$2.3b impairment bill sours AMP result AMP Capital was a major bright spot for AMP as the company confirmed the exit of 440 advisers, an impairment bill of $2.35 billion and challenging times ahead when reporting its full-year results today. For more.

Deducting advice fees from member accounts gets thumbs-up The deduction of financial advice from member’s superannuation accounts is reasonable, according to actuarial research house, Rice Warner. For more.

Annual renewals will generate up to 6 hours’ extra work Financial advisers are facing significant extra hours of work to transition clients across to annual renewals. For more.

Tech still king in North America The North American equities sector was the second best performing in 2019, but which funds took the lead? For more.

Universal Age Pension will incentivise Aussies to save Mercer has called for a universal Age Pension as it would create a simpler, more efficient super system with reduced administration costs. For more.

CFS urges fix for 15-year-old super choice failing The former Howard Government never went far enough on superannuation choice in 2005 and the Government should not baulk at addressing the problem this year, according to Colonial First State. For more.

Court finds former adviser unfit for trial Former financial adviser, Daniel McSweeny, has been found unfit to stand trial for dishonest use of his position as a director. For more.

Super funds receive ASIC rap over PYSP comms Superannuation funds have been identified as having fallen short in the manner in which they communicated the implications of the Government’s Protecting Your Superannuation Package to members. For more.

Efficiency needed for super system The complexity of the superannuation system is a barrier to modernising legacy products, according to the Financial Services Council. For more.

New laws to ease fintech testing Fintechs will now have a regulatory sandbox that will allow them to test new products and services for 24 months without obtaining a financial services or credit licence. For more.

The future of super contribution strategies David Barrett outlines what advisers need to consider to ensure their clients get the most out of their superannuation contributions going forward. For more.