News : financial advice

financial advice, Financial Planning

FAAA mulls new adviser support

Financial Advice Association Australia FAAA Sarah Abood New class of adviser Delivering Better Financial Outcomes Fiduciary duty

Financial Advice Association Australia members are split as to whether their industry body should support the proposed new class of advisers, but agree they should not be called that.

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Compliance, Documentation, financial advice

FSG requirement relief welcomed

Delivering Better Financial Outcomes DBFO Financial Advice Association Australia FAAA Phil Anderson financial services guide FSG relief

The peak financial planning industry body has endorsed ASIC’s recent relief that will reduce red tape and costs associated with providing financial advice.

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financial advice, SMSF

CSLR flags SMSF advice

SMSF advice Self-managed superannuation CSLR Compensation Scheme of Last Resort AFCA Australian Financial Complaints Authority claims

The Compensation Scheme of Last Resort has found more than 40 per cent of claims it has received so far relate to SMSF advice, noting some poor practices are still occurring.

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Compliance, Estate Planning, financial advice

Estate planning commitment needed

Estate planning BDBN Binding death benefit nomination SMSF Self-managed superannuation Accurium View Legal

If accountants and advisers are looking to provide estate planning services, they must be unwavering in their efforts to do so to mitigate legal risk.

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financial advice, Financial Planning, Technology

AI to free up client servicing

SMSF Self-managed superannuation administration SMSFAI Olivia Long artificial intelligence

Artificial intelligence will take over routine work in the SMSF space but practitioners should prioritise their focus on its client outcomes.

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financial advice, Financial Planning

Advice only for wealthy myth dispelled

FAAA Financial Advice Association Australia David Sharpe Financial advice Cost of advice Value of advice

The FAAA has released research that refutes claims financial advice is a service that only delivers benefits for wealthy Australians.

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financial advice, Financial Planning, Tax

ATO updates advice fee deduction rules

Financial advice fees Tax deduction ATO Tax determination FAAA Financial Advice Association of Australia Sarah Abood

The ATO has released new rules around the deductibility of financial advice fees, which should reduce the upfront cost of advice.

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financial advice, Regulation

Dixon parent company to delist

FAAA Dixon Advisory E&P Financial Group CSLR Compensation Scheme of Last Resort ASX

The parent company of Dixon Advisory has announced plans to move into private ownership, but this is unlikely to prevent public scrutiny during the inquiry into the collapse of the advice firm.

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financial advice, Retirement

Australians forgoing retirement advice

ASFA Retirement Advice

New research shows nearly half of Australian adults have not sought retirement planning information, with a significant gap between those trusting professional advice and those actually using it.

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financial advice, Regulation

Dixon Advisory inquiry to go ahead

Dixon Advisory Inquiry FAAA Financial Advice Association Australia

A public inquiry will be held into the collapse of Dixon Advisory after the FAAA secured support for the move in parliament.

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