News : Financial Planning

Financial Planning, Regulation

Interim report questions key advice concerns

tax impact; franking credits

The royal commission into banking, superannuation and financial services has identified greed and the “pursuit of short term profit at the expense of basic standards of honesty” as the reasons for the misconduct, and highlighted several issues for the financial advice sector.

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Accounting, Financial Planning

Multidisciplinary firms outperforming accountants

New research has revealed multidisciplinary accounting practices have a larger number of SMSF clients and have greater profitability growth, with the shift away from pure accounting specialists expected to continue.

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Financial Planning

Planners win statutory declaration rights

The Financial Planning Association (FPA) has secured recognition for financial planners and advisers as additional categories of people who are authorised to witness a commonwealth statutory declaration.

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Accounting, Financial Planning, Investments

Accountants should offer whole-of-wealth services

Accountants need to lead the conversation on working more closely with financial planners and expanding their wealth accounting skill set to work on a whole-of-wealth basis, according to Class.

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Financial Planning, Insurance

Advice vital in insurance decisions

It is crucial for SMSFs to seek professional advice when making decisions on insurance within their fund to competently navigate the insurance minefield, according to wealthdigjtal.

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Financial Planning, Portfolio Construction

Technology to drive managed accounts growth

The managed accounts segment will almost double in two years, with technology to drive innovation in the sector, according to Hub24.

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Appointments, Financial Planning

Stuart Robert to oversee financial services

Treasurