News : Financial Planning

Financial Planning

SMSFA welcomes ASIC levy reduction

ASIC levy

The SMSF Association has welcomed the ASIC levy relief, saying it will give advisers much-needed certainty and breathing space.

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Financial Planning

Industry bodies welcome adviser levy reduction

adviser levy reduction

Major industry bodies have welcomed the government’s announcement of a temporary reduction in the ASIC adviser levy after concerns regarding unsustainable cost increases.

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Financial Planning

Advisers bullish on SMSF revenue

SMSF revenue

SMSF advisers believe revenue will grow from advising the sector, despite historical data showing there has been little change over the past seven years.

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Financial Planning, Superannuation

Westpac cops $10.5m best interests penalty

Westpac penalty

A five-year legal battle has ended with Westpac being penalised $10.5 million for providing unlicensed financial advice in relation to superannuation.

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Financial Planning, Investments

Advisers help prevent COVID market losses

advisers covid losses

Financial advisers helped investors avoid the worst losses of the COVID-19 induced market crash, adding more than 5 per cent to their portfolios.

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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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