Phil Anderson

Phil Anderson, FAAA’s general manager, policy advocacy and standards, will be retiring on 27 November 2026 after over 30 years in the financial services industry, and much of the last twenty years dedicated to the financial advice profession.

Sarah Abood, chief executive officer of FAAA, thanked Phil Anderson for his dedication and service to the profession.

“Phil has made an outstanding contribution to the FAAA and to the financial advice profession that we serve. He has been absolutely tireless in shaping numerous important policy and standards outcomes, and building strong stakeholder relationships across government, media, and peak bodies as well as the broader profession.

“His leadership as CEO of the AFA was a key element in the successful merger of the AFA and FPA to create the FAAA. In his combined 13 years of service across both organisations, he has made a lasting positive impact for members.

“Phil has been a determined advocate for the financial advice profession for over 20 years, with senior roles in AMP, NAB, CFS, Netwealth and the AFA before the FAAA. In all that time he has consistently promoted the value of financial advice and has been a fierce supporter of financial advisers and planners and the important work they do for their clients.

“On behalf of the Board, Executive Team and staff, we thank Phil and wish him an extremely well-deserved relaxing time in retirement.”

Anderson said: “It has been a privilege to work alongside colleagues, members and stakeholders who are passionate about advancing the profession.

“Whilst we have faced a series of challenges along the way, from the FoFA reforms in 2011-12 through to the substantial announcements by the Minister last week, I am proud of what we have achieved together and look forward to following the FAAA’s ongoing success.

“Although I will be stepping back from full time work, I am intent on continuing to contribute to the advice profession and ensure that it continues to prosper.”

Anderson will retire at the conclusion of the FAAA Congress in November.

A recruitment process is underway for the role.

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Recent data illustrates the scale of that shift. The State Street/Investment Trends 2026 Managed Accounts Report, based on a survey of more than 1,000 Australian financial advisers, found 60% of advisers now utilise managed accounts, with 73% of them using Separately Managed Accounts (SMAs) as a core portfolio allocation. The latest Managed Accounts FUM Census, published by the Institute of Managed Account Professionals (IMAP) in conjunction with Milliman, reported the Australian managed accounts market exceeded $292.9 billion in funds under management as of 31 December 2025, with SMAs continuing to represent the largest and fastest-growing segment.

Early adoption of managed accounts was largely driven by operational efficiencies, including centralised portfolio management, improved implementation consistency and time savings for advisers. As the market has matured, attention has shifted towards the governance, portfolio construction, implementation and transparency underpinning long-term investor outcomes, alongside a broader range of investment solutions spanning active and passive strategies, retirement-focused portfolios and increasingly sophisticated multi-asset approaches.

Regulatory attention has intensified in step with the sector’s growth. In an October 2025 address, ASIC Commissioner Alan Kirkland said managed accounts are playing an increasing role in Australia’s investment landscape, and confirmed that ASIC’s 2025-26 Corporate Plan has identified managed accounts as a priority area for surveillance, with particular focus on how licensees manage general obligations, identify and manage conflicts of interest, and ensure products continue to deliver appropriate client outcomes.

For advisers, this is occurring alongside an evolving advice framework in which the Best Interests Duty remains central to product selection. External research provides an important input into due diligence, but does not replace an adviser’s obligation to understand the products they recommend and satisfy themselves those recommendations remain appropriate for their clients’ objectives and circumstances.

As managed accounts have matured, so too has the nature of adviser due diligence, moving beyond questions of historical performance, asset allocation and fees towards how investment decisions are governed, how portfolios are implemented, and whether processes are sufficiently transparent to support consistent client outcomes.

Read the full insight.

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Sammy Suzuki

AllianceBernstein (AB) has announced the launch of the AB Emerging Markets Strategic Core Equities Fund – Active ETF (CXA: MORE), providing Australian investors with exchange-traded access to AB’s Emerging Markets Strategic Core strategy. The listing marks the latest step in the continued build-out of AB’s active ETF platform in Australia.

The ETF is built on AB’s established Strategic Core framework, first launched in 2012 and managed since inception by Sammy Suzuki, Head of Emerging Markets Equities, alongside Co-Chief Investment Officer Denise Boynton. Together they bring more than five decades of emerging markets investment experience. The strategy seeks to provide core exposure to the long-term growth potential of emerging-markets equities while aiming to capture around 90% of market upside and roughly 70% of the downside over the long term.

