SOA much more to advice than just the statement
“Everyone has a plan until they get punched in the face.” While not known for his financial advice, Mike Tyson’s famous quote likely resonates with those...
Like Melbourne weather, adviser education standards change again
Not happy with the government's settings on adviser education standards? Well, wait five minutes and they'll change. Is the latest change a return to the bad...
Good roadmap needed for updated AML law
In September last year, the Australian government fixed a glaring anomaly in the country’s laws, under which Australia had embarrassingly fallen short of...
FAAA slams 'almighty go-slow' on CSLR/Dixons inquiry
While the second tranche of DBFO reforms remain stuck in parliamentary mud, an inquiry into the CSLR design and Dixons Advisory scandal is already falling...
Regulatory pendulum has 'swung too far': FSC
As a result of reform failures, the industry and its consumers are now enduring the "costly overhang" of poor regulatory design and regulation, the council...
Advice reform and tax 'razor gang' lead FSC's economic growth agenda
While the council's plan for broad tax reform will grab headlines, its three recommendations for the advice industry have the potential to radically uplift the...
'But for' compensation stoush brews between the FAAA and AFCA
AFCA stands by the use of its "But for" methodology to calculate compensation payments, despite the FAAA's protestations. Clients will get paid what they lost,...
New class of advisers limited to prudentially regulated products: Jones
Most of what Jones announced was already known, including a new class of advice. But a few key elements – related to adviser education, product limitations...
Shield Master Fund investigation has ASIC worried about adviser 'professional judgement'
"I wish I could say this is an isolated example," Kirkland said, explaining the regulator's concern about a small cohort of advisers who transfer client funds...
‘So much wrong’ with CSLR, but Treasury not inclined to act
The industry has little chance of fighting through the legislative backlog and getting immediate wholesale change made to the ill-designed CSLR. There are...
What advisers want the new class of advisers to look like
The likely advent of a new class of 'simple' advice providers will reshape the industry ecosystem. According to FAAA members, there are four key issues that...