Are life insurance advisers at risk of extinction?

APRA/life-insurance/Adviser-Ratings/risk-advisers/

| By Jasmine Siljic |

Less than 1 per cent of total advisers are ‘pure risk’ advisers as commission changes and premium increases drive them out of the profession or into new advice careers, says Adviser Ratings.

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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Prime Financial eyes acquisitions as it seeks revenue growth

prime-financial-group/simon-madder/M&A/

| By Laura Dew |

People & Products

Prime Financial is seeking to double its revenue growth by 2025 thanks to a five-year business re-organisation which is now reaping rewards as it sets its sight on multiple acquisitions.

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 issues four interim stop orders against Spaceship Capital

ASIC/spaceship/spaceship-voyager/

| By Laura Dew |

People & Products

ASIC has made its first interim stop order on a superannuation product as well as on three managed funds, all run by Spaceship Capital.

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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Advisers ceasing at twice the rate of new entrants

adviser-numbers/Colin-Williams/Wealth-Data/

| By Laura Dew |

Financial planning

The number of advisers who have ceased during 2023 is at 365, more than double the new entrants over the same period, and could approach 900 by the end of the year if the current rate continues.

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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Judge warns financial firms on technology interoperability

amp/amp-financial-planning/federal-court/

| By Laura Dew |

Funds management

Justice Lisa Hespe has fired a shot across the bows at financial institutions regarding the interoperability of their IT infrastructure in her verdict in the ASIC v AMP Financial Planning case.

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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Train up ChatGPT like a staff member: Morgan Stanley

artificial-intelligence/chatgpt/Morgan-Stanley/siaa/

| By Laura Dew |

Financial planning

Firms introducing artificial intelligence to their businesses should treat it like a new member of staff to train up on the firm’s ethics and values, according to Morgan Stanley.

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 extends financial adviser registration date

ASIC/adviser-registration/

| By Laura Dew |

Financial planning

ASIC has extended the deadline for registration of financial advisers and shared when it expects the portal to open.

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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Does ASIC run the risk of regulatory overreach?

ASIC/DDOs/regulation/

| By Rhea Nath |

Funds management

With ASIC playing a role in interpreting the law through materials like regulatory guides and in part enforcing the law through stop orders, a panel has questioned if the regulator could occasionally toe the line of overreach.

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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Kenneth Hayne on the conflict of interest problem in advice

Kenneth-Hayne/Hayne-Royal-commission/quality-of-advice-review/

| By Laura Dew |

Financial planning

In a rare speech, former High Court justice, the Honourable Kenneth Hayne, has questioned whether advisers can ‘stand in more than one canoe’, when it comes to conflict of interest between client and product 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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Lazard financial advisory head appointed new CEO

Lazard/financial-advice/CEOs/

| By Rhea Nath |

People & Products

Peter Orszag, chief executive of financial advisory since 2019, has been named CEO of Lazard, effective 1 October 2023.

AUTHOR

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Are life insurance advisers at risk of extinction?

AUTHOR

Jasmine Siljic

Jasmine 's social profiles:

Prime Financial eyes acquisitions as it seeks revenue growth

AUTHOR

Laura Dew

Laura 's social profiles:

ASIC issues four interim stop orders against Spaceship Capital

AUTHOR

Laura Dew

Laura 's social profiles:

Advisers ceasing at twice the rate of new entrants

AUTHOR

Laura Dew

Laura 's social profiles:

Judge warns financial firms on technology interoperability

AUTHOR

Laura Dew

Laura 's social profiles:

Train up ChatGPT like a staff member: Morgan Stanley

AUTHOR

Laura Dew

Laura 's social profiles:

ASIC extends financial adviser registration date

AUTHOR

Laura Dew

Laura 's social profiles:

Does ASIC run the risk of regulatory overreach?

AUTHOR

Rhea Nath

Rhea 's social profiles:

Kenneth Hayne on the conflict of interest problem in advice

AUTHOR

Laura Dew

Laura 's social profiles:

Lazard financial advisory head appointed new CEO

AUTHOR

Rhea Nath

Rhea 's social profiles:

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