The FAAA has called for any money paid to an SMSF via the Compensation Scheme of Last Resort to be limited to the fund and not multiplied by the number of members it contains.

A previous attempt by the government to name its proposed new class of adviser has left it cautious about trying again as it attempts to find an appropriate and acceptable title.

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.

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.

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.