News : Financial Planning

Education, Financial Planning

FASEA issues standards blueprint, instruments

The Financial Adviser Standards and Ethics Authority (FASEA) has released its revised standards framework for financial advisers, as well as two legislative instruments for work and training, or the professional year, and the provisional relevant provider expression.

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Accounting, Financial Planning, Regulation

Licensing framework fails to kick goals: report

The removal of the accountant’s exemption in 2016 has failed on the government’s objective of improving access to SMSF advice, with over 35 per cent of practices having no licence, according to a new study released today.

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Financial Planning

HNWI advice demand remains amid headwinds

A new industry report has found while the banking royal commission has well and truly dented consumer confidence and trust, high net worth individuals (HNWI) still see the benefit of financial advice.

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ASIC, Education, Financial Planning

ASIC releases responsible manager FASEA requirements

The Australian Securities and Investments Commission (ASIC) has begun consultation on increased competence requirements for advice licensees and their responsible managers to support the professional standards reforms in the financial advice industry. ASIC has proposed updates to “Regulatory Guide 105 Licensing: Organisational competence” (RG 105), including requiring responsible managers of advice licensees to pass the […]

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Accounting, Compliance, Financial Planning

Accountants given added SMSF advice warning

An audit expert has said unlicensed accountants must take even greater care when providing execution-only services to their clients in the midst of the banking royal commission as it still may be taken as advice.

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Education, Financial Planning

Advisers given FASEA preparation reminder

Online adviser portal Wealthdigital has underscored the need for financial planners to be well prepared for further postgraduate study requirements under the Financial Adviser Standards and Ethics Authority (FASEA).

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Accounting, Auditing, Financial Planning

Joint efforts required for SMSF trustee errors

An audit expert has said in order to tackle and reduce SMSF trustee mistakes, accountants and financial advisers must work together when seeing clients.

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Accounting, Financial Planning

Govt marks start of new complaints system

The federal government noted the commencement of the Australian Financial Complaints Authority (AFCA) today stating consumers and investors will benefit from increased access to redress.

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Financial Planning, Tax

Number of tax advisers increases

The Tax Practitioners Board (TPB) has revealed the registered tax practitioner population and public searches for registered tax agents are on the rise.

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Financial Planning, Platforms, Regulation

Franking credit plan to bring platform complexity

Advisers managing SMSF clients on platforms will need to consider the tax positioning of the platforms to assess the level of refunds clients can receive on their franking credits should Labor’s proposal become policy, a consultant has said.

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