- Hillross Names Top Achievers
- Inquiry Into Default Superannuation Selection
- Gender Inequality Still an Issue for Australian Finance Industry
Hillross Names Top Achievers
Hillross has named its 2011 Adviser and Firm of the Year. Jonathan Kilborn, a senior financial adviser at Arrive Wealth Management in Sydney was named Hillross’s adviser of the year, while the Brisbane Arrive Wealth Management practice was awarded firm of the year.
This is the second consecutive year that Arrive Wealth Management SEQ has achieved the honour, with Hillross Managing Director, Hugh Humphrey, saying the firm has set the bar high for customer service.
Mr Humphrey also acknowledged Mr Kilborn’s ability to look out for the client’s best interests and challenge the way things are done.
The awards are open to financial advisers across the Hillross network, where the winners are determined by an expert panel of industry representatives, including FPA CEO, Mark Rantall.
Inquiry into Default Superannuation Selection
Minister for Financial Services and Superannuation, Bill Shorten, has announced that the Productivity Commission will conduct an inquiry into the selection of default superannuation funds in modern awards.
Awards currently determine the default fund that applies to the relevant industry. The inquiry will assess the processes by which a fund is selected and seek to develop transparent and objective selection criteria to ensure the best interests of members are met.
A list of possible selection criteria was published with the announcement for consideration by the Commission, including the suitability and cost of insurance provided by the fund.
The inquiry is expected to begin in early February 2012 and run for up to eight months.
Gender Inequality Still an Issue for Australian Finance Industry
Over half of Australia’s finance professionals believe that gender influences a person’s remuneration.
eFinancialCareers has published the results of a survey which found that 40% of people working in the finance industry believe being male makes it easier to succeed. Similarly, over a third of respondents (36%) said they sensed a gender bias in the recruitment process.
“Gender discrimination is a universal and complex issue which is not confined to just Australia, and financial institutions should promote gender diversity programmes to tackle this issue,” said George McFerran, Head of Asia Pacific for eFinancialCareers.
“Clearly more needs to be done to reduce gender inequality in Australian financial services firms. Increasing the provision of childcare support is much needed, alongside more companies offering flexibility in working conditions and scheduling. Implementing such policies not only reduces inequality between men and women, it also enhances the reputation of the firm. More firms need to be bolder in this regard,” added Mr McFerran.
