News : Financial Planning

Unused concessional cap a reserve elimination tool

September 16, 2019

A technical expert has advised rules that allow individuals to carry forward their unused concessional contributions cap for five years if their total super balance is below $500,000 can help to get rid of SMSF reserves.

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Financial Planning

AMP planners receive legal action support

September 12, 2019

Darin Tyson-Chan

The legal action the AMPFPA has proposed against AMP on behalf of its members has received significant support, increasing its likelihood.

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Financial Planning, Regulation

AFA calls for grandfathered commissions transition

AFA grandfathered commissions transition

September 11, 2019

Tharshini Ashokan

Financial advisers need time and guidance to find solutions for affected clients before the 2021 deadline for ending grandfathered commissions, the AFA says.

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Financial Planning, Retirement

Advisers must provide specialist death benefits advice

September 10, 2019

Darin Tyson-Chan

An SMSF strategist has said the super reforms mean advisers need to provide better solutions for clients upon the death of a member.

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Financial Planning

Limited licence advice system has caused confusion

September 9, 2019

Darin Tyson-Chan

A call has been made by a partner in a large chartered accounting firm for the introduction of a better licensing system for SMSF advisers.

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Compliance, Financial Planning

Pre-emptive advice solutions required

September 4, 2019

Darin Tyson-Chan

A chartered accounting firm partner has called for greater proactivity from the financial planning industry in addressing poor compliance practices.

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Financial Planning, Regulation

SMSF advice review needed with ASIC, FASEA input

September 4, 2019

Tharshini Ashokan

The SMSFA has called for an inquiry into SMSF advice, with input from regulatory and professional bodies, to clarify its provision to trustees.

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Financial Planning, Superannuation

AFCA shares crucial SMSF switching advice elements

September 3, 2019

Darin Tyson-Chan

Financial planners have been made aware of the elements the Australian Financial Complaints Authority focuses on when examining disputes over SMSF switching advice.

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Financial Planning, Superannuation

Advisers still unclear on SMSF set-up

September 2, 2019

Jason Spits

Advisers are still uncertain as to what is considered advice when setting up a fund for a client, with trustee structures being a trap for the unaware.

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Financial Planning

Best interest duty a catch-all for adviser misconduct

August 29, 2019

Jason Spits

Best interest duty is being used as a new benchmark for adviser behaviour, but the term carries different meanings for advisers and consumers, according to a financial services lawyer.

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