News

Financial Planning

Emphasis on value to intensify

value of advice

Being able to demonstrate the value of advice is set to become more important as a result of technological advancements.

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ASIC, Financial Planning

ASIC extends COVID-19 advice relief

ASIC COVID advice relief

Financial advisers will be able to use records of advice for COVID-19-related matters with existing clients for another six months following an extension by ASIC.

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Practice Management

New business sources at practitioners’ door

business sources practitioners

Financial advisers and accountants have seven sources of new business already available to them that can be used immediately, a practice management consultant has claimed.

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Financial Planning, Technology

Technology to transition to new advice role

technology financial advice

Technology is destined to play a more significant role in the delivery and affordability of financial advice.

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Tax

Delayed allocations not Part IVA

superannuation contributions Part IVA

The use of contributions reserves has a very low probability of having the ATO consider it a tax avoidance arrangement.

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Strategy

Deathbed payments create advice opportunity

Deathbed payments

SMSF practitioners should be looking at how they can assist clients with deathbed payments as many struggle with the complex issues involved.

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ETFs

Criticism of ETFs skewing markets rebuffed

criticism ETFs skewing

ETFs did not skew market movements during the 2020 share market dip, but created transparency and accessibility to trade for investors.

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Superannuation, Tax

Greater tax benefit focus needed

SMSF tax minimisation

Advisers and accountants need to pay more attention to tax minimisation strategies for their SMSF clients.

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Investments, Strategy

Investment strategy has no restrictions

Investment strategy restrictions

Trustees are free to add any asset they wish to their investment strategy as that document has no restrictions on it, but they should still factor in external controls.

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ASIC, Superannuation

Two unlicensed operations shut down

unlicensed financial services

Federal Court orders to have two unlicensed financial services companies wound up have been obtained by ASIC.

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