick, have received their first payout with further payouts expected.

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 super fund has fallen foul of ASIC’s greenwashing crackdown?

ASIC greenwashing Active Super court

| By Laura Dew |

Superannuation

The corporate regulator has commenced its third civil penalty proceedings for alleged greenwashing with the superannuation fund holding investments in Russia when it had listed it as an excluded country.

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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