The Government has today released the final report of the Quality of Advice Review.
This was seven weeks after it was handed to Minister for Financial Services, Stephen Jones, on 16 December.
The report, which was 267 pages, contained 22 specific recommendations for the industry.
These covered:
More to come
Amid a challenging market environment, three super fund CIOs have warned against ‘jumping at shadows’.
The professional body is calling for the annual performance test to transition to a two-metric test, so it better aligns with the overarching duty of super fund trustees to act in the best financial interests of their members.
AustralianSuper, Rest, and HESTA agree on the need to retain and enhance the test, yet they differ in their perspectives on the specific areas that warrant further refinement.
Australia’s second-largest super fund has confirmed it is expanding its presence in the UK following significant investment in the region.
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