Advisers should 'call out' misalignment in investment markets
Advisers all have financial benefit from promoting investments through an advice fee, or percentage of FUM. This is not a value judgement, simply a statement...
Life Insurance Framework review moved to Treasury
Towards the end of last year, ASIC began preparations to request relevant documentation from major dealer groups around life insurance advice. This year is a...
ASIC delivers certainty on consent and 'lack of independence' disclosure
The corporate regulator, ASIC, has continued its busy start to the year, releasing three legislative instruments this week stemming from the recommendations...
Performance test potential catalyst for advice renaissance
A key plank of the highly touted Your Future Your Super legislation is the ‘performance test’ that will apply to industry super funds and other My...
Advice regulator on the front foot to begin 2021
The financial services regulator ASIC has ramped-up its legislative activity in 2021, following a 2020 dominated by pandemic support and leniency. Commenting...
Industry unites against ASIC levy increase
This week the nation’s financial advisers received news that their annual registration fees, or “adviser levies.” would increase by the...
Advice complaints remain low despite 2020 increase
The Australian Financial Complaints Authority (AFCA) was established in 1 November 2018, combining the Financial Ombudsman Service, Credit and Investments...
Annual renewals bill passes both houses of Parliament
The Financial Sector Reform Bill (Hayne Royal Commission Response No. 2) Bill finally passed both houses of Parliament on Friday, as the professional standards...
PIMCO caught in fake bond scam
PIMCO Australia last night (February 22) warned advisers nationally that its name had been used in bond scams which ASIC uncovered in January. They are...
Affordable advice review offers an opportunity for change
Financial advice industry bodies including the SMSF Association (SMSFA), Association of Financial Advisers (AFA), and Financial Planning Association (FPA) have...
Adviser losses not reflective of industry progress
The beginning of 2020 has been dominated by headlines of mass adviser departures from the industry, with the number of registered advisers having fallen to...