Managing Director of the Australian Client Group, Ben Moore, said the listing reflected AB’s commitment to broadening access to its global capabilities for local investors.  “The build-out of our active ETF platform remains a key plank in our Australian distribution strategy. Following the listing of our Global Strategic Core Equities ETF earlier this year, adding an emerging-markets strategy gives investors another high-quality, actively managed building block in a convenient, transparent and liquid vehicle,” Mr Moore said.

“Emerging markets represent one of the most compelling long-term growth opportunities available today, yet many investors remain underallocated because of concerns around volatility and drawdowns. This strategy has been designed to address exactly that challenge,  pairing a proven lower volatility investment framework that protects the downside while providing the potential for long term capital growth with the accessibility of an ETF,” he said.

Sammy Suzuki, Head of Emerging Markets Equities, said the opportunity in emerging markets had evolved well beyond the perceptions many investors still hold. “Emerging markets are no longer simply a China story. Emerging economies now drive the majority of global GDP expansion, and that growth is often available at a meaningful valuation discount, supported by stronger balance sheets, deeper capital markets and improved governance. EM is also a key part of the AI opportunity, a theme too often viewed through a developed-market lens alone.”

AB believes this backdrop, combined with its downside-aware approach, makes the strategy a timely addition for investors building diversified, long-term portfolios.

“Our philosophy is built on Quality, Stability and Price. By combining fundamental research with quantitative risk management,  an approach we call ‘quantamental’, we aim to own high-quality, stable companies at a sensible price. That is how we seek to beat the market by losing less, giving investors a smoother path to participate in emerging-markets growth over the long run.  We call this winning by not losing,” said Mr Suzuki.

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Charles Story

Australian equities investment manager, WaveStone Capital, has strengthened its team with the appointment of Charles Story as Director and Portfolio Manager.

Story brings more than two decades of industry experience, including over 14 years as a Portfolio Manager with Solaris Capital, where his responsibilities spanned the long-only, longshort, and income strategies. Prior to this, he was employed with Goldman Sachs, gaining experience in their London, Singapore, and Tokyo offices.

Commenting on the appointment, WaveStone Director and Portfolio Manager, Raaz Bhuyan, said he was excited to welcome someone of Story’s calibre and expertise to the WaveStone team.

“Our goal is to attract the right talent who can grow with us and deliver on our commitment to active investing that achieves competitive, long-term performance for our clients,” Mr Bhuyan said.

“Charles embodies these attributes, with a skillset that complements our existing team. He has more than 20 years of experience in Australian equities and risk management, with proven expertise in managing both long and long/short strategies.

“Charles adds to the depth and breadth of our investment team and understands the collaborative culture of a boutique investment firm.”

Story commenced in role earlier this month, relocating from Brisbane for the appointment.

Commenting on his appointment, Story said: “WaveStone’s values and approach align closely with my own. I am excited to be joining a cycle-tested, boutique firm that is passionate about delivering for its clients.”

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Damien Mu

Leading life, health and wellbeing insurer AIA Australia has announced a new Premier Partnership with Beyond Blue, amplifying its long‑term commitment to improve the mental health outcomes of Australians.

The partnership brings together AIA Australia’s leadership in the life and health insurance industries with Beyond Blue’s national reach and deep expertise on mental health.

With a shared focus on prevention and early intervention, Beyond Blue and AIA Australia will work together to address rising mental health challenges and reduce the number of Australians reaching crisis before seeking help.

To kick off the partnership, the organisations joined forces with the Melbourne Storm for its Mental Health Round, in an effort to encourage people to Tackle Tough Together.

Around 43 per cent of Australians have experienced a mental health condition in their lifetime, with anxiety and depression affecting millions of people across all life stages^[1]. Despite record levels of public and private investment in mental health care, prevalence continues to rise, reflecting a system that is geared towards acute and crisis care, rather than prevention and early support^[2].

AIA Australia has reported an exponential increase in mental health-related claims, with mental health claims rising from around 15% of all disability claims in 2014, to approximately 26% in 2025 – a figure that continues to increase in 2026.

