Insurer reveals future of the PI industry; HNWIs favour advice from IFAs: LGT Crestone

A partner at an insurance firm has shared his thoughts on the outlook for PI insurance as APRA reveals advisers’ premium has risen more than 40 per cent since 2015.

Despite a push for advice from banks and super funds, high-net-worth individuals favour advice from IFAs and just 10 per cent would want advice from their super fund, according to research.

A global survey has found one in four Australians lack the knowledge and skills to make financial decisions, and this is costing the average household over $7,000 each year.

AZ NGA has made its latest acquisition with a stake in Sydney-based financial advice firm Foster Raffan iPlan.

Following an ASIC investigation, former investment manager Brett Trevillian has been charged for forging portfolio performance verification reports that were provided to potential investors.

With markets having already experienced an ‘unsynchronised recession’, the asset manager expects a re-acceleration of big tech in the coming quarters and suggests the worst is behind us.

Recognising the benefits of flexible work weeks on productivity, employee outcomes and engagement, two Australian advice firms have shared their successful trial stories with Money Management.