News : financial advice

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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financial advice, Insurance, SMSF

New PI insurance offering launched

Professional Indemnity Insurance Adviser Ratings Numerisk Financial advisers

A ratings agency and an insurance and risk advisory firm have joined forces to introduce a new professional indemnity insurance product for financial advisers.

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ATO, Compliance, financial advice, SMSF, Superannuation

Early release needs wider examination

SMSF Superannuation Illegal early release Early access CAANZ Chartered Accountants

The early release of superannuation should be addressed by looking at who is providing advice, but also reforming the rules to prevent inappropriate access.

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financial advice, Investments, SMSF

Role determines wholesale status

Wholesale client Retail client SMSF Financial advice

The wholesale client provisions are complex and advisers must determine the SMSF role an individual is acting in before using them.

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ASIC, financial advice

ASIC to review SMSF advice

ASIC SMSF establishment Financial advice Review Information Sheet 274

ASIC will conduct a review of SMSF advice with a particular focus on how advisers are meeting their obligations under guidance released in late 2022.

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