News : financial advice

ASIC, FASEA, financial advice, Legislation

Adviser exam pushed back

ASIC Financial adviser exam

The first ASIC adviser exam of 2024 will be pushed back by more than a month as the regulator implements changes to its content and eligibility criteria.

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financial advice, Legislation, SMSFA

SMSFA seeking clarity over adviser class

SMSFA Qualified advisers Quality of Advice Review Accountants

An industry body has called for further details regarding the implementation of the final recommendations of the Quality of Advice Review.

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Downsizer, financial advice, Property, SMSF

Property, tax lead new year concerns

SMSF Business property Downsizer contributions tax Financial advice LRBA

The use of business property inside an SMSF and downsizing the family home will be key issues for advisers and clients next year due to cost-of-living pressures.

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financial advice, Financial Planning

Fee consent form sign-off unnecessary

FAAA advice fee consent form sign-off

The FAAA has called for an end to financial product providers verifying fee consent forms provided by an adviser who has already gained their client’s consent.

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Education, financial advice

Govt considers adviser exam changes

Financial adviser exam changes Treasury draft legislation

Treasury has introduced draft legislation to streamline the delivery of the financial adviser exam, making minor changes to the questions asked and the timing of when a candidate can sit it.

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Compliance, financial advice

Set-up advice leads to banning

FSCP Financial adviser banned SMSF ASIC

A financial adviser has been slugged with a registration ban by a panel of peers for acting inappropriately when providing advice to a client on the suitability of establishing an SMSF.

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financial advice, Financial Planning

New adviser class insulting to sector

Financial advice qualified advisers Stephen Jones QAR IFPA

A proposal to create a new class of financial adviser is an insult to those who have attained high-level qualifications and the government should reconsider its plan.

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financial advice, Financial Planning

Govt to create new advice class

Quality of Advice Review QAR financial advice qualified advisers Stephen Jones Angus Taylor

In an effort to meet the need for financial advice, the government will allow financial institutions to provide it through in-house advisers with lower education standards than those in the current advice regime.

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financial advice, Legislation

Mixed reception to govt advice plan

Quality of advice review Qualified advisers financial advice Stephen Jones

The industry has praised the government for proposing to implement outstanding QAR recommendations, although there are concerns about the quality of the advice that may be provided.

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Auditing, financial advice, Residential Property

No special action for related-party leases

SMSF residential property related party lease rental agreement

Rental arrangements for SMSF properties involving related parties need not be managed any differently to commercial lease agreements.

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