Demand for LICs and LITs holds steady

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The market capitalisation of the almost 100-year-old Listed Investment Company (LIC) and Listed Investment Trust (LIT) sector remained steady at the end of October when compared with a year ago. Angus Gluskie, Chairman of the industry association LICAT, said: “While much attention has focused on the re-bound in the stock market as measured by the All Ordinaries... Read more continue reading

Why are SMSF and retail investors missing out on ASX capital raisings during COVID-19?

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Retail and self-managed super funds often lose out when listed companies raise capital, and the regulatory framework overseeing equity capital needs to be reformed to remove this anomaly in the capital markets, says SMSF Association CEO John Maroney. Maroney, who was participating in a virtual forum examining the issue of “Why are SMSF and other... Read more continue reading

Statement in response to the Independent Review of the Tax Practitioner Board (TPB)

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The FPA welcomes the release of the independent review of the Tax Practitioners Board, particularly recommendation 7.1, which recognises the need to simplify the regulatory framework for tax (financial) advisers. The Review recommends, in alignment with implementing Recommendation 2.10 of the Final Report of the Financial Services Royal Commission, a new model be developed for... Read more continue reading

2020 FPA Award winners revealed

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The Financial Planning Association of Australia (FPA) has announced the winners of the 2020 FPA Awards. Now in its eighth year, the FPA Awards recognises exceptional financial planners, paraplanners, university students and FPA Professional Practices from across Australia. The awards also celebrate the individuals and businesses who go above and beyond to deliver outstanding results... Read more continue reading

AIA Australia CEO Damien Mu joins ANZIIF Board

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The Australian and New Zealand Institute of Insurance and Finance is proud to announce the appointment of Damien Mu to the ANZIIF Board. Damien is the Chief Executive Officer for AIA Australia, holding extensive experience spanning over 20 years in the insurance industry. He is an executive leader in the Australian Financial Services industry with... Read more continue reading

FASEA releases October exam results

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FASEA has released exam results from the eighth Financial Advisers Exam held in October 2020. Result highlights include: over 10,460 advisers have passed the adviser exams held to date overall, 89.5% of advisers who have sat the exam (irrespective of how often it was sat) have passed, representing 49% of advisers on ASIC’s Financial Adviser... Read more continue reading

Survey sheds new insights on why individuals set up SMSFs

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An SMSF Association survey of nearly 800 SMSF trustees finds individuals are motivated by far more than costs or investment returns when deciding to establish a self-managed super fund. SMSF Association CEO John Maroney says: “The long-standing debate when comparing an APRA-regulated fund with an SMSF is typically restricted to a simple analysis of costs... Read more continue reading

Bold plan to reshape Australia’s financial system

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Australia’s financial services sector has come together in an unprecedented coalition to promote a transformation of the country’s financial system to prioritise prosperity for all, meet 21st century sustainability challenges, and position Australia more competitively within international markets. The Australian Sustainable Finance Initiative (ASFI) – comprising 80 organisations across major banks, insurers, super funds, civil... Read more continue reading

FPA responds to the Government’s release of the Retirement Income Review

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The FPA welcomes the Government’s release of the Retirement Income Review, which recognises the importance of financial advice to Australians planning for their retirement. The Review found that while Australia’s retirement income system is strong, it remains overly complex and requires greater balance between its three pillars of the age pension, superannuation and voluntary savings, including... Read more continue reading

Retirement Income Review throws welcome light on superannuation

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The SMSF Association welcomes the Retirement Income Review – a significant report that will provide policy evidence for the superannuation industry for many years to come. Association CEO John Maroney says it’s reassuring to the industry, and self-managed super funds in particular, that the Review has found the retirement income system is effective, sound and... Read more continue reading