QSuper culls comprehensive advice
3 July 2020 | Financial Standard
The $110 billion industry fund will stop offering comprehensive advice to new customers on July 6 and cut over 50 positions, as it sees demand for holistic advice fall.QSuper chief executive Michael Pennisi said the decision is based on several years of data, member feedback and member needs.In the last three years, less than 1% of the fund’s 585,000 members accessed comprehensive advice via the superannuation fund. It employs 61 advisers.
Former Cbus advice head launches referral program
8 May 2020 | Financial Standard
Cbus’ former head of advice Greg Harper has launched a national referral program, looking to connect superannuation funds, accounting firms and other service organisations with financial planning groups.
AMP to pay $5.175 million penalty for failing to prevent insurance churn by its financial planners
5 February 2020 | ASIC
The Federal Court has today ordered AMP to pay a $5.175 million penalty after the court found AMP failed to take reasonable steps to ensure its financial planners complied with the best interests duty and related obligations under the Corporations Act.
Greed, hubris and weak regulation: A year on from the Hayne royal commission, has anything changed?
1 February 2020 | Sydney Morning Herald
It took the 12-month anniversary of the final report into the banking royal commission to get the Morrison government to take legislative action to fix a broken system after decades of unfettered greed and shoddy behaviour.
A new consulting firm and model with a difference
30 January 2020 | Industry Moves
Former Cbus head of advice and retirement, Greg Harper, last year left the fund to start up his own consulting firm called FASI, in order to offer specialised consultancy on financial advice services for a broad cross-section of the industry. He speaks to Industry Moves about his motivation and shares some general observations on the financial advice service industry.
Cbus head of advice launches firm
17 January 2020 | Financial Standard
The former head of advice of the $57 billion superannuation fund has launched a new consultancy firm aimed at working with super funds and dealer groups to develop better models of delivering advice.