NextGen ordered by court to pay $270k for inappropriate advice

federal court AFCA inappropriate advice nextgen complaints

NextGen Financial Group has been ordered by the Federal Court to pay $270,000 to an SMSF trustee over an unpaid AFCA determination regarding inappropriate financial advice.

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Jones believes industry can return to 30k advisers

Stephen Jones education adviser numbers Sarah Abood super advice

Minister for Financial Services, Stephen Jones, believes the industry can return to 30,000 advisers but new pathways are needed as it is unrealistic to expect people to want to become advisers at 18.

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Are you with the top 10 super fund of 2022–23?

SuperRatings esssuper hostplus Australian retirement trust

A $34 billion fund has come out on top with a 13.3 per cent return in the last 12 months, beating out mega funds like Australian Retirement Trust and Aware Super.

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Internal compliance costs surpassing $1m annually for licensees

Holley Nethercote law compliance audit

Two-thirds of all licensees are paying over $1 million annually in internal compliance costs, including 13 per cent of those with less than 100 staff and representatives, according to Holley Nethercote.

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The sole business model to see positive growth

Wealth Data Colin Williams adviser numbers accounting

The financial planning-accounting business model is the only one to have seen growth in its adviser numbers since 1 July 2022, according to Wealth Data.

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MARKET INSIGHTS

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 weeks ago

This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...

1 month ago

Interesting. Would be good to know the details of the StrategyOne deal....

1 month 1 week ago

Insignia Financial has confirmed it is considering a preliminary non-binding proposal received from a US private equity giant to acquire the firm. ...

1 week 5 days ago

Six of the seven listed financial advice licensees have reported positive share price growth in 2024, with AMP and Insignia successfully reversing earlier losses. ...

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Specialist wealth platform provider Mason Stevens has become the latest target of an acquisition as it enters a binding agreement with a leading Sydney-based private equi...

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