Jason Berman

We held our first L&P Super Brief Breakfast last week, and risk and compliance professionals from several superannuation funds attended. It was a great opportunity to discuss the highlights from our recent Super Brief and how some of the recent superannuation legislation, regulation, and policy developments will impact superannuation fund trustees. It will be no surprise that CPS 230 generated plenty of discussion, especially in the context of a couple of recent events: (1) APRA applying additional licence conditions on Mercer Super to ensure it addresses risk management and compliance management deficiencies; and (2) UniSuper’s recent Google Cloud issues. One of the attendees commented that while its third-party service providers supply the relevant attestations as required, it is sometimes challenging to obtain the supporting evidence behind those attestations. The trustee then needs to take it on trust. There was also an interesting discussion about the Digital ID Bill 2024, which received Royal Assent on 30 May 2024. The legislation establishes an accreditation scheme for entities providing digital ID services and provides for privacy safeguards and a range of governance arrangements. One of the attendees speculated that this Bill might be a "game-changer" for the industry, especially if some of the existing providers used by trustees won't comply with the new requirements. Some attendees wondered if any industry bodies are preparing a position on the Bill. Another hot topic was the ASIC review of how trustees handle death benefit claims, which is currently underway, especially concerning the challenges of validating binding death benefit nominations. We look forward to hosting future Super Brief Breakfasts. To register your interest, email [email protected]. See the comments for the most recent L&P Super Brief and details of how to subscribe to future editions. #Superannuation #SuperannuationRegulations #SuperannuationLegislation

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With the right investment research and portfolio management tools, you can gain better insights to make timely, well-informed decisions in rapidly changing market conditions and effectively demonstrate the value of your advice.   Explore our growing service offering and access a range of investment and superannuation research and portfolio tools to help deliver better investment outcomes for your clients in times of uncertainty. 💡 To learn more visit - https://lnkd.in/gUcBQJPT #FinancialAdviser #AdviserTools #InvetmentResearch #Superannuation #SuperannuationPlanning #RetirementPlanning #PortfolioBuilder #Investing #PortfolioManagement Chant West FE fundinfo

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How can financial institutions stay ahead in Australia’s ever-changing market? Atlas provides trusted, always-on intelligence powered by insights from over 80,000 consumers and businesses annually. It delivers actionable insights to help you, uncover market trends and new opportunities and confidently drive growth. Get an unrivalled understanding of:  ✓ Your customers’ needs  ✓ Brand perceptions - yours and your competitors’  ✓ Product usage and needs across all categories Watch the short video below to see how Atlas can help your business stay on top and learn more here 👉 https://rfi.global/atlas/ #FinancialServices #MarketResearch #Data 

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When can we expect interest rate relief, what’s the forecast for inflation and jobs growth, and what can we expect from the housing market? In our latest Business View video, NAB Group Chief Economist Alan Oster offers insights into the conditions businesses can expect to encounter over the next 18 months. Watch the full video here: https://lnkd.in/gKRSRafr #NAB #Economics #BusinessInsights

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Discover how Australia’s small and medium businesses are doing more with less as we focus on the findings of the latest NAB SME Business Insights report.

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Upcoming tax reductions are likely to increase your borrowing capacity. In fact, some lenders have already factored this change into their lending criteria. If you’re considering a home loan, get in touch today to see how this could benefit you. www.finscape.au [email protected]

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🌟 Exciting Update: ASIC Approves New Banking Code of Practice! 🌟 📅 Effective Date: 28 February 2025 ASIC has given the green light to a new version of the Australian Banking Association’s (ABA) Banking Code of Practice, introducing key enhancements to protect consumers and small businesses. 🏦 🔍 What's New? - Expanded Small Business Definition: Aggregate borrowings limit increased from $3M to $5M, benefiting an additional 10,000 businesses. 📈 - Inclusivity and Accessibility: Improved services for customers, including interpreter services. 🌐 - Provisions for Deceased Estates: New guidelines to manage estates. 🕊️ - Financial Difficulty Definition: Broadened to provide better support. 📊 - Loan Guarantor Protections: Enhanced safeguards. 🛡️ Critical protections remain, including the requirement for banks to act with the care and skill of a diligent and prudent banker for consumer borrowers and their guarantors. 🔒 Key Provisions Retained: - Handling of consumer complaints. - Robust oversight by the Banking Code Compliance Committee. - Commitment by subscribing banks to be bound by their obligations under the Banking Code Compliance Committee Charter. The February 2025 Banking Code of Practice will soon be available on the ABA’s website. #Banking #Finance #Compliance #ASIC #ConsumerProtection #SmallBusiness #BankingCode #CustomerFirst #InclusiveBanking

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🔍 Upcoming webinar: discover the hidden challenges of Superannuation Compliance. Errors in superannuation calculations often go undetected, leading executives and directors to believe their compliance is under control. However, these issues can silently accumulate, potentially resulting in significant financial penalties, reputational damage, and operational disruptions when they eventually surface I'm really excited to be teaming up with Amanda Spinks CA FTI from Alvarez & Marsal on a joint webinar to help folks navigate both common and unexpected complexities in superannuation compliance.  Yellow Canary's resident Queen of Payroll Kirsty Martin will be facilitating 👑 Join us on 25th September 11AM AEST to: 👉 Identify hidden risks: Understand how undetected errors can escalate into major compliance issues.  💡 Get strategic insights: Learn proactive approaches to manage and mitigate these risks.  🗣️ Hear about future considerations: Explore emerging trends and their implications for future compliance and management. Register here: https://lnkd.in/gkaVk-bi #Superannuation #Compliance #YellowCanary #ProactiveCompliance #HiddenRisks 

