CALI CEO Christine Cupitt said a blanket ban would reduce customer choice and restrict Australians’ access to life insurance. She said the industry is seeking an exemption from any broad lead generation ban or other restrictions the Federal Government is considering in the wake of the Shield and First Guardian collapses.

“Life insurance lead generation plays an important role in helping customers access information, compare products and obtain life insurance protection,” Ms Cupitt said.

“A blanket ban for life insurance risks limiting legitimate information and connections that support customers to build their financial safety net.”

Ms Cupitt said a blanket ban would prevent life insurers from receiving customer enquiries from comparison websites, a popular and convenient way for customers to access basic information about financially protecting themselves and their loved ones.

“One in two Australians want personalised advice about life insurance and more people are turning to online tools, including market comparison sites, to learn about life insurance,” Ms Cupitt said.

Lead generation from these sites provides a safe and quick way for potential customers to get more information about the life insurance products that might suit their needs.

“The government should not cut off safe, regulated pathways that help Australians access life insurance.”

Ms Cupitt said CALI would be arguing a strong case for exemption, as well as the urgent need for the Delivering Better Financial Outcomes legislation to be released in full over the coming weeks as the government looks to finalise its promised reform package.

“Australians need easier access to life insurance, not more barriers,” she said.

CALI said an exemption should apply where:

• lead generation is undertaken for the sole or dominant purpose of promoting, referring or facilitating access to a life insurance product or service; and
• the initiating party complies with obligations under the Corporations Act, ASIC Act, Privacy Act and other consumer protection laws.

“This approach keeps reforms tightly focused on harmful conduct while preserving legitimate customer access to life insurance protection,” Ms Cupitt said.

The post Australians need easier access to life insurance, not more barriers appeared first on AdviserVoice.

Ali Dibadj

Janus Henderson has announced that it has entered into an agreement to acquire Rantum Capital, a Frankfurt‑based private markets investment manager, strengthening its presence in Germany and accelerating its ambitions in private markets across Europe.

Founded in 2013, Rantum Capital focuses on providing private debt and private equity financing solutions to family and entrepreneur‑owned small and mid‑sized companies in Germany, Austria and Switzerland (the DACH region). The firm has raised around €1.2 billion of capital across its private credit and private equity strategies.

Germany is one of the largest and most important institutional investment markets in Europe. The acquisition will significantly increase Janus Henderson’s scale and local presence in the country, while Rantum’s established relationships with institutional investors, including pensions, insurers and family offices, will extend Janus Henderson’s reach across the DACH region.

Rantum is expected to play a central role in the build‑out of Janus Henderson’s pan‑European private credit platform, leveraging its 13‑year track record and highly experienced investment team. The firm’s differentiated sourcing model and established capabilities position it well to support a phased expansion across Europe over time.

The acquisition also enhances Janus Henderson’s capabilities in private equity, complementing the firm’s broader private markets strategy. Rantum’s private equity expertise has the potential to support future product development.

A distinctive element of Rantum’s platform is its industrial partner network, a group of highly experienced former board members and senior executives from leading German companies. This network provides deep sector insight, strengthens sourcing and enhances local credibility, offering additional perspective and connectivity for Janus Henderson.

The acquisition builds on Janus Henderson’s recent expansion in private markets, following the acquisitions of NBK Capital Partners in the Middle East and Victory Park Capital in the US in 2024, and the firm’s pre-IPO investment strategies, and represents a further step in developing differentiated private markets capabilities across key regions.

Ali Dibadj, Chief Executive Officer of Janus Henderson, said: “As client demand for private markets continues to grow, we are very excited to announce the acquisition of Rantum Capital, which expands our private credit and private equity capabilities in Europe, a strategically important region for the firm. This transaction reflects our focus on diversifying into high‑demand areas while also amplifying our existing strengths, including our institutional client relationships, to better support our clients’ evolving needs.”

