If super funds are to provide advice, they are encouraged to form agreements with external financial planning firms to expand their footprint beyond the major CBDs, according to Wealth Data.

Comprising both small and mega super funds, these 10 growth funds have managed to deliver returns over 7.5 per cent per annum consistently for the last decade, according to Chant West.

The Labor government has hit back at the Senate Economics Reference Committee’s request for evidence from ASIC as it is an independent regulator and suggested it provide the documents privately instead.

AMP has announced a new executive structure for platforms and advice and is actively recruiting a group executive for superannuation and investment.

ASIC has been accused of treating parliament with contempt after failing to follow Senate orders to submit evidence to the Senate Economics Reference Committee.

Financial advice licensees account for two-thirds of firms which have implemented remediation in the past 12 months, according to research.

From greenwashing allegations and interim stop orders to fines and penalties, Money Management has rounded up all the disciplinary actions faced by firms in the first half of 2023.

Super funds are demonstrating gaps in their member data, according to a joint APRA/ASIC review, as they are concerned collecting too much information could put them at risk of providing personal financial advice.

ASIC has issued its first interim stop order on two life insurance products from ClearView Life for DDO failures.