News : Financial Planning

ASIC, Financial Planning

ASIC halts ongoing fees at CBA advice firm

ASIC has ordered Commonwealth Financial Planning to stop charging advice service fees after it failed to resolve some issues related to fees for no service.

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Financial Planning, Regulation

SMSF advisers add to rise in planner numbers

The number of advisers increased rapidly in late 2018, driven partly by SMSF advice providers registering before the imposition of new education standards.

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Education, Financial Planning

FASEA finalises foreign qualifications process

Advice providers with foreign qualifications have been given certainty on how their training will be assessed by FASEA, which will consider key knowledge areas and regulatory and legal obligations.

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Financial Planning

Family and friends remain trusted advisers

Around 6 million domestic consumers seek advice about money and investments from family and friends rather than professional financial planners, while 3.5 million Australians are asked for financial advice, according to Roy Morgan.

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Accounting, Education, Financial Planning

FASEA confirms relevant degree standards

The Financial Adviser Standards and Ethics Authority (FASEA) has registered the legislative instrument for relevant provider degrees, qualifications and courses.

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Education, Financial Planning

FASEA issues final CPD instrument

Financial advisers will need to complete 40 hours of continuing professional development (CPD) each year, of which 70 per cent will need to be approved by the licensee, including four hours of professional reading, according to the education standards authority.

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Education, Financial Planning

FASEA delivers professional year titles

The Financial Adviser Standards and Ethics Authority (FASEA) has determined financial advisers undertaking work and training requirements as part of their professional year will be known as “provisional financial planners” or “provisional financial advisers”.

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Education, Financial Planning

FASEA confirms relevant provider terms

The Financial Adviser Standards and Ethics Authority (FASEA) has determined the final expressions to be used for a provisional relevant provider are “provisional financial adviser” or “provisional financial planner”, which can be used interchangeably.

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Accounting, Education, Financial Planning

Advisers cop steep exam fee

The Financial Adviser Standards and Ethics Authority (FASEA) has released its examination legislative instrument for financial advisers, including how much it will cost for an individual to sit the professional exam.

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Education, Financial Planning

SMSFA pushes for greater CPD integrity

The SMSF Association has called on the Financial Adviser Standards and Ethics Authority (FASEA) to revise its policy regarding the approval of continuing professional development (CPD) requirements in order to improve the integrity of the process.

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