Alex Veroude, Head of Fixed Income at Janus Henderson, said: “We are delighted to have the Rantum team join Janus Henderson. They have built a strong private markets platform with a proven track record and deep relationships in Germany and across the DACH region. As clients seek differentiated exposure to private credit, this transaction strengthens our ability to meet that demand. It builds on the private markets capabilities we have been expanding globally, including Victory Park Capital in the US and NBK Capital Partners in the Middle East, and complements our broader offering, including our securitised and ETF capabilities, allowing us to offer a wider range of credit solutions to clients.”

Dirk Notheis, Co-Founder and Managing Director of Rantum Capital, said: “We are very pleased to be joining Janus Henderson, a company with a strong culture and entrepreneurial approach. By combining our local and private markets expertise with Janus Henderson’s global distribution platform, we will be able to create even more value for our investors in the future and expand our offering across Europe”.

 Financial terms of the transaction are not disclosed and the acquisition is expected to close in the third quarter of 2026 subject to customary closing conditions, including regulatory approval.

Campbell Lutyens served as exclusive financial advisor to Rantum Capital. Schilling, Zutt & Anschütz acted as legal counsel to Rantum Capital and Skadden, Arps, Slate, Meagher & Flom acted as legal counsel to Janus Henderson.

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June Smith

The Australian Financial Complaints Authority (AFCA) welcomes confirmation by the Federal Government that it will be the single, centralised External Dispute Resolution (EDR) scheme for scam complaints under the Scams Prevention Framework (SPF).

The SPF expands AFCA’s jurisdiction to consider the role of banks, telcos and digital platforms in scam complaints.

AFCA will be the one-stop-shop for consumers who have not been able to resolve their scam complaint through Internal Dispute Resolution.

The multi-party EDR service for SPF will be the first of its kind in the world and recognises the sophistication of modern scams, which often involve multiple organisations across different sectors.

Designated banks, telcos and digital platforms will be required to be AFCA members from Tuesday 1 September 2026, giving consumers access to an independent external dispute resolution pathway for complaints under the Scam Prevention Framework.

AFCA will be able to deal with scam complaints under the new framework from 31 March 2027.

“We welcome the Government’s announcement and the confidence it has placed in us to act as the external dispute resolution scheme under the Scams Prevention Framework. We have significant experience handling complex complaints at scale, and we’ll be using that experience to build an effective and accessible service,” said AFCA’s acting Chief Executive Officer and Chief Ombudsman Dr June Smith.

“We recognise the size of the task and look forward to working closely with all stakeholders to deliver a robust, fair and efficient dispute resolution process,” said Dr Smith.

AFCA recently appointed David Lacey as its inaugural Chief Scams Officer (CSO) to lead the establishment of the new scams EDR scheme.

“Scams are one of the most significant issues affecting consumers today. They are increasingly sophisticated and they leave people facing devastating financial and emotional consequences” said the Chief Scams Officer.

“We recognise the complex nature of modern scams and the need for fair outcomes for victims and the organisations involved. We look forward to welcoming new members to AFCA.”

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Tanya Dawson has been permanently appointed Chief People Officer, reporting to AZ NGA’s Group CEO, Paul Barrett.

Dawson joined AZ NGA in November 2025 as Acting Chief People Officer and has over 25 years of financial services and human resources experience. Her previous roles include Chief People Officer at ClearView, Cuscal Payments and Zurich Cover-More.

Former Head of Finance and Treasury at Cuscal Payments, Cormac Galvin has joined AZ NGA as General Manager, Finance and Transformation, reporting to AZ NGA Chief Financial Officer, Jodie Blackledge.

In the group’s operations team, former Chief Information and Digital Officer at Vital Business Partners, Shaun Nesbitt has been appointed Chief Technology Officer.

In his role, Nesbitt is responsible for driving AZ NGA’s ongoing digital transformation, spanning advice systems, data analytics and AI, and cyber security.

Former General Manager, Technology and Operations at Diverger, Sonya Choi La Rosa has been appointed Head of Business Improvement.

In her role, Choi La Rosa is responsible for building the group’s Advice Model Office, incorporating best practice processes, common technology and integrated change capability, with a focus on continuous improvement in experience and delivery.

