Industry Updates

FAAA sees 9500 member renewals

The Financial Advice Association has received 9525 membership renewals which includes 8093 practitioners.

SuperConcepts & EQT enter into service agreement

SMSF administration provider SuperConcepts has entered into an enterprise service agreement with Equity Trustees to continue servicing the administration needs of its Australian Executor Trustees platforms business.

Treasurer appoints three new ASIC commissioners

ASIC has appointed Choice CEO Alak Kirland, Treasury first assistant Katherine O’Rourke, and Commonwealth Bank’s Simone Constant as commissioners.

IMAP announces 2023 managed account award winners

The Institute of Managed Account Professionals has announced the winners of the 2023 IMAP Managed Account Awards across nine categories.

FAAA statement on ASIC’s performance to Senate inquiry

Following is a statement made by the Financial Advice Association to the Senate Economics References Committee on 23 August about ASIC’s performance by FAAA chief executive Sarah Abood and three better ways it can achieve its goals.

SCA updates retirement savings guidance

Consumer advocate Super Consumers Australia has updated its home-owner retirement savings targets to reflect changes in the cost of living and the Age Pension.

MetLife launches 2023 plan for reconciliation

MetLife Australia has launched its 2023 Reflect Reconciliation Action Plan (RAP) as part of its commitment to reconciliate with First Nations peoples.

Bravura appoints global head of product

Financial services software company Bravura Solutions has appointed Greg Johnson as global head of product as it continues to transition to a product-centric organisation. 

Nominations open for inaugural FAAA awards

The Financial Advice Association has launched its inaugural FAAA Awards program, designed to recognise members who deliver the highest standards of professional and trusted advice to Australian consumers, and those who are going above and beyond to support their local communities.

Over 250k Rest members get more super from $450 threshold change

Profit-for-member fund Rest has estimated that up to 260,000 of its members are now receiving their full super entitlements due to the removal of the monthly income threshold of $450 on 1 July 2022.

AMP agrees to $110m settlement in shareholder class action

AMP has agreed to settle the shareholder class action brought after the Hayne royal commission in 2018 for $110 million.

CFS strengthens investment team

Colonial First State has appointed John Iles and Al Clark as head of cash management and derivatives, and head of investments, respectively.

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