News : Financial Planning

Compliance, Financial Planning

Industry united against compensation scheme

CSLR financial advice

A compensation scheme of last resort (CSLR) will result in a less affordable advice industry, according to a raft of industry associations that stand opposed to the government’s draft model.

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Financial Planning, Regulation

Disciplinary body processes open for feedback

adviser disciplinary body

The operations of the adviser disciplinary body are open for industry comment as the government moves to finalise its shape before the end of the year.

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Financial Planning, Superannuation

Advice to overseas clients may be restricted

SMSF client overseas advice

SMSF clients living overseas may find they cannot receive advice from Australia or set up alternative structures to manage their interests despite recent changes announced in the budget.

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ASIC, Financial Planning

Advice sector carrying compliance cost burden

financial advice costs

The financial advice sector is carrying a significant proportion of industry compliance costs when compared with its size and the level of complaints directed against it.

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Appointments, Financial Planning

FPA CEO to stand down

FPA chief executive

FPA chief executive Dante De Gori has announced his intention to step down from his position at the end of 2021 after 12 years with the association.

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Appointments, Financial Planning

AFA names new chief executive

AFA chief executive

The AFA has announced the appointment of a new chief executive following Philip Kewin’s decision to step down in March.

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Financial Planning

AMP fee model ends BOLR, client ownership

AMP fee BOLR

AMP will end its buyer-of-last-resort arrangements with advisers and hand over ownership of clients as part of a new fee model to start in 2022.

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AFCA, Financial Planning

Compo scheme to cost advisers $300 a year

compensation scheme advisers

Financial advisers are set to be charged nearly $300 a year under plans to introduce a compensation scheme of last resort.

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Financial Planning

Trustees more open to advice

SMSF trustees financial advice

SMSF trustees have become more open to receiving financial advice after COVID-19, an online industry survey has shown.

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ASIC, Financial Planning

Record response will direct ASIC advice action

ASIC financial advice

ASIC has committed to taking steps to make the provision of limited advice easier after receiving a high level of responses from practitioners on the issue.

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