Former Head of Managed Accounts and Alternatives at MLC, Neil Gellett, has been appointed Head of Product.

In his role, Gellett will develop AZ NGA’s product strategy, establish a robust product governance and oversight framework, and strengthen relationships with key investment, life insurance and platform partners.

Nesbitt, Choi La Rosa and Gellett report to Nathan Jacobsen, AZ NGA’s recently appointed Chief Operating Officer.

All three roles are newly-created positions, reflecting AZ NGA’s rapid growth and ambitious plans to build integrated Super firms, supported by centralised services and operations.

“AZ NGA is an ambitious, fast-growing business and we are investing heavily in our people and teams to ensure that we have the right skills and expertise to deliver significant benefits, achieve our objectives and targets, and continue growing and scaling,” Barrett said.

“Backed by a supportive Board, we have the plan, the funding and the people to execute our strategy and this is an exciting time for the business.”

Jacobsen said the group was focused on establishing the right foundations to support AZ NGA’s rapidly expanding network of accounting and advisory businesses to deliver quality advice at scale.

That involved consolidating systems, processes and service providers to maximise operational and cost efficiencies.

“We are looking to leverage our scale to deliver improved outcomes, not only in terms of the bottom line, but risk controls and client experience,” he said.

“Many of the areas that my team is focused on are not central to an adviser’s value proposition, they are back-office activities and functions, but they are critical in driving performance and underpinning long-term growth.”

Responsibility for driving front office growth initiatives, including the integration of Super firms and enhancing the group’s client value proposition, falls under AZ NGA’s Chief Growth Officer Chesne Stafford.

Stafford and her team work closely with member firms on areas including M&A, brand, marketing, pricing and offer design for client segments.

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BlackRock Australia has announced its intent to launch the iShares World Equity High Income Complex ETF (ASX: WYNC), an actively-managed strategy designed for income-focused investors who also want to track the broad market. 

WYNC is an innovative addition to the iShares ETF offering that seeks to generate high income by actively managing a diversified basket of securities, which provide exposure to the broad global equity market, alongside selling index call options. The strategy is designed to harvest income from multiple sources, rather than relying on a high-dividend bias.

The strategy uses BlackRock’s dividend rotation approach with proprietary investment insights that blend human expertise, big data and machine learning, the strategy uses over 1000 data signals to identify opportunities for higher yield.

The fund is managed by BlackRock’s Systematic team with a more than 40-year track record of data-backed investing, led by Raffaele Savi, Global Head of BlackRock Systematic, alongside Robert Fisher, CFA, and Anna Hawley, CFA.

The launch underscores BlackRock’s continued focus on expanding access to active investment solutions in Australia.

Gareth Hughes, Australia Head of Retail Wealth at BlackRock, said: “Investor needs in Australia continue to change, with a greater focus on income, whole-of-portfolio outcomes and flexibility in how strategies are delivered – whether it’s index or active, ETF or managed funds. 

“WYNC reflects this evolution, bringing an innovative, income-focused equity solution to the iShares platform while maintaining a risk profile aligned to global markets. We see the fund as a natural fit at the core of the portfolio for advisers and investors looking for a regular source of income, without the performance distortion that can often come with more traditional equity yield strategies.

“We are pleased to bring WYNC to market, expanding access to active income strategies through the ETF structure.”

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Michael steps into the role currently filled in the interim by Chris Artis, following the resignation of CEO Bill Watson in early January.

First Super’s acting CEO, Greg Everett, says Michael’s appointment comes at an important time for the fund.

“Michael brings a rare combination of deep investment expertise, strong governance discipline and a proven ability to build high-performing teams. His experience across asset allocation, portfolio design and investment stewardship positions him to drive our investment strategy forward and deliver long-term value for members.”

Michael joins the fund having held senior investment roles at other industry superannuation funds, including Prime Super and Media Super, where he was responsible for investment strategy and operations, including investment governance.

