News : financial advice

ASIC, financial advice

ASIC freezes SMSF adviser’s assets

ASIC Sunny Prakash SMSF Assets frozen

ASIC has frozen the assets of an SMSF adviser and auditor following concerns about activities in relation to the trading accounts of his clients.

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financial advice

Experience drain not biggest advice issue

industry experience financial advisers FAAA Financial Advice Association Australia

The reduction in the number of financial advisers with significant industry experience is not the most worrying trend affecting the sector.

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financial advice, Technology

FSC forms digital advice group

Financial Services Council Digital Advice Expert Group

The Financial Services Council has formed a new membership group to help promote the use of digital advice and form policies that support the reform of the sector.

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ASIC, financial advice, Regulation, Superannuation

ASIC to scrutinise super switching

Superannuation switching ASIC Referral arrangements Enforcement priority

Advice regarding the switching of superannuation membership from one fund to another is an area on which ASIC will be focused this year.

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Compliance, Education, financial advice

Adviser exam pass rate improves

ASIC Financial adviser exam

There has been a slight improvement in the number of candidates passing the most recent financial adviser exam overseen by ASIC.

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Education, financial advice

Improved new adviser pathway proposed

Joint Associations Working Group JAWG Financial advice New entrants Education pathway

The Joint Associations Working Group has proposed improvements to the pathway for new entrants to the advice sector, including specialist areas of study.

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Appointments, financial advice

FSC expands to include advice licensees

Financial Services Council Appointment Board of directors advice licensees membership

The FSC has expanded its membership to include financial advice providers, adding two licensee heads to its board of directors.

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financial advice, Retirement

Retirement funding vague for many

Colonial First State Retirement funding Financial advice ASFA

Many Australians have an inflated idea of what it will take for them to retire comfortably, yet few engage with their fund or advisers to seek help or advice.

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financial advice

Inquiry needed on Dixon compensation funding

Financial Advice Association Australia Compensation Scheme of Last Resort Dixon Advisory Sarah Abood

The FAAA has called for an inquiry as to why financial advisers will fund compensation claims against Dixon Advisory despite it closing two years before the industry recourse scheme started.

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financial advice, Superannuation

Super advice fee change urgent

Superannuation Financial advice Joint Associations Working Group JAWG Advice fees Trustees

A group of 12 industry bodies has called on the government to change the proposed process by which advice fees from super are approved, claiming it will add more cost and complexity.

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