News : Financial Planning

ASIC, FASEA, Financial Planning

Individual adviser oversight still unclear

advisers oversight

ASIC is still unsure whether it will have oversight over individual advisers from 2022, stating its authority only covered licensees under current legislation.

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FASEA, Financial Planning

Test ethical judgments through questioning

financial advisers professional judgement

Financial advisers can show their professional judgement is also ethical by viewing their actions from the point of view of an impartial third-party.

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Financial Planning, Regulation

ASIC unveils new dispute framework

internal dispute resolution

Financial advisers will fall under a new internal dispute resolution system from late 2020 that requires quick, but detailed, responses to complaints.

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Financial Planning

Specialist advice needed more than ever

specialist SMSF advice

The SMSF Association has stated there has never been a more critical time for trustees to receive specialist SMSF financial advice.

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Financial Planning

AMP advisers begin BOLR class action

AMP BOLR

AMP advisers have started an open class action against their licensee after the latter changed the terms of a buyer-of-last-resort arrangement.

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Financial Planning, Retirement

Cheap advice a must for retirement system

financial advice retirement system

Low-cost, mass-market financial advice must be available to those facing retirement and should be built into Australia’s retirement savings system.

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Accounting, Financial Planning

Licensing forces industry to rethink roles

licensing accountants advisers

AFS licensing requirements will push more advisers to specialise over time, allowing accountants to take on the role of the generalist for the SMSF sector.

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Financial Planning

Advice curbs COVID-19 financial worries

COVID-19 advice

Australians who seek financial advice are less concerned with the financial impact of COVID-19 compared to those who don’t seek advice, a survey has shown.

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Financial Planning

Tech stacks not meeting adviser needs

Technology stacks

Financial planners are relying on their technology stack in greater numbers in order to engage with clients, but many believe their platform and advice software needs are not being met, research has revealed.

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Financial Planning

Reform has pushed away advisers and clients

financial advice reform

The costs of reform have caused practitioners and consumers to abandon the financial advice sector according to two representative bodies.

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