FAAA recommends sunset clause in experience pathway

experience-pathway/FPA/AFA/

| By Jasmine Siljic |

The Financial Advice Association Australia has recommended a 10-year sunset clause in the experience pathway to support older advisers, as it reveals its membership is equally divided on the pathway in its current state.

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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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QAR an ‘inflection point’ in the advice industry: Insignia

insignia-financial/quality-of-advice-review/renato-mota/

| By Rhea Nath |

Financial planning

The devil is in the details with Michelle Levy’s recommendations, according to Insignia CEO Renato Mota, who sees the review as a fantastic opportunity for meaningful structural change - if implemented correctly.

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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abrdn chief economist to return to RBA

abrdn/RBA/

| By Rhea Nath |

People & Products

Jeremy Lawson, chief economist and head of the abrdn Research Institute, will join the international department of the Reserve Bank of Australia as deputy head, effective August 2023.

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Rhea Nath

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ESG teams see salary bump after internalisation push

ESG/recruitment/salary/staff/

| By Laura Dew |

People & Products

A supply/demand problem in the recruitment of ESG professionals as firms hire more in-house staff is leading salaries for the highest-paid ESG heads to reach $400,000.

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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Count shareholders back name change as firm commits to advice

Countplus/Hugh-Humphrey/

| By Rhea Nath |

People & Products

An overwhelming 99.94 per cent of shareholder votes have been cast in favour of a successful name change to Count Limited, signalling a “dynamic new phase” for the firm.

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Rhea Nath

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Insignia advisers dwindle as micro-AFSLs grow

insignia-financial/IOOF/Wealth-Data/AFSL/

| By Jasmine Siljic |

Financial planning

The number of Insignia advisers has fallen to nearly 1,000, with the advice firm losing 72 advisers to micro-AFSLs over the years.

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Jasmine Siljic

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GBST acquires fintech solution WealthConnect

GBST/financial-planning-software/fintech/

| By Jasmine Siljic |

People & Products

The financial software provider has announced its acquisition of WealthConnect, a digital advice practice management and CRM system.

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Jasmine Siljic

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Iress unveils improved remuneration structure following shareholder criticism

iress/remuneration/Marcus-Price/fintech/

| By Laura Dew |

People & Products

Iress has outlined how it will move to a performance-based remuneration model following feedback that its previous structure was not aligned with shareholder returns.

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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Purposeful planning key to retirement confidence: Vanguard

vanguard/retirement/financial-advice/

| By Jasmine Siljic |

Financial planning

Vanguard research has revealed that Australians who seek advice and have a clear retirement plan have the highest levels of confidence about their future.

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Jasmine Siljic

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SIAA calls for prompt enactment of experience pathway

siaa/Stephen-Jones/experience-pathway/

| By Laura Dew |

Financial planning

The Stockbrokers and Investment Advisers Association has thrown its support behind the experience pathway, arguing its members would rather quit than study for unnecessary financial planning qualifications.

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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