Beyond Blue CEO Georgie Harman AO said, “Accessing support early for yourself or someone you care about can prevent problems escalating. But too many people aren’t able to get that early support, only getting help once they’re really distressed or in crisis – and sometimes struggling for up to 10 years. At the same time, too many Australians simply aren’t getting the support they need, with a system still geared towards responding to crisis rather than preventing it.

“Through this partnership with AIA Australia, Beyond Blue has an opportunity to reach people sooner, meeting them where they are – in workplaces, communities and everyday moments – with effective, practical services and tools before things escalate.”

AIA Australia CEO Damien Mu said he believed the partnership held huge potential to drive meaningful change. “At AIA Australia, our purpose is to make a difference in people’s lives. We’re pleased that this partnership with Beyond Blue will help us achieve our ambition to help Australians live healthier, longer and better lives.”

Under the partnership, AIA Australia and Beyond Blue will prioritise:

• Earlier intervention and prevention, including insights, tools and digital solutions that encourage people to seek help sooner
• Workplace mental health – supporting employers to address psychological risks and promote mentally healthier work environments
• Thought leadership and advocacy, including policy reform aimed at reducing systemic barriers to early mental health support
• Community reach and impact, leveraging Beyond Blue’s engagement with one in six Australians each year

Mr Mu said that both organisations were eager to start working closely together and change the narrative on mental health.

“As a life insurer, we unfortunately see people when their mental health has deteriorated to a point where they are unable to work. What’s currently described as ‘early intervention’ is often happening quite late in someone’s experience and after they’ve lodged a claim.

“We believe that there are many strong opportunities to change this. For example, employers could offer targeted mental health support in the workplace that can deliver real preventative impact.”

“As a nation, we have become trapped in a “sick‑care” cycle. By focusing more on early warning signs and underlying contributors, we can support people sooner and reduce the risk of their mental health deteriorating.”

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Ms Marler will lead the HR and Corporate Affairs functions across the bank’s Australian and New Zealand operations, joining the Region Australia, New Zealand Executive Team and reporting to Caroline Oosterbaan, CEO of Rabobank Australia and Regional Manager, Australia and New Zealand.

Announcing the appointment, Ms Oosterbaan said Ms Marler brought to the role “extensive People and Culture experience in complex, highly-regulated organisations, together with deep banking knowledge and a strong commitment to building high-performing, future-ready teams”.

“Kathryn’s blend of deep banking-sector expertise and large-scale transformation experience was central to her appointment. Operating within a global cooperative structure, Rabobank sought a leader able to continue to build a People and Culture strategy consistent with the Rabobank Group, while remaining genuinely responsive to the needs of the Australian and New Zealand business,” Ms Oosterbaan said.

Ms Marler joins Rabobank from Westpac Banking Corporation, where she held a number of senior leadership roles shaping enterprise-wide transformation and delivering People and Culture strategy.

Part of the global cooperative Rabobank Group, the world’s leading specialist food and agribusiness bank, Rabobank Australia & New Zealand is one of the region’s leading agricultural banks and a major provider of corporate and business banking services to the Australian and New Zealand food and agribusiness sectors. Rabobank also provides online retail savings and deposits in the Australian and New Zealand markets.

Ms Marler said she “is excited to join Rabobank at such an important time for the bank and the sector it serves”.

“Rabobank’s cooperative culture, and its deep, long-term commitment to Australian and New Zealand farmers and food producers, is something I’ve long admired. I’m looking forward to partnering with Caroline and the leadership team to build the workforce capability that will carry that mission forward,” she said.

Ms Marler commences in the role, subject to regulatory approval, on October 6.

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Katrina Shanks

The Australian and New Zealand Institute of Insurance and Finance (ANZIIF) has announced the launch of its new Industry Connect Series, a national event program designed to help insurance professionals stay informed on the code, regulatory and legislative developments shaping the sector in 2026 and beyond.

Delivered across five locations in October and November, Industry Connect will bring together professionals from across claims, broking, underwriting, risk, compliance, operations and customer service for a practical update on the key changes influencing the future of insurance.

The two-hour interactive sessions will combine expert-led industry intelligence with dedicated networking time, offering attendees an opportunity to strengthen their professional connections while gaining a clearer understanding of the issues likely to affect their roles, organisations and customers.

