Professional Planner

Former Sequoia managing director Garry Crole The ASX-listed parent company of the beleaguered InterPrac financial advice licensee, Sequoia Financial Group, has posted an after-tax loss of $8.6 million for the 12 months ended June 30, and the company’s independent auditor has identified that a material uncertainty exists that “may cast significant doubt on the group’s ability to continue as a going concern”.

AI can support advisers rather than compete with them, according to a 2026 Netwealth IQ report that found digital tools and AI are automating repetitive tasks but also supporting deeper understanding, surfacing meaningful signals and introducing structures that improve the quality of decisions. According to Modern Advice Built on Legacy: Insights from the 2026 Netwealth Study Tour, advice firms don’t need to complete a widespread digital transformation before using AI.

Hugh Humphrey at the Professional Planner Licensee Summit in 2026. Changes to capital gains tax and reduced borrowing capacity for property under the federal government’s proposed superannuation tax changes are pushing younger Australians toward superannuation and, combined with big super funds’ growing public advocacy for financial advice, are creating what Count Group chief executive Hugh Humphrey calls “structural tailwinds” for licensees and advisers.

(L-R): Sarah Abood, Andrew Gregory and Alisdair Barr. The $175 billion profit-to-member super fund UniSuper has announced a pilot graduate program in partnership with Striver and the Financial Advice Association of Australia to offer a pathway for those interested in moving into financial services all the way into professional financial planning.

Phil Anderson When Phil Anderson steps down from his role as general manager of policy, advocacy and standards for the Financial Advice Association Australia later this year and contemplates retirement, he will leave a legacy of highly regarded technical and legislative expertise, and as a fierce advocate for financial advisers and their profession.

Daniel Shrimski Less than a third (32 per cent) of Australians consider financial advice a driver of retirement confidence, according to Vanguard’s How Australia Retires 2026 report, putting financial advice at the bottom of the list. Respondents were asked about factors that make them more and less confident in funding their retirement and what would increase that confidence.

More consumers are turning to AI for financial information and guidance, according to the Australian Securities and Investments Commission (ASIC), evidenced by a noticeable drop in traffic to the regulator’s Moneysmart website. Around 9.1 million Australians visited Moneysmart for information on superannuation, insurance and retirement planning in 2025-26, down from more than 11 million, according to ASIC’s 2026-27 Corporate Plan, released today.

ASIC will become “easier to deal with and harder to avoid” under the leadership of chair Sarah Court, who will on Wednesday tell the Centre for Economic Development of Australia that the regulator will act “at the right time” and address “the right risks” to build a more productive economy in an uncertain world.

The benefits of good advice go far beyond money management, and this is reflected in the evolving role of advisers, according to new research by Russell Investments. Professional Planner, in partnership with Russell Investments, assembled leading advice professionals to discuss the less visible, more intangible aspects of advice, such as reassurance, peace of mind and confidence, and how to accurately price for these outcomes.

Daniel Mulino. Photo: Jack Smith The world has changed. This is how Minister for Financial Services Daniel Mulino justified the government’s decision to renege on its commitment to allow financial advice licensees to participate in the new class of adviser regime ushered in by the second tranche of the Delivering Better Financial Outcomes (DBFO) reforms. The statement is not wrong.