Inappropriate advice complaints to AFCA jump 589%; Meeting goals outranks investment performance for advised clients

Two investment firms have made up almost half of investment and advice complaints as AFCA reports a rise of 589 per cent in complaints about inappropriate advice during FY2022–23.

Australian investors are more likely to want advisers to help them meet their goals rather than chase investment performance, according to research by Milford.

AMP has tapped super industry veteran Melinda Howes to lead its superannuation and investments business.

The financial services group is the sole Australian firm to sit among the top 50 investment managers across the globe, but Australian firms have seen a decrease in AUM overall, the Thinking Ahead Institute finds.

HUB24 chair and non-executive director, Bruce Higgins, is to step down from the board after 11 years and the platform has named his replacement.

Morningstar has hired former Adviser Ratings chief executive, Mark Hoven, to drive the firm’s expansion in the superannuation and retirement space.

With the sweeping superannuation reforms on 1 July 2017, there has been a slew of new terminology and thresholds to contend with, and this has understandably led to some confusion, writes Chris Chow.