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Advisers, banks winning back consumer trust: ASX report

The public appears to be rewarding efforts to reshape the financial advice and banking industries after the royal commission, with advisers and the banks both...

New generative AI is a boon for fundamental fund managers: Kollo

ChatGPT presents an inflection point in the quantitative investment journey, writes Michael Kollo, one that doesn't need the presence of machine learning...

SOAs, safe harbour steps gone as government takes staged approach to advice reform

Financial services minister Stephen Jones has accepted 14 of Michelle Levy's 22 recommendations to increase advice access, with super funds set to play an...

FSC, product providers bemoan lack of support from ASIC on innovation

On what was set up as a discussion around the proposals put forward by the Quality of Advice Review, the topic repeatedly shifted to the frustration providers...

This time it's different: Scaling up the advice, not the distribution channels

Product distribution is still embedded in advice, but with banks out of the game expansive product flogging programs are no longer ubiquitous. Businesses are...

Sophisticated investor test draws scrutiny in financial services inquiry

The test allows investors who can certify that they earn $250,000 a year or have more than $2.5 million in net assets to access higher-risk securities normally...

'Some poor operators out there': ASIC urged to scrutinise multi-strategy SMAs

Multi-strategy separately managed accounts (SMAs) are "taking off like you wouldn't believe", according to SQM Research CEO Louis Christopher, but the rapid...

AFCA's scope within super grows as Treasury tweaks complaints body's mandate

The proposal seeks to preserve this definition of what a superannuation complaint is, but "clarifies the policy intent that other types of...

More modes of advice being sought by HNWs as validators come to the fore: Praemium

Investment platform provider Praemium explains that while there is an "increasingly positive" attitude towards financial advice, the needs of HNW investors are...

AMP firms fined $24 million for charging dead clients' super accounts

Four AMP Group businesses deducted insurance premiums and advice fees from superannuation customers despite knowing they had died, a judge ruled, with two of...

Adviser numbers swell as Professional Year candidates come through

"The worst case scenario is that things have definitely stabilised," Wealth Data's Colin Williams tells The Inside Adviser. "Best case scenario is that we're...

Divisive experience pathway proposal plan 'upset' FAAA members: Abood

"There's so much pain, so much division on this one," FAAA CEO Sarah Abood said of the proposed exemption. "It actually really upsets me, as I know it upsets...

'Experienced' and 'Relevant' provider tags will only confuse consumers: FAAA

Consumers will be bamboozled by the government's plan to divide advisers into "experienced" and "relevant" camps, the association explained. That, and the need...

DDO deficiencies 'across the board' for product issuers: ASIC

The regulator has issued 26 stop orders against 18 companies for failing to adequately target financial products to the appropriate market since the "design...