News : financial advice

Most trustees unaware of QAR

June 8, 2023

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.

read more

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.

read more

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.

read more

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.

No sunset clause for experienced pathway

May 30, 2023

Jason Spits

The government will not introduce a 10-year sunset clause into its experienced pathway bill, citing the need to keep experienced advisers in the system.

AMP restructures its wealth arm

May 29, 2023

Darin Tyson-Chan

The role of AMP Australian wealth management chief executive has been made redundant as part of an organisational restructure.

read more

Business News, financial advice

FSC appoints Power to board

May 23, 2023

Todd Wills

The Financial Services Council has added an experienced financial executive to its board of directors.

Drop separate labelling of advisers

May 22, 2023

Jason Spits

The labelling of advisers based on their education pathway is confusing for consumers and should be relegated to advice documents and marketing material.

read more

financial advice

Digital advice requires human element

May 22, 2023

Jason Spits

The definition of digital advice should also include the involvement of humans and the development of hybrid models rather than purely technology driven services.

read more