News : Financial Planning

Financial Planning

Advice exit fees could counteract ASIC levy

exit fees ASIC levy

Exit fees should be imposed on banks and institutions moving out of advice to provide relief for advisers facing a sharp hike in the ASIC levy.

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Financial Planning

Inertia should not drive SMSF decisions

inertia smsf advice

Advisers need to ignore their own biases and inertia and that of clients when providing SMSF advice to ensure the latter are getting the best outcomes from their funds.

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Financial Planning, Investments

Cognitive bias needs recognition

cognitive bias SMSF strategy

The cognitive bias of trustees need to be considered, and incorporated where practical, within an SMSF investment strategy.

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FASEA, Financial Planning

Piecemeal advice makes FASEA code compliance easier

Piecemeal advice FASEA code

Practitioners may need to break the SMSF advice they provide into piecemeal segments that are more easily digestible to better ensure compliance with standard five of the Financial Adviser Standards and Ethics Authority (FASEA) Code of Ethics, a sector specialist has said. BT Financial Group head of financial literacy and advocacy Bryan Ashenden told delegates […]

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ASIC, Financial Planning

Industry bodies slam ASIC levy hike

ASIC levy increase

Australia’s peak financial services industry bodies have condemned the substantial increase in the levy charged to financial advisers and their licensees.

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Financial Planning

Client role key for advice

Client capacity SMSF advice

Practitioners need to understand whether they are advising the SMSF trustee or SMSF member to be most effective.

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Financial Planning

Doubt over who owns client relationship

owns client relationship

New legislation has cast doubt over whether an adviser or a service provider owns an existing client relationship.

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Financial Planning, Investments

Strategy focus must emphasise non-advice

SMSF investment strategies advice

SMSF practitioners have been given a prime opportunity to discuss investment strategies, but must emphasise the discussions are client driven and not advice.

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Estate Planning, Financial Planning, Succession Planning

Intergenerational relationships needed

intergenerational advice relationships

Intergenerational client relationships, instead of a focus on mature age clients, is critical for the future success of advisory practices.

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Financial Planning, Regulation

Regulation shakes confidence in scaled advice

Regulation scaled advice

The main barrier to advisers wanting to provide limited advice is a crisis of confidence brought on by the regulatory system, an industry expert says.

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