Professional Planner

The government’s Delivering Better Financial Outcomes reforms, Insignia’s leadership transition – and the end of the era for institutional ownership of advice licensees – the Compensation Scheme of Last Resort, and troubles with industry fund Cbus dominated the most popular stories published by Professional Planner this year. #financialservices #financialadvisers #financialplanning

Industry super funds are actively “scenario planning” a royal commission into the powerful $1.4 trillion sector as regulatory and parliamentary scrutiny intensifies. They should heed the lessons learned by their retail fund peers that they would be better off embracing transparency than attempting to stave off the inevitable. #financialservices #financialplanning #superannuation

Treasury has been handed a swift rebuke to expanding the Your Future Your Super performance test into retirement, with representatives across advice and superannuation arguing it will be rife with unintended consequences and isn’t as simple as measuring accumulation. The Conexus Institute Financial Advice Association Australia (FAAA) Financial Services Council HESTA Vanguard AustralianSuper Cbus Super Fund David Bell Mary Delahunty Sarah Abood #retirement #superannuation #retirementperformance #yfys #financialadvisers #financialplanning #financialservices

Financial Advice Matters has fallen short of an EBIT target that will see it miss 20 per cent of the $10 million acquisition agreement it signed with Centrepoint a year ago. The arrangement highlights the potential risks for advice practices considering incentive-laden M&A deals. Centrepoint Alliance Steven Fine #mergersandacquisitions #EBIT #financialadvisers #financialplanning #financialservices

The “but for” methodology used by the Australian Financial Complaints Authority has come under recent criticism despite being used by its predecessor and endorsed by the court. Simon Hoyle writes that with the Compensation Scheme of Last Resort now involved, the test may no longer be an appropriate mechanism. Shail Singh #faaa #cslr #dixonadvisory #opinion #financialadvisers #financialplanning #financialservices

The Australian Financial Complaints Authority has come under fire for its contentious ‘but for’ methodology, but the external dispute resolution has fought back arguing the process is sound. This method of remediation isn’t available for every client who has suffered financial loss – it needs to be contingent on a breach of the best interest duty. Shail Singh #afca #cslr #dixonadvisory #faaa #butfor #regulation #complaints #financialadvisers #financialplanning #financialservices

For Emanuel Whybourne & Loehr managing partner Craig Emanuel, any client meeting is an opportunity to listen, rather than to talk. He likens it to a chess match, where you don’t know what’s needed until the other player makes their move. #ewl #cfs #advice #shapeofadvice #financialadvisers #financialplanning #financialservices

The Financial Advice Association Australia (FAAA) has questioned why an intercompany loan owed by Sequoia to Libertas has disappeared, which could have led to $1 million potentially being used to cover disputes directed towards the Compensation Scheme of Last Resort. #cslr #libertas #faaa #sequoia #financialadvisers #financialplanning #financialservices

The stigma surrounding mental health has subsided dramatically in the past 20 years, but how society – including our workplaces – continues to adapt to mental health acceptance still has a way to go. #mentalhealth #timhewson #johnbrogden #lifeline #mongrelsmen #researcherforum #financialadvisers #financialplanning #financialservices

Ownership of the surviving wealth institutions may be set for another shake-up as big global investors circle Insignia Financial and Colonial First State. But it remains to be seen whether Wall Street buyers have paid sufficient attention to how these assets became stranded in the first place and if they could resist the temptation of vertical integration. #analysis #opinion #assetconsultants #financialadvisers #financialplanning #financialservices