vertical integration

Life/Risk

Will vertical integration make a comeback?

With risk advisers leaving in droves DEXX&R believes there is opportunity for life insurers to set up their own dealer groups as long as they have an open approved produc...

Financial planning

Do advisers exiting vertical integration struggle on best interests?

Understanding the full implications of the code of ethics and its implementation as well as the best interests duty might be bothering some advisers....

Financial planning

Super funds heavily reliant on general advice

The Australian Securities and Investments Commission has confirmed the reliance of superannuation funds on general advice and the regulator’s concerns about vertical inte...

Financial planning

Vertical integration still problematic for advice

Recent media coverage of problems associated with products promoted by vertically-integrated financial services businesses have served to confirm the law is still falling...

Policy & Regulation

Last report by Parliamentary Committee backs continuing vertical integration

Even though the Federal Election had already been called, the Senate Economics Legislation Committee has vetoed a One Nation bill which would have ended financial service...

Financial planning

Planning/accounting convergence predicted in post-RC world

A new whitepaper has predicted a further important convergence between accounting and planning as the exit of the banks and the impacts of the Financial Adviser Standards...

Policy & Regulation

ASIC spotlights industry fund vertical integration

The Australian Securities and Investments Commission has broken new ground by imposing a penalty on HostPlus based on the commercial links and consequent service agreemen...

Policy & Regulation

Banks defend vertical integration

The Australian Banking Association has defended vertical integration and the ability of the major banks to self-regulate when it comes to ‘simplifying’ such structures....

Features

How the banks keep the sweetest morsels

Two of the major banks may have exited their wealth businesses and two more may be on their way out, but Mike Taylor writes that they have astutely kept the sweetest mors...

Policy & Regulation

RC missed mark on vertical integration says Fels

Former Australian Competition and Consumer Commission chairman, Professor Alan Fels has criticised the Royal Commission for failing to address the problems of bank vertic...

Financial planning

AMP punishes past executives, defends vertical integration

AMP Limited has defended its vertically integrated structure in the face of Royal Commission criticism while confirming it has punished past executives with forfeiture of...

Financial planning

Future bright for established planners says white paper

Established and well-respected advice firms have little to fear from the Royal Commission, according to a new white paper from ClearView....

Superannuation

Who drove AMP’s super fee cut?

The Royal Commission has heard that the time-table attaching to the AMP superannuation fund boards’ decision to cut MySuper fees by 50 basis points was devised elsewhere ...

Financial planning

Don’t waste a good crisis: CFA

While the Banking Royal Commission may have sent financial services industry members running for shelter, CFA Society President, Paul Smith, said a good crisis shouldn’t ...

Policy & Regulation

Bank divestments will increase competition says ASIC

The Australian Securities and Investments Commission has forecast a ‘new competitive dynamic’ in the wake of the banks divesting their insurance and wealth management bus...