Keith Ford

1 week ago | ifa.com.au | Keith Ford |Laura Dew

For the year to 30 April, there have also been 180 new entrants to the financial advice profession. The same period in 2024 saw 109 new entrants, 95 of whom are still current on the Financial Advisers Register. The latest two financial adviser exams have reported a pass rate of 77 per cent in December – the highest in two years – and 73 per cent in March, subsequently helping the number of new entrants into the industry.

1 week ago | ifa.com.au | Keith Ford |Laura Dew

Morgans has announced that CEO John Clifford, who has worked at the firm since 1993 and became managing director in August 2016, will step down. He will be succeeded by James Macaulay, who is currently the deputy CEO and director of private wealth and has worked at Morgans for almost 20 years. Having joined in 2005, he was promoted to the deputy CEO position last year. “The board of directors thank John for his contribution and leadership.

1 week ago | ifa.com.au | Keith Ford |Laura Dew

In its half-year results, the big four bank said the platform’s FUA had risen by 6 per cent over the past year, sitting at $113.3 billion last March, and by 2 per cent during the half. Average FUA on the platform now sits at $524,000, up 6 per cent from $496,000 six months ago. Net flows excluding benefit payments were up 72 per cent over the year from $1.9 billion last March to $3.3 billion. However, they were only up by 7 per cent in the last six months from $3.1 billion to $3.3 billion.

1 week ago | ifa.com.au | Keith Ford |Stewart Bell

The crux of the issue lies in the human element of our industry. Technology hasn't quite yet reached a point where it can shoulder the bulk of advisory tasks, so large chunks of the advice process remain largely manual and human-dependent. And, as growing firms find themselves needing to serve more clients, the need for skilled advisers becomes more critical.

2 weeks ago | ifa.com.au | Keith Ford |Laura Dew

The Financial Services and Credit Panel (FSCP) believed the individual contravened sections 961B(1), 961G and 921E(3) specifically they did not demonstrate compliance with the Code of Ethics’ value of diligence and Standard 5. In its determination, the panel said the relevant provider gave advice in June 2022 recommending a client make a superannuation non-concessional contribution of $110,000 for the 2021-22 financial year and $301,681 (total) for the 2022-23 financial year.