AMP loses over 150 advisers to micro-AFSLs; Jones forecasts QAR position by June

Whilst micro-AFSLs’ numbers continue to grow, larger licensees including AMP and Insignia Financial are struggling to hold down their advisers.

Minister for Financial Services, Stephen Jones, has blamed the federal budget for the delays to the Quality of Advice Review but said he is expectant of a position by June.

Morningstar’s managing director for Australia and New Zealand, Jamie Wickham, is to depart the business after 17 years and will be replaced by the firm’s wealth head.

It will be impossible to find a “sweet spot” of how much information on ESG is appropriate and advisers can expect overwhelming volumes to continue to be necessary for compliance, according to a panel.

The Australian ETF industry saw trading values fall to their lowest values in over two years as April’s figure was almost half its March value.

Federated Hermes has appointed Jim Roland as head of distribution for Asia Pacific as the firm expands in the region.

In this week’s episode of Relative Return, Mayflower Consulting’s CEO, Sarah Penn, chats with host James Mitchell about structural issues in the Australian superannuation sector as Baby Boomers move from accumulation to drawdown.