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Search and destroy
Geoff Wilson's first rule of investing is pretty simple: don't lose money. If you want to know the second and third rules, refer back to the first. While the particulars of his investment philosophy have evolved over the past 50 years – and more on that in a bit – that first rule is sacrosanct. And it’s exactly what led…
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Why super funds shouldn’t meddle in adviser-client relationships
As financial advisers, we all want the best for our clients as they move into retirement. The government’s latest consultation on superannuation retirement income solutions is meant to help retirees get better outcomes, more choice and clearer information. On the surface, that’s something we can all get behind. As I read…
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The hidden truth in Australia's inheritance tax debate
Australia doesn’t have an inheritance tax – at least, not officially. But heading into 2026, the debate is heating up again, and financial advisers would be wise to pay attention. While many Australians assume their estate planning is simple in a country without death duties, the reality is far more complex. The largest…
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The bleak future of the CSLR
The FAAA saw merit in a comprehensive review of what went wrong at Dixon Advisory and why so much money was lost by so many clients. As it stands, the largest 10 financial institutions have already paid $203 million into the CSLR for Dixon Advisory claims alone. The advice profession, or whoever else pays the special levy,…
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This is tomorrow calling
“Sometimes, you need to be a bit provocative.” As a mission statement for the Financial Services Council’s Value and future of advice licensing green paper, that might seem a little reductive. For FSC CEO Blake Briggs, though, it gets the point across. If you haven’t already, you can read the full paper here. It goes into…
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How the new Aged Care Act impacts advisers
Australia’s aged care system is about to change in ways that will materially affect retirement plans, cash-flow strategies and advice conversations. A new Aged Care Act commences on 1 November 2025, introducing increased rights for older Australians and a strengthened regulatory model. Most importantly, though, it brings…
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Pretty hate machine
Confession time: back when I was a trade journalist during the Royal Commission, I never found the “few bad apples” defence very persuasive. Not because of any strongly-held convictions, mind you; it’s just that the pedant in me couldn’t tolerate an idiom being so woefully misused. If someone mentioned bad apples without…
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Shield and First Guardian – the next "black swans"
Concerns about potential future large-scale CSLR matters were reinforced by a recent media release from the operator of the scheme. While the media release was focused on an underspend of the 2024/25 CSLR levy, it included a clear warning: “Beyond [Dixon Advisory], the CSLR has seen multiple large-scale firm failures…
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The $3m super tax won’t just impact billionaires
The pitch was simple – tax super balances over $3 million – but the reality is far more complex and structurally disruptive than initially communicated. Division 296, positioned as a fairness initiative, is set to materially impact the way advisers approach superannuation strategy, asset allocation and retirement planning…
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Six more months
You've probably seen the news. Over the weekend, [Labor/the Coalition] secured a [decisive/tentative] victory in the federal election. [Defying all odds/in a surprising rebuke to exit poll figures/in line with most predictions/as foretold in prophecy], [Anthony Albanese/Peter Dutton] has been [elected/reelected] as prime…