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Exclusive Subscriber Offer - AFR Super & Wealth Summit
AFR subscribers receive a 20% discount on in-person and virtual tickets to this inaugural event on November 22, 2021.
ASIC, consumer groups back efforts to simplify financial advice
The corporate regulator and consumer advocates support making financial advice less complex to provide and receive, amid growing alarm about a cost crisis.
- Aleks Vickovich
Four radical ideas to fix the broken wealth advice model
Industry, regulators and consumer groups agree that the skyrocketing cost of financial advice is not in the national interest, but are split on the many and varied solutions.
- Aleks Vickovich
Crypto a ‘stable store of value’: Rest Super
The $66b industry super fund will deploy a small portion of the money it manages on behalf of mostly Millennial and Gen Z retail workers to cryptocurrencies.
- Updated
- Aleks Vickovich and Jonathan Shapiro
- Opinion
- Super wars
Why it will be harder to afford quality financial advice
A ham-fisted regulatory response has left average Australians struggling to pay for financial planning. Industry players warn the problem will get worse.
- Karen Maley
November 2021
The financial advice solution that cuts out advisers
Researchers are creating tools that could offer Australians automated recommendations for their pension and retirement plans – potentially upending the sector.
- Aleks Vickovich
How Millennial investors defied the stereotype
At least 200,000 Australians under 40 traded securities for the first time last year, surprising fund managers and spooking global financial markets.
- Opinion
- Superannuation
A retirement algorithm could solve the nastiest problem in finance
A standardised web-based tool can make financial advice affordable and inform retirees about the retirement income products needed to make their super savings last a lifetime.
- Pamela Hanrahan and David Bell
- Opinion
- Super wars
ASIC’s Longo holds blowtorch to super trustees
The regulator’s new boss, Joe Longo, has reminded super fund trustees their gig isn’t a sinecure, but they have a legal obligation to deliver for fund members.
- Karen Maley
ASIC’s warning to crypto investors: you’re on your own
ASIC chairman Joe Longo has urged investors to be careful about investing in crypto assets, admitting the regulator is virtually powerless to intervene and consumers are “on their own”.
- John Kehoe and Michael Read
- Opinion
- The AFR View
Super system needs affordable financial advice
The paradox of Australia’s superannuation system is that regulatory overreach is getting in the way of everyday Australians seeking financial advice to help maximise retirement incomes.
- The AFR View
Wealth advice model is ‘broken’
Wealth managers and the corporate cop have warned over-regulation has blocked ordinary Australians from getting advice.
- Aleks Vickovich
ASIC’s Longo ready to pick his fights (except on crypto)
The new ASIC boss conceded he has no regulatory oversight of crypto assets, in large part because they cannot be classed as financial products.
- Updated
- James Thomson
Zoom, digital signatures key to financial advice future
Wealth management experts say the advice sector is crying out for innovation to lower costs and increase access.
- Updated
- Jonathan Shapiro
Alexis George seeks a cultural reset as she takes on battered AMP
Turning around the beleaguered company is one of the toughest jobs in Australian business, but her heart didn’t skip a beat when she was asked to be its CEO.
- Sally Patten and Aleks Vickovich
Vanguard ‘confident’ its super fund will be a winner
The financial services giant is laying the groundwork for a multi-year advertising campaign to snag market share from the industry’s leading players.
- Michael Read
AMP’s Alexis George on the value of good advice
It’s the difference between a great retirement and an okay retirement, but the wealth industry hasn’t got it right yet, according to the company’s new CEO.
- Updated
- Opinion
- Opinion
Why Millennials have turned to shares and cryptocurrencies
Financial advisers are struggling to meet new investor demands via outdated and expensive business models while consumers increasing turn to a DIY model.
- Jennifer Hewett
Rate rises threaten ‘remarkable’ period of super returns
Rising interest rates are set to disrupt the success of Australia’s superannuation system, according to Deloitte Access Economics.
- Michael Roddan and John Kehoe
Soaring property prices force young savers into shares
Soaring property prices are helping to fuel the boom in share investing as Millennials and Generation Z seek to accumulate a deposit for a house.
- Sally Patten
- Opinion
- Chanticleer
AMP, IOOF can’t answer wealth’s biggest question
How to make financial advice more affordable in a post-Hayne world is a question AMP, IOOF and the broader wealth sector is yet to solve.
- Updated
- James Thomson
Banks’ wealth exit the right call: AMP CEO
AMP chief executive Alexis George has broken with her predecessors, backing the withdrawal of the major banks from superannuation and financial advice.
- Aleks Vickovich
Hume threatens laws to stop bailouts using members’ money
Financial Services Minister Jane Hume threatened new laws to stop superannuation funds from using members’ money to bail out badly behaving directors.
- Michael Read
Vaccine mandates should be up to businesses: PM
Scott Morrison says mandatory vaccines of certain workforces had been based on medical advice, but individual businesses should decide whether to serve unvaccinated customers; ASIC won’t be a ‘cheerleader’ for cryptocurrencies. Read to see how today unfolded.
- Updated
- Natasha Gillezeau
- Exclusive
- Bitcoin
Crypto no fad, Hume tells RBA
Australia risks being left behind if governments and regulators are too fearful of new technologies, says Financial Services Minister Senator Jane Hume.
- Updated
- Ronald Mizen