In accepting the role, Michael says he is looking forward to helping the Fund strengthen its investment capability.

“First Super has built a solid investment foundation and I’m looking forward to working with the team. As financial markets become increasingly complex, a disciplined approach is critical to ensure we deliver competitive outcomes to members.”

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Seth Hoskin

ICE Investors has appointed Seth Hoskin to the role of deputy portfolio manager, effective 1 June. He will be based in Melbourne and will report to ICE Investors, managing director and portfolio manager, Callum Burns.

He joins ICE Investors from Foresight Group where he worked as an investment senior manager and co-fund manager for three years. Prior to that he was a small cap equity analyst at Canaccord Genuity Australia and Forsyth Barr Limited. He started his career as a research analyst at the University of Otago.

Burns says Hoskin’s appointment adds an additional resource to the investment team, strengthening the firm’s expertise in small cap funds management. He will be part of the research and stock selection for the ICE fund, an actively managed Australian equity fund.

“His experience and knowledge of both small caps and experience investing globally will be an asset to our team, broadening our scope to cover off more of the small cap universe.

“Seth brings with him valuable experience and has a proven track record of stock picking backed by in-depth research and due diligence.

“He will be involved in finding new investment ideas and opportunities to add to the portfolio and in turn providing greater returns for our clients.

“Seth’s professional and approachable style will be a value-add for both our clients and is a great cultural fit for our team,” says Burns.

Hoskin holds a Bachelor of Commerce, Economics and a Master’s degree in Finance from the University of Otago.

This appointment follows the promotion of Roman Aliev to Portfolio Manager earlier in the year.

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Stephen Miller

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Catherine Evans

“Surely this doesn’t apply to me, as my clients aren’t criminals.”

This is heard time and again from advisers and is exactly the wrong way to think about Anti-Money Laundering / Counter Terrorism Financing (AML/CTF).

Australia has been significantly behind the international community on AML legislation for years now, with increased pressure to bring our regime into line being tied to the real risk of grey listing from international trade. This is a large part of why these reforms have moved as quickly as they have.

The laws are now in place and operational, with AUSTRAC’s expectations higher than much of the advice profession has yet appreciated.

Existing reporting entities, including self-licensed advisers, have been operating under the new framework since 31 March 2026.

That deadline has passed, and the next critical date is 1 July 2026. This is when new designated services and new reporting entities come into the regime in full.

The starting point is knowing which services are regulated, and this is where most firms underestimate the complexity in its entirety.

The designated services in the legislation are worded broadly, and AUSTRAC’s guidance does not always map neatly to how advice businesses operate. If for example you recommend an SMSF and simply refer the client to their accountant to manage the set up process, you are likely not providing a designated service (the accountant would be). But if you facilitate the set-up process, by completing forms, using a document provider, effectively setting it up for the client or on their behalf, then you almost certainly are.

Similarly, if you hold authority over a client’s account and make payments on their behalf, that is a designated service. And if you provide a registered office address for any client, that is a separate designated service as well.

None of these are unusual arrangements in an advice practice, they are everyday occurrences. And they are precisely the kinds of services this regime is designed to capture.

What has also surprised many integrated practices is the group-level reach of the new laws. This is  where an advice business has an associated accounting arm, both entities may be caught and need to be separately enrolled.

Corporate authorised representatives providing any of the new designated services will also be regulated and require enrolment with AUSTRAC, not just the licensee entity. The day of assuming the licensee manages all of this are gone.

Once you’ve determined one or more of your services are regulated, then the obligations are extensive and includes a money laundering and terrorism financing risk assessment, policies and controls, personnel due diligence, training, an internal governance framework, and annual reporting to AUSTRAC.

The most common mistake we see is treating this as a documentation exercise. A policy gets written, filed away, and never touched again. But the framework only works and only holds up under scrutiny when it is embedded in how the business operates.

What does the team do day to day? How are concerns escalated? How are decisions recorded? That is what AUSTRAC is interested in, and that is what an independent evaluation will examine.