The program will feature updates on major industry code reviews currently underway across life insurance, insurance broking and general insurance, including a deeper discussion of the proposed General Insurance Code of Practice and the practical implications for insurers, brokers and insurance professionals.

ANZIIF is delighted to announce that Sparke Helmore Lawyers will join the event series to deliver a forward-looking update on the regulatory and legislative developments expected to influence insurance in 2026 and beyond, highlighting the emerging issues and reforms most relevant to today’s insurance professionals.

Katrina Shanks, CEO of ANZIIF said Industry Connect reflects ANZIIF’s role in supporting insurance professionals to navigate a period of continued change.

“Insurance professionals are operating in an increasingly complex environment, with code reviews, regulatory reform and legislative change creating new expectations for the sector. Industry Connect is designed to give professionals a clear, practical and timely understanding of the changes ahead, while also creating space for meaningful industry connection.”

Industry Connect Series dates:

• 8 October – Industry Connect VIC
• 15 October – Industry Connect NSW
• 27 October – Industry Connect QLD
• 29 October – Industry Connect WA
• 5 November-| Industry Connect SA

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Ben Arnold joins JPMAM as Equity Investment Specialist based in Sydney. Ben brings deep global equities and client-facing experience, most recently at Schroders where he served as Investment Director, Global Equities and held senior responsibilities across Australia and New Zealand distribution and client engagement.

Charlie Wapshott joins as Regional Sales Manager based in Melbourne, working closely with the client adviser team to support wholesale distribution across the southern region. Charlie was most recently Head of Distribution & Investment Specialist at Claremont Global, where he led distribution activity nationally as well as prior roles at Evans & Partners and Australian Unity.

These appointments are in addition to Milos Djuranovic, who joined the firm as a Sydney-based Client Adviser earlier in the year. Milos brings seven years’ experience in funds distribution and adviser engagement across fixed income, equities and alternatives, most recently managing a panel of more than 300 adviser clients across NSW at Fidante.

“Building a top-notch local team is central to how we serve clients in Australia over the long term,” said Andrew Creber, CEO of JPMAM Australia & New Zealand. “Ben, Charlie and Milos each bring strong experience partnering with investment teams and clients, and their appointments reflect our continued investment in people and capability to support advisers and investors.”

“Our clients value clarity, access and consistent support,” said Mark Carlile, Head of Wholesale, Australia and New Zealand. “These appointments are a result of the significant growth we have seen in our business. The expanded team means greater coverage and engagement with advisers and ultimately delivering tailored investment solutions that meet their needs.”

Globally, JPMAM has seen significant growth in its assets under management, currently USD 4.6 trillion as of June 30, 2026.

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Claire Simpson

JANA Investment Advisers (JANA) has launched the JANA Private Credit Trust (‘the Trust’), expanding its suite of investment trusts to provide wholesale investors with access to a diversified global private credit strategy through an institutional-quality investment structure.

The Trust has already grown to more than $270 million in funds under management and provides access to high-quality global private credit opportunities that are often difficult to source directly in Australia, bringing together JANA’s institutional manager research, portfolio construction and governance capability within a single investment solution.

The JANA Private Credit Trust has been designed to address common implementation challenges associated with private credit investing, including manager access, portfolio diversification, capital deployment and ongoing governance.

The launch reflects growing demand from wholesale investors for private credit solutions that combine rigorous manager selection, strong governance and efficient implementation.

Robert Moore, Head of Debt at JANA, said: “Private credit has rewarded investors well, but the way investors access the asset class matters. In building the JANA Private Credit Trust, we considered the practical issues that can affect investor outcomes, including slow deployment, cash drag, fee leakage during ramp-up, cash-style benchmarks and unhedged currency exposure.

“We set out to address each of these in the JANA Private Credit Trust through a structure designed to provide efficient implementation, day-one credit market exposure and a more relevant framework for measuring private credit performance.”

