How ASIC told super funds to handle adviser commissions The Australian Securities and Investments Commission has confirmed how it placed conditions on superannuation funds which had the effect of ending the payment of commissions without the clients being required to communicate the fact to their advisers. For more.

Govt risks driving advisers out says FPA Rising costs associated with greater regulation and Government fees and charges risk driving financial planners out of business and placing advice beyond the reach of consumers, according to the Financial Planning Association. For more.

Synchron’s Trapnell ‘steps back’ The man who has been the face of risk-focused Synchron, Don Trapnell, says he is stepping back from the day to day running of the business. For more.

Who should pay for the new compensation scheme? It would be reasonable to have all Australian Financial Complaints Authority members pay for and be covered by the new scheme, according to a law firm. For more.

$1.55b a year in cancer life insurance claims Breast cancer was the most common life insurance cancer claim, double the rate of prostate cancer which was the second most common, according to data. For more.

Global robo-advice industry to be worth US$1.4t The robo-advice industry has jumped 47% on a yearly basis and assets managed by robo-advisers is expected to hit $2.5 trillion by 2023, according to research from UK company LearnBonds. For more.

Charter Hall appoints new fund manager Charter Hall has announced the appointment of Miriam Patterson from Telstra Super to the newly created position of fund manager, Charter Hall Direct. For more.

Australian retirees use home equity for retirement funding Australians should be more incentivised to be able to use their home equity in order to improve their retirement funding as the current system does not support their retirement funding effectively, according to the Retirement Income Review. For more.

Singaporean manager enters into control over AU Office Fund Singapore-based Keppel Capital has entered into control over the Australian Unity Office Fund after buying a half stake in its responsible entity, AUIREL. For more.

ASIC bans Qld adviser and cancels Smart Solutions licensee Financial adviser Timothy Shapter has been banned for seven years for failing best interests duty and his licensee Smart Solutions has had its licence cancelled. For more.

Getting the right recipe for managed accounts success Not all managed accounts are created equal and it is up to advisers to ensure their clients get the right solution for their needs, writes Vanguard’s Balaji Gopal. For more.