This is the part many firms have not fully grasped yet, that AML/CTF compliance is not a set-and-forget exercise. Customer due diligence will continue throughout the life of a client relationship, not just at onboarding.

Suspicious matter reporting obligations are triggered by reasonable suspicion, not proof, not certainty. Once that suspicion forms, a report must be lodged within three business days. AUSTRAC has already signalled its concern that the advice industry is not reporting enough, which is a clear indication of where scrutiny is heading.

Enhanced customer due diligence under the new regime is also no longer a checklist. It is a judgement call, based on the specific risks identified. There is no one-size-fits-all answer, and firms need people who can make those calls.

There is one more thing worth being direct about, even if the overall risk profile is genuinely low, that does not reduce any of the legal obligations. Risk shapes how you comply with certain parts of the framework, it does not determine whether you comply.

This distinction matters, and it is where many otherwise well-run firms find themselves exposed.

The firms that will manage this well are not the ones trying to minimise the issue. They are the ones that have taken the time to understand what is required, built it into how they operate, and can demonstrate clearly that their framework works in practice.

With 1 July weeks away, there is still time to get this right. But not much, because when questions come, confidence will not come from knowing your clients well. It will come from being able to show your workings.

By Catherine  Evans, Founder and Head of Legal

The post My clients aren’t criminals, so why does AML/CTF apply to me? appeared first on AdviserVoice.

Lorraine Robinson

The Lonsec Investment Governance Solution (IGS) is a new capability designed to help compliance and governance teams, research functions and investment teams strengthen oversight, respond earlier to emerging risks and maintain clear, defensible audit trails.

As investment governance expectations intensify, it has become essential to demonstrate transparent, defensible processes. The Lonsec Investment Governance Solution addresses this shift directly, providing a practical and scalable way to embed governance discipline into everyday workflows. Integrated within iRate, Lonsec’s investment research platform, IGS brings together key governance indicators including ratings changes, performance and fee monitoring, and other material signals into customisable dashboards and reports. This allows governance teams to move away from fragmented spreadsheets and manual processes, replacing them with a consistent, structured and auditable approach to oversight.

The Lonsec Investment Governance Solution is suited for organisations that need to demonstrate consistent, evidence-based oversight of their approved product list or investment menu, such as financial advice licensees, platforms, trustees, investment committees, and governance teams.

Lorraine Robinson, Lonsec Chief Executive Officer, said strong governance plays a critical role in building trust with clients and members:

“Across advice licensees, platforms and trustees, expectations around governance have never been higher,” Robinson said. “Advisers and clients want to know that investment options are being monitored consistently, and decisions are made with care and accountability. The Lonsec Investment Governance Solution provides the framework and transparency that supports better decision making and greater confidence at every level.”

Anna Schofield, Head of Sales at Lonsec, said the solution reflects the growing need for confidence and reassurance across the advice value chain:

“With recent high-profile failings in our industry, the focus on investment governance has intensified and the obligation on those who manage APLs and investment menus in particular has become clearer,” Schofield said. “By embedding governance signals directly within iRate, the Lonsec Investment Governance Solution gives investment teams and advisers greater clarity and confidence in decision making, with a clear and defensible record of how and why decisions were made. Our solution delivers real peace of mind, not just for investment committees, but for advisers and their clients.”

Increasing product complexity and ongoing scrutiny of fees, performance and investment decision making have raised the bar for governance across the industry. By centralising monitoring within an existing research ecosystem, the Lonsec Investment Governance Solution helps organisations strengthen governance while reducing manual effort. This capability supports more confident adviser-client conversations and provides end clients with reassurance that their investments are being actively and transparently overseen.

Lonsec is uniquely positioned to meet this need. With qualitative research coverage spanning more than 1,900 investment products, a well-resourced local analyst team with specialist expertise in the Australian market and regulatory environment, and a rigorous investment research process refined over several market cycles, Lonsec brings a level of depth and credibility that few research houses can match. This foundation underpins Lonsec IGS, empowering advisers and their clients with greater confidence at a time of heightened regulatory scrutiny.

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