News : financial advice

Adviser exam pass rate static

June 19, 2023

The number of advisers passing the most recent mandatory exam overseen by ASIC has remained on par with the previous sitting, with around two-thirds being successful.

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financial advice, Regulation

QAR accountants exclusion highlighted again

June 15, 2023

Jason Spits

The Quality of Advice Review recommendations and the government’s acceptance of them have overlooked the role accountants have in providing financial advice.

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Education, financial advice, SMSF

Peer experiences sought by trustees

June 14, 2023

Darin Tyson-Chan

The past experience of their peers is what SMSF trustees looking to seek financial advice in the next 12 months want to learn from practitioners.

Jones accepts majority of QAR proposals

June 13, 2023

Jason Spits

The government will accept many of the recommendations of the Quality of Advice Review, but has reserved its position on how some of them will be enacted.

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financial advice

Govt praised for QAR stance

June 13, 2023

Jason Spits

The financial advice sector has welcomed the government’s announcement it would adopt Quality of Advice Review recommendations that cut red tape in the advice process.

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financial advice, SMSF

Most trustees unaware of QAR

June 8, 2023

Darin Tyson-Chan

Over half of SMSF trustees recently surveyed have indicated they have no awareness Michelle Levy’s Quality of Advice Review took place.

Wholesale advice must be exclusive

June 6, 2023

Darin Tyson-Chan

Practitioners must ensure they are not exposed to the compliance requirements for retail clients if they are purely servicing wholesale investors.

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financial advice, Regulation

Rule of thumb can clarify QAR framework

June 1, 2023

Darin Tyson-Chan

Under the framework recommended by the Quality of Advice Review there is a rule of thumb practitioners can use to ensure they adhere to the law.

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ASIC, Compliance, financial advice

Adviser registration date pushed back again

May 31, 2023

Jason Spits

ASIC has extended the date by which financial advisers must be registered with the regulator by a further three months, with the new date set for October.

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financial advice, Regulation, SMSF

SMSFs ‘misfits’ under Corporations Act

May 30, 2023

Todd Wills

A statutory body has highlighted the challenges in classifying SMSFs under the Corporations Act, leading to uncertainties about advice, licensing and client classification.

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