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Levy's advice proposals get heavy hitting advocacy lift

The Financial Services Council and its provider members are putting their weight behind the advice review leader's suite of reforms as the December 16 delivery...

Next gen platforms surge while adviser FUA doubles

Netwealth and HUB24 are expected to continue eating the incumbents' lunch, according to UBS. Meanwhile, as adviser numbers have halved the average amount of...

ASIC 'neutral' on SOA format, video statements good to go

The Corporations Act is "technology neutral" according to ASIC, so video SOAs are acceptable as long as they include the eight or so standard compliance...

Good advice foundation to shift from 'reasonable benefits' to 'fit for purpose': Levy

Review leader Michelle Levy said the proposals need to look at the "full universe" of providers. If 'good advice' is to replace best interests duty while also...

ASX drops plan to replace CHESS with blockchain, writes off $250M

The long-running project has been shelved after a devastating Accenture report cited multiple areas of concern. ASIC chair Joe Longo said the ASX "failed to...

The great pending advice transaction

Transaction has become a dirty word in financial services yet trust and strong professional relationships can be built on regular transactions over time,...

'The destination is what's important': FPA/AFA chart next stage of merger plan

The draft documents to be handed out in December will contain information members can use to assess whether a union between the two groups is the best way...

Advisers, is this our Kodak moment?

The rise of digital photography at the turn of the 21st century basically spelled the end of Kodak. Similarly, the rise of digital advice is the death knell...

Leaders sound consolidated alarm on the rise of consumer harm in financial services

The financial services minister is looking at tackling scammers at the source: "Does our barista down the corner really need my email address, my bank details,...

Are we there yet? Inflation and interest rates likely to keep rising: Sage Capital

Central banks are likely to continue inflating interest rates around the world, with the US federal reserve at the vanguard. Be wary of thinking markets have...

SMEs persist with advice subsidy push to new government

It was a COVID-inspired idea that fell foul of the electoral cycle, but the nation's small business advisory peak bodies continue to push for subsidised advice...

Experience pathway to perpetuate poor advice industry image: FPA

Implementing the current proposal for 'experienced' advisers to skip the relevant degree mandate will do far more harm than good, the association argues, with...

Ausbil gets active on dividend management with income-seeking investment play

The team at Ausbil have come up with a novel way to generate income without increasing risk or removing alpha generating opportunities.

Praemium CEO open for consolidation talks with an aim on growing scale

Anthony Wamsteker reflects on the tie-up with rival platform Powerwrap, the rebuff of Netwealth, and Praemium's plan to achieve double digit market share.