News : financial advice

financial advice, Legislation, Superannuation

QAR measures tabled in parliament

Quality of Advice Review Treasury Laws Amendment Bill Stephen Jones Financial advice fees Superannuation Financial Services Council Financial Advice Association Australia

A bill to implement the first tranche of recommendations from the Quality of Advice Review has been introduced into parliament.

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financial advice, Legislation

CSLR levy cost will pass to consumers

Financial advisers Compensation Scheme of Last Resort Funding

The costs imposed upon advisers to fund the compensation scheme of last resort conflict with the government’s aim to make financial advice more affordable and will be borne by consumers.

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financial advice

Retrospective CSLR is counter to QAR

SMSF Association Quality of Advice Review adviser levy compensation scheme of last resort CLSR

The addition of a retrospective compensation scheme levy with a high ASIC industry supervision fee will add further strain on the advice sector.

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financial advice, Regulation

CSLR adviser levy exceeds $18 million

FAAA Compensation Scheme of Last Resort Levy Funding Financial advisers

The compensation scheme of last resort has unveiled its levy funding estimates, prompting concern from one industry body over the costs imposed on the financial advice sector.

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financial advice, Investments, SMSF

Markets spur SMSF advice

Investments SMSF Financial advisers Trading Ausiex

The changing nature of financial markets last year saw an increase in new advised SMSFs across all age demographics, with these funds being active traders.

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Business News, financial advice

New level of IFPA membership on offer

IFPA Membership Pippa McKee

Members of the Institute of Financial Professionals Australia are now able to access a premium level of membership that has just been launched.

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financial advice, Tax

Industry seeks clarity on fee deductibility

financial advice fees FAAA ITAA TD 2023/D4 ATO tax deduction tax deductibility

A group of industry bodies has urged the ATO to provide further details on the tax deductibility of financial advice given to clients on pre-existing investments.

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ATO, Compliance, financial advice

ATO recovers $30m in tax from advisers

ATO ATO tax avoidance taskforce adviser strategy Financial advisers Tax liabilities

An ATO project set up under the auspices of the Tax Avoidance Taskforce has recouped almost $30 million in overdue liabilities from advisers and advisory firms.

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Compliance, financial advice, Retirement, SMSF

Be clear on conflicted SMSF advice

SMSF conflict of interest related entity DBA AFCA

A recent case before AFCA has highlighted the need for SMSF advisers to keep clear records about investment advice particularly where conflicts of interest may be involved.

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financial advice

Advice seen as valuable but costly

Financial advice Cost Investment Trends Irene Guiamatsia

Consumers regard financial advice as useful, but many still baulk at the cost, seeing it as too high for their needs.

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