Week at a glance, 14 May

Former AMP chairman talks culture, government releases ASIC levy proposals, Decimal strikes enterprise robo-advice deal and more.

'We need to do better,' says AMP chairman

In his last speech as AMP chairman, Simon McKeon said while the financial services company is making efforts to improve its culture, no organisation is perfect and mistakes can be made.

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Govt proposes 150% hike on ASIC levy

The government has released proposed levies for industry regulators under which $70 million would be recovered to fund ASIC, up 150 per cent on the previous year.

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Budget could mean big opportunity for product providers: Tria

Not-for-profit funds may shift to a 'full service' model as a result of last week's federal budget measure outlining a $1.6 million lifetime cap on pension balances, says Tria Investment Partners.

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Cognitive decline a catalyst for financial fraud, study finds

Advisers need to be aware of financial scams and abuse targeted at ageing investors who are experiencing cognitive decline, says State Street Global Advisers.

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Instos should directly engage non-advised Aussies: Investment Trends

Despite their understanding the benefits, millions of Australians will not seek financial advice any time soon, providing an opportunity for financial institutions to approach these people directly, according to Investment Trends.

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Tread around budget changes before election, says AFA

Advisers must tread carefully in relation to changes announced in the 2016-17 federal budget on 3 May because there will be no legislative certainty before the federal election, warns the AFA.

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FPA announces new head of education

The FPA has named a new head of education, who will work on developing solutions for existing advisers ahead of the new education standards.

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Decimal lands robo deal with global firm

Robo-adviser Decimal has struck its first enterprise robo-advice partnership with a "leading global professional services firm".

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International wealth group expands to Australia

An international wealth management group has announced its entry into Australia after Melbourne-based advice firm MW Lomax joined its network.

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Life industry claims rises for 10th year in a row

The total amount of claims dollars paid to claimants has increased for the tenth year running, according to research from consultancy firm The Risk Store.

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