MM Newsletter
  17 December, 2021
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Money Management Original
Adviser losses disappointing but not unexpected
The financial advice industry is finishing the year with a loss of 2,189 advisers, however the worst is yet to come, according to Wealth Data.
Money Management Original
Associations welcome Govt education relief
While the change may be a disappointment for advisers who have already committed to complete additional study, it is important the changes do not undermine the recognition of financial advice as a profession, the Association of Financial Advisers believes.
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Money Management Original
ASIC’s intervention pace on Sterling was ‘reasonable’
The corporate regulator’s chair has argued that while it could have acted more quickly and could have published a media release more energetically on the Sterling case, it still acted reasonably.
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Happy holidays from Money Management
Happy holidays from the Money Management team. This is the final Money Management newsletter for 2021.
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Industry News
Super heatmaps emphasise need for financial advice
Despite questions being raised about the appropriateness and accuracy of the prudential regulator’s heatmaps, they do underscore the importance of advice, the Financial Services Council believes.
Industry News
Consultation opens on Quality of Advice terms of reference
The Government has opened consultation on its draft terms of reference for next year’s Quality of Advice Review.
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Advisers taking on ‘emotional’ role
Financial advisers are no longer just discussing financial issues with clients and more and more are covering clients’ personal and family problems.
Industry News
Fintech firm aims to bridge advice affordability gap
Fintech firm, Fiduciary, has partnered with digital investment platform provider, OpenInvest, to help bridge the growing advice affordability gap which currently exists in Australia.
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Money Management Original
The value opportunity in Facebook
With headwinds emerging and business growth expected to slow in the future, Facebook is now a value stock, according to Antipodes.
Industry News
T. Rowe Price launches Australian unit trust and SMA
T. Rowe Price have launched an actively-managed global equity trust and separately managed account to provide advisers with a sector-diversified portfolio of 30 to 45 high-conviction investments.
Industry News
Govt proposes ‘experience pathway’ for advisers without degrees
The pathway will allow financial advisers who have 10 or more years of full-time experience in the last 12 years to only complete a tertiary level unit on the code of ethics to continue providing financial advice after 1 January, 2026.
Industry News
60% of Choice funds deliver below APRA heatmap benchmark
The prudential regulator has published its annual MySuper heatmap along with the first Choice heatmap.
Industry News
Former ANZ AR convicted
Former authorised representative of ANZ-owned Millenium3, Melinda Scott, has been convicted of managing a corporation whilst being disqualified from providing financial services for 25 years.
Industry News
Diverger’s Paragem partners with The Wealth Network
Diverger, formally known as Easton Investments, has partnered its Paragem network with The Wealth Network to help advice practices grow in an environment of declining adviser numbers.
Industry News
Court freezes assets of unregistered MIS
The corporate regulator has obtained interim orders from the Federal Court to freeze the assets of Ascent Investment and Coaching, as funds may have been raised and used improperly.
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