News : financial advice

financial advice, Financial Planning, SMSF

Advised SMSFs increase as sector grows

The ongoing growth of the SMSF sector has been matched by the number of funds receiving advice, but a major cohort still does not receive any form of professional help.

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financial advice, Financial Planning

CSLR spends less than levy estimate

CSLR, levy, claims, financial advisers, Compensation Scheme of Last Resort, David Barry, Dixon Advisory and Superannuation Services

The slow rate of claims received by the CSLR means it will not use the full amount of levy collected from financial advisers.

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financial advice, Financial Planning

Advice fee deductibility guide issued

Financial advice fee, tax deductibility, guide, tax deduction, Financial Advice Association Australia, FAAA, Chartered Accountants Australia and New Zealand, CAANZ, CPA Australia, Institute of Public Accountants, ATO, Taxation Determination 2024/7, Sarah Abood, Phil Anderson

New joint guidance outlines three means by which advisers can calculate the apportionment of financial advice for tax purposes.

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financial advice, Financial Planning, Technology

AI adopted for basic advice tasks

AI, financial advisers, artificial intelligence, Investment Trends, Irene Guiamatsia, file notes, investment research, Edge Investment Partners, David Pritchard

The adoption of AI among financial advisers has begun noticeably, but the technology is only being used for tasks characterised as tedious.

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ASIC, Compliance, financial advice, Financial Planning

Adviser convicted for dishonesty

Financial adviser, superannuation, dishonest conduct, David Mario Valvo, Downing Centre District Court, Your Financial Freedom, ASIC, Wealthtrac

A former adviser who accessed clients’ superannuation accounts using false documents has been convicted of dishonest conduct and forced to repay his clients.

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Education, financial advice, Financial Planning

Advisers urged to update FAR details

Thousands of advisers are in danger of not being able to practice beyond 2025 as they have failed to update their education details on the FAR.

Thousands of advisers are in danger of not being able to practice beyond 2025 as they have failed to update their education details on the FAR.

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financial advice, Financial Planning, Technology

Advisers leaning into AI use

Australian financial advisers are using AI at higher rates than their international peers and considered it an effective tool for communication and reducing costs.

Australian financial advisers are making more use of AI at than their peers overseas and consider it effective for communication and reducing costs.

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financial advice, Financial Planning

All advice reforms require consultation

The SMSF Association has called for the government to release a complete package of advice reforms for consultation before their implementation.

The SMSF Association has called for the government to release a complete package of advice reforms for consultation before their implementation.

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financial advice, Financial Planning, Retirement

Retirement advice too complex for super funds

Financial Advice Association Australia, FAAA, Delivering Better Financial Outcome, DBFO, Treasury, retirement, financial advice, superannuation funds, simple advice, complex advice, collectively charged advice, intra-fund advice

Retirement planning guidance should not be provided by super funds as it is too complex to sit under a simple advice model and requires a qualified practitioner to deliver.

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financial advice, Financial Planning, Superannuation, Tax

Calls for reform greet govt return

Industry groups have responded to the re-election of the Albanese government by calling for advice and tax reforms to be introduced during its second term in power. 

Industry groups have responded to the re-election of the Albanese government by calling for advice and tax reforms to be introduced during its second term in power. 

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