News : Financial Planning

Accounting, Financial Planning, Regulation

New licensing framework recommended

FASEA adviser exam results

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.

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Accounting, Financial Planning

Accountants risk losing trusted adviser title

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.

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Accounting, Education, Financial Planning

FASEA exam appropriateness questioned

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.

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Financial Planning, Superannuation

Reforms highlight super suitability

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.

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Accounting, Education, Financial Planning

CAANZ pleased with FASEA requirements

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.

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Financial Planning, Superannuation

Advisers acknowledging younger SMSF cohort

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.

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Accounting, Financial Planning, Investments

Licensing regime a one-dimensional view on advice

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.

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Education, Financial Planning

FASEA publishes two new legislative instruments

The Financial Adviser Standards and Ethics Authority (FASEA) has issued two additional legislative instruments for consultation, with one covering the relevant providers degrees, qualifications and courses standard.

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Accounting, Education, Financial Planning

FASEA lacks limited licensee details

The latest round of legislative instruments and the updated standard blueprint from the Financial Adviser Standards and Ethics Authority (FASEA) provide little to no help to those providing SMSF advice under limited licences, according to wealthdigital.

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Education, Financial Planning

FASEA implementation for existing advisers unclear

The SMSF Association has expressed strong concerns about how the new education and ethical standards will apply to existing financial advisers following the release of a revised standards framework by the Financial Adviser Standards and Ethics Authority (FASEA).

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