ASIC’s decision to make providing financial advice easier from a compliance perspective in the wake of the coronavirus pandemic was made in collaboration with five industry bodies.

More than 75 per cent of financial advisers expect the economic impact of COVID-19 to result in long-term demand for financial advice, a survey has revealed.

Financial advisers should be ramping up their communication with clients and reassessing portfolios during this time of economic uncertainty, a senior advice executive has said.

The market impact of the coronavirus outbreak and the latest RBA rate cut has heightened the need for specialist SMSF advice, the SMSF Association says.

Ongoing reforms from the Hayne royal commission will increase the cost of advice and reduce the time in which financial planners can provide it, according to the FPA.