Sat, 8th Jun 2024 - Superannuation News Wrap

What this episode covers

In this week's Superannuation News Wrap, Paige Estritori discusses recent developments in Australia's financial services sector. The Australian Financial Complaints Authority (AFCA) plans to discontinue Dixon Advisory's membership, which has stirred debate about future compensation claims handling. SMSF Association CEO, Peter Burgess, and Financial Advice Association CEO, Sarah Abood, are urging government intervention for sector stability, and reassessment of the Compensation Scheme of Last Resort. Particularly, Burgess criticizes the scheme's brief funding period and unfair exclusion of managed investment schemes. Abood also emphasizes the necessity to address uncertainties about Dixon's parent company, Evans & Partners, to prevent increased cost for consumers due to potential industry departures. Through ongoing discussions, a fair solution benefiting both, consumers and the industry, is anticipated. More updates available at financialservicesonline.com.au.

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Frequently Asked Questions

How long is this episode of Superannuation News Wrap?

This episode is 2 minutes long.

When was this Superannuation News Wrap episode published?

This episode was published on June 7, 2024.

What is this episode about?

In this week's Superannuation News Wrap, Paige Estritori discusses recent developments in Australia's financial services sector. The Australian Financial Complaints Authority (AFCA) plans to discontinue Dixon Advisory's membership, which has stirred...

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