News : financial advice

financial advice, Legislation

FAAA critical of DBFO proposals

The FAAA has called the next round of proposed DBFO changes disappointing given the time the government has had to work on the measures.

The FAAA has called the next round of proposed DBFO changes disappointing given the time the government has had to work on the measures.

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financial advice, Financial Planning, Legislation

SOAs to go under further DBFO reform

Delivering Better Financial Outcomes, DBFO, Stephen Jones, Treasury, Federal Election, Parliament, Client Advice Record, 

The statement of advice may soon be replaced with a client advice record under the next stage of the government’s advice reform package.

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financial advice, Financial Planning, Retirement

Advice can offset retiree stress

Many Australians are concerned about their finances in retirement, but access to advice is available to many of them and they should seek it as soon as possible.

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financial advice, Pensions, Property, Retirement, SMSF, Superannuation

Debt-free retirement an advice opportunity

Financial advice to reduce mortgage advice will become increasingly crucial as more people carry debt into retirement.

Financial advice to reduce mortgage advice will become increasingly crucial as more people carry debt into retirement.

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financial advice, Investments, Property, SMSF, Superannuation

SMSFs stick with cash despite rate moves

RBA, ATO, Reserve Bank of Australia, Vado Private, Simon Arraj, SMSF assets, share market, credit,

SMSFs are holding onto cash despite a recent decline in term deposit and savings rates, which should prompt them to consider other sources of income.

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financial advice, Trusts

Reconsider wholesale client status

SMSF advisers should view all trustee clients as retail until they can show they have the assets to meet the upper limits of the wholesale investor test.

SMSF advisers should view all trustee clients as retail until they can show they have the assets to meet the upper limits of the wholesale investor test.

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Death benefits, financial advice, SMSF

Ambiguous BDBNs need legal specialists

Binding Death Benefit Nomination, BDBN, Cooper Grace Ward Lawyers, Hayley Mitchell, SMSF Association National Conference 2025,

Advisers must self-evaluate their capability to negotiate problems with BDBNs they create and if unsure delegate that work to legal specialists.

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Business News, financial advice

IFPA strikes alliance with AIOFP

Two bodies representing advice practitioners have announced an alliance with plans to share ongoing education and lobbying efforts.

Two bodies representing advice practitioners have announced an alliance with plans to share ongoing education and lobbying efforts.

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Compliance, financial advice, SMSF

Unlawful acts an industry-wide issue

Instances of illegal acts involving SMSFs must be treated as issues for the financial services industry as a whole to address and not sector-specific problems.

Instances of illegal acts involving SMSFs must be treated as issues for the financial services industry as a whole to address and not sector-specific problems.

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financial advice, Financial Planning, Tax

Trustees obliged to approve advice payments

SMSF trustees, financial advice, superannuation, tax, IPFA, Institute of Financial Professional Australia, Natasha Panagis,Treasury Laws Amendment (Delivering Better Financial Outcomes and Other Measures) Bill 2024, financial advice fees, tax deduction, ATO, draft practical compliance guideline

Trustees should be reminded advice fees can now be charged back to an SMSF, but they will need to examine and sign off each time a member requests this type of payment.

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