Key features of the Trust include:

• Institutional-quality manager selection: JANA has appointed two experienced private credit managers through customised mandates designed specifically for the JANA Private Credit Trust, providing tailored portfolio guidelines rather than relying on off-the-shelf flagship funds.
• Portfolio construction: The Trust targets what JANA assesses as one of the strongest risk-adjusted segments of the global private credit market – core middle-market corporate direct lending across the US and Europe.
• Reducing cash drag: The Trust has been designed to provide investors with immediate market exposure while capital is progressively deployed into private market investments, helping reduce the cash drag often associated with open-ended private credit products.
• Benchmark transparency: The Trust adopts the Cliffwater Direct Lending Index, net of fees, unlevered and hedged into Australian dollars, providing a more relevant reference point for measuring private credit performance than traditional cash-style benchmarks.

The new Trust builds on JANA’s long history of constructing multi-manager portfolios for institutional investors.

JANA Investment Trusts have been operating since 1994 and manage approximately $18.8 billion across 25 trusts, spanning a broad range of asset classes for institutional investors, including universities, charities, insurers and other liability-aware institutions.

Manager selection sits at the core of the Trust’s investment approach. JANA has appointed Arcmont^[1], an investment affiliate of Nuveen, and Jefferies Credit Partners^[2] through customised mandates based on their institutional experience, disciplined underwriting, focus on downside protection and alignment with JANA’s rigorous governance standards.

Claire Simpson, Head of Investments, JANA Investment Trusts, said: “Private credit has evolved into an increasingly important component of diversified portfolios, yet many of the highest-quality opportunities remain difficult for investors to access directly.

“As private credit continues to mature as an asset class, we believe the differentiator will increasingly be manager selection, efficient implementation and product design, portfolio construction and strong governance – not exposure alone. The JANA Private Credit Trust brings these disciplines together through carefully selected global managers, customised mandates and JANA’s institutional research and governance capability.

“Designed for wholesale investors with a long-term investment horizon, the Trust provides access to institutional-quality private credit exposure through a professionally managed structure focused on efficient implementation and long-term investment outcomes.”

———

Notes:
[1] Arcmont Asset Management, an investment affiliate of Nuveen (the asset manager of TIAA), is a private credit asset management firm providing flexible capital solutions to a wide range of businesses in Europe. Established in 2011, Arcmont has raised approximately €45 (A$74) billion of investable capital from investors globally and has committed over €44 (A$72) billion across more than 540 transactions from its launch. Headquartered in London, Arcmont’s presence spans Amsterdam, Frankfurt, Madrid, Milan, Munich, Paris, Stockholm and New York. It maintains a local origination network and builds and preserves close relationships with sponsors, borrowers and local intermediaries.
[2] Jefferies Credit Partners (“JCP”) is the investment management division of Jefferies Finance LLC, an over 20-year-old joint venture between Massachusetts Mutual Life Insurance Company, a global, diversified life insurance and financial services organization, and Jefferies Financial Group Inc. a leader in global investment ba

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Now in its third year, IN Day has evolved as an important milestone for Australia’s alternative investment industry.

The 2026 program features speakers and investment professionals from HSBC Global Investment Research, Perennial Partners, Terra Capital, Tribeca Investment Partners, L1 Capital, Senjin Capital, Colter Bay Capital, Pacific Equity Partners and other specialist alternative investment managers and family offices.

Michael Gallagher, Chairman of the Alternative Future Foundation, said IN Day was created to give the alternative investment community a different kind of industry forum.

“IN Day started three years ago to bring together leading alternative investment managers, family offices and sophisticated investors for genuine conversations about where opportunities are emerging and how capital is being allocated.

“We deliberately wanted it to be different from a traditional investment conference. It’s not about product pitches or sales presentations, it’s about bringing smart people together to openly share ideas, challenge conventional thinking and hear directly from specialists who are investing in private and alternative markets every day.

“Today, IN Day has grown into an important event on the alternative investment calendar and a key part of Sydney Alternative Investment Week. This year’s calibre of speakers and participating firms is exceptional, and the agenda reflects many of the issues investors are grappling with right now – from the global macro environment and commodities to Asia, AI and the changing role of family office capital.

“Importantly, there is also a purpose behind bringing the industry together. The funds raised through IN Day support the charities of the Alternative Future Foundation, so the day is not only about sharing investment ideas and building stronger industry connections but using our collective network to create a positive impact.”

Event details:
IN Day 2026
Wednesday, 16 September 2026
The Fullerton Hotel Sydney

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