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Your job can provide more than an income. When it comes to being approved for a home loan, certain roles can enjoy favourable treatment from lenders. Which jobs? Let’s take a look 🩺 👩🚒 👩🏫

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Interesting from the team at PX Partners. I have a suspicion some entities are value chain process mapping at a more detailed level than is really necessary - and spending more money than needed. If you are paying a law firm to do detailed process mapping - you might want to rethink that approach.

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Andrew Gregory, head of advice for the $135 billion profit-for-member fund UniSuper, is confident qualified advisers will complement the advice landscape and is “excited” about how they will sit in the fund’s business model. However, he is clear there needs to be well-defined guardrails over what advice is given and an effective way to triage into holistic advisers when the need arises. #financialservices #financialadvisers #financialplanning

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“Activity has slowed to a standstill in both Australia and New Zealand. Although output growth should gather momentum going forward, it will remain below its pre-pandemic average”. Download these highlights from our ANZ Economic Outlook to learn more about the growth and policy outlook for Australia and New Zealand. Get the free report today. https://lnkd.in/eHwc4B9w #australiaeconomy #newzealandeconomy #anzeconomy

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Financial Advice New Zealand acknowledges and welcomes the Financial Advice Provider Monitoring Insights report released by the Financial Markets Authority today. To echo the findings in the Financial Markets Authority report, there is a diverse range of financial advice businesses, delivery styles, and scope of advice, providing consumers with positive choice when seeking financial advice to help them achieve their financial future aspirations. “Great advice business, at their core, deliver great client experiences and we see that across the industry” says Nick Hakes. Read more: https://lnkd.in/gnMvBWFU

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Positive market for private commercial lending 📈benefits borrowers Recent analysis by Citi shows private credit in Australia has grown by 45% over the past five years, significantly outpacing traditional bank lending. This surge presents a major opportunity for those seeking commercial lending, with more funding options. - Banks are reducing exposure to commercial real estate, down to 5.5% from 10% in 2009 (Citi) - Private credit offers attractive double-digit gross returns (Citi) - Growing interest from ~2000 family offices now operating in Australia (KPMG) - There is an increased demand for bespoke lending solutions As banks tighten their lending criteria, private credit firms like Vestyn Capital are stepping in to fill the gap, offering tailored solutions. This shift is creating a "structural change" in the market, opening doors for innovative lenders. With the global private debt market swelling to over $1.5 trillion (Preqin data), are you positioned to capitalise on this trend?  Give us a call and let’s discuss how we can help you achieve your property financing journey: CiCi Chen | 0420 682 168 | [email protected] Ewen Cannon | 0487 279 895 | [email protected] Cassandra Thong | 0401 729 366 | [email protected] Logan Lee | 0455 429 331 | [email protected]

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Say Goodbye to Manual Errors in NDIS Fund Management! Tired of juggling spreadsheets and endless paperwork?? With ROTAWIZ, you can streamline your NDIS fund management and eliminate costly mistakes with ease! ✨ Automate your process, save time, and ensure accuracy—so you can focus on what truly matters. Visit us today at www.rotawiz.com.au and take the hassle out of fund management! #NDIS #FundManagement #NDISFunding #ROTAWIZ #NDISProviders #NoMoreErrors #DisabilitySupport #NDISCompliance #NDISProvidersAU #ShiftManagementAU #RosterManagement #ClientScheduling #WorkSmarter #WorkOptimization

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A strong month for the Fund despite the S&P/ASX Small Ordinaries Accumulation Index finishing down 0.05% in May. Small Caps underperformed Large Caps, with better sectors including IT, Financials Healthcare and Materials while Consumer Discretionary, Industrials and Energy all lagged. One thing that might lead to a rate cut later this year is the increasing nervousness of the consumer. The recent retail sales figures were poor and the consumer is now retreating into their shell. A couple of months of soft figures and we’ll be talking cuts again. The Flinders portfolio remains underweight consumer facing industries (such as retail) and remains overweight the industrial sector where we can see continued investment and growth. https://lnkd.in/g-6__x25

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⚡ ANZ-Roy Morgan Consumer Confidence jumps 5.9pts to 84.4 after Stage 3 tax cuts hit the bulk of consumer’s pockets; highest consumer confidence since January 2024: 1. ANZ-Roy Morgan Consumer Confidence has seen the largest weekly jump in over three years, reaching a six-month high. 2. Despite the significant increase, the index has been below 85 for a record 77 straight weeks. 3. Consumer Confidence is higher compared to the same time last year, with positive movement in most states except for Western Australia. 4. Australians are feeling more positive about their current and future financial situations, as well as short and medium-term economic outlook. 5. Buying intentions for major household items have improved, with more Australians considering it a good time to make purchases. This significant increase indicates growing optimism about personal finances and the broader economy. While positive, consumer confidence remains below long-term averages, suggesting caution persists among households.

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