News : financial advice

financial advice, Financial Planning

Industry cautious over new adviser class

The financial services sector has generally welcomed the scope and operation of the new-class-of-adviser measure, but will require more information before endorsing the change.

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financial advice, Financial Planning

Accountants overlooked in new advice model

The details of how the new class of adviser will operate have been released by the government, but the role of accountants in this area has again been ignored.

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ASIC, financial advice, Financial Planning

ASIC examining telemarketer-sourced clients

ASIC has raised concerns about the poor practices of advisers sourcing clients from telemarketers for the purpose of encouraging them to roll over their super to invest in risky asset classes.

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financial advice, Financial Planning

AMP completes advice exit

AMP has stepped away from the provision of financial advice, announcing the completion of the sale of its licensees to two separate entities, a move that comes at a significant loss.

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financial advice, Financial Planning

Member success leads new FAAA strategy

The future strategic direction of the Financial Advice Association Australia until 2030 has been released at the body’s annual conference, with members given top priority within its framework.

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Compliance, financial advice, Insurance

Seek legal advice on injury contribution

Self-managed superannuation SMSF personal injury settlement settlement compensation superannuation contribution BT Financial Group Tim Howard

Practitioners advising SMSF members on using personal injury settlements for super contributions should ensure the payments meet key eligibility criteria.

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financial advice

Demand for advice specialists grows

Financial advisers Specialists

The provision of financial advice has become increasingly complex due to the diverse needs of clients and a shortage of specialist practitioners working in the industry.

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ASIC, financial advice

Case against Dixon director dismissed

Dixon Advisory and Superannuation Services E&P Operations insolvency ASIC Paul Ryan Federal Court

A case brought by ASIC against a Dixon Advisory director alleging a breach of duties in regards to decisions about the insolvency of the advice group has been dismissed.

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financial advice, Tax

Treat Div 296 as blank slate with client

SMSF Self-managed superannuation Division 296 tax $3 million Financial advice Deloitte Liz Westover The Tax Institute

SMSF practitioners should tell clients to forget what they know about the Division 296 tax as many are concerned about misconceptions and help them reset their understanding of the measure.

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financial advice, Legislation

Limit new advice class to existing products

Delivering better outcomes Financial adviser Scope of advice Advice reforms

The government’s proposed new class of advisers should operate under a very limited scope and only be authorised to speak about products already held by a consumer.

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