News : Financial Planning

Compliance, Education, Financial Planning

KnowITdigital unveils study hub, partnerships

December 4, 2018

KnowITdigital has announced three additions to its wealthdigital online platform, including the areas of study and compliance.

FASEA issues foreign qualification guidance

November 29, 2018

Malavika Santhebennur

The Financial Adviser Standards and Ethics Authority (FASEA) today released its policy on foreign qualifications for financial advisers, outlining how new and existing advisers can qualify under the new education standards.

Limited licensees urged to register

November 27, 2018

Krystine Lumanta

The impending Financial Adviser Standards and Ethics Authority (FASEA) deadline has caused confusion among accountants with a limited licence, mainly that they will need to be on the adviser register.

New licensing framework recommended

November 26, 2018

Krystine Lumanta

The SMSF Association and industry bodies must work together to formulate a new licensing framework for advice practitioners within the context of the large unmet advice gap, an industry executive has said.

read more

Accounting, Financial Planning

Accountants risk losing trusted adviser title

November 26, 2018

Malavika Santhebennur

Accountants are jeopardising their role as the trusted adviser for SMSFs by not embracing the licensing regime following the removal of the accountant’s exemption and with financial planners becoming more willing to adapt to new education standards and other regulations.

FASEA exam appropriateness questioned

November 26, 2018

Darin Tyson-Chan

Concern among accountants continues to exist over the appropriateness of the bridging exam the Financial Adviser Standards and Ethics Authority (FASEA) has imposed on existing advisers with a relevant degree currently operating under a limited Australian financial services licence.

read more

Financial Planning, Superannuation

Reforms highlight super suitability

November 26, 2018

Darin Tyson-Chan

The super reforms have placed an emphasis on the extent of the role superannuation should play in an individual’s wealth-building strategy, highlighting an issue that should have been addressed when the last set of significant changes to the retirement savings system were implemented, a technical expert has said.

CAANZ pleased with FASEA requirements

November 26, 2018

Krystine Lumanta

Chartered Accountants Australia and New Zealand (CAANZ) today welcomed the release of the Financial Adviser Standards and Ethics Authority’s (FASEA) draft legislation for five out of the seven standards.

read more

Financial Planning, Superannuation

Advisers acknowledging younger SMSF cohort

November 22, 2018

Krystine Lumanta

Practitioners in the SMSF space are recognising the shift from older trustees to younger trustees and are working to gain an understanding of their specific needs, according to the SMSF Association.

Licensing regime a one-dimensional view on advice

November 21, 2018

Malavika Santhebennur

The limited licensing regime for accountants is proving to be too onerous and has failed to recognise financial advice is not a monolithic unit, according to new online marketplace and platform offering OpenInvest.

read more