News : Financial Planning

financial advice, Financial Planning, SMSF

Advised SMSFs increase as sector grows

May 28, 2025

The ongoing growth of the SMSF sector has been matched by the number of funds receiving advice, but a major cohort still does not receive any form of professional help.

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financial advice, Financial Planning

CSLR spends less than levy estimate

CSLR, levy, claims, financial advisers, Compensation Scheme of Last Resort, David Barry, Dixon Advisory and Superannuation Services

May 27, 2025

Jason Spits

The slow rate of claims received by the CSLR means it will not use the full amount of levy collected from financial advisers.

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financial advice, Financial Planning

Advice fee deductibility guide issued

Financial advice fee, tax deductibility, guide, tax deduction, Financial Advice Association Australia, FAAA, Chartered Accountants Australia and New Zealand, CAANZ, CPA Australia, Institute of Public Accountants, ATO, Taxation Determination 2024/7, Sarah Abood, Phil Anderson

May 26, 2025

Penny Pryor

New joint guidance outlines three means by which advisers can calculate the apportionment of financial advice for tax purposes.

AI adopted for basic advice tasks

AI, financial advisers, artificial intelligence, Investment Trends, Irene Guiamatsia, file notes, investment research, Edge Investment Partners, David Pritchard

May 20, 2025

Darin Tyson-Chan

The adoption of AI among financial advisers has begun noticeably, but the technology is only being used for tasks characterised as tedious.

Adviser convicted for dishonesty

Financial adviser, superannuation, dishonest conduct, David Mario Valvo, Downing Centre District Court, Your Financial Freedom, ASIC, Wealthtrac

May 19, 2025

Jason Spits

A former adviser who accessed clients’ superannuation accounts using false documents has been convicted of dishonest conduct and forced to repay his clients.

Advisers urged to update FAR details

Thousands of advisers are in danger of not being able to practice beyond 2025 as they have failed to update their education details on the FAR.

May 15, 2025

Lara Caughey

Thousands of advisers are in danger of not being able to practice beyond 2025 as they have failed to update their education details on the FAR.

Advisers leaning into AI use

Australian financial advisers are using AI at higher rates than their international peers and considered it an effective tool for communication and reducing costs.

May 14, 2025

Lara Caughey

Australian financial advisers are making more use of AI at than their peers overseas and consider it effective for communication and reducing costs.

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financial advice, Financial Planning

All advice reforms require consultation

The SMSF Association has called for the government to release a complete package of advice reforms for consultation before their implementation.

May 12, 2025

Lara Caughey

The SMSF Association has called for the government to release a complete package of advice reforms for consultation before their implementation.

Retirement advice too complex for super funds

Financial Advice Association Australia, FAAA, Delivering Better Financial Outcome, DBFO, Treasury, retirement, financial advice, superannuation funds, simple advice, complex advice, collectively charged advice, intra-fund advice

May 7, 2025

Lara Caughey

Retirement planning guidance should not be provided by super funds as it is too complex to sit under a simple advice model and requires a qualified practitioner to deliver.

Calls for reform greet govt return

Industry groups have responded to the re-election of the Albanese government by calling for advice and tax reforms to be introduced during its second term in power.

May 6, 2025

Lara Caughey

Industry groups have responded to the re-election of the Albanese government by calling for advice and tax reforms to be introduced during its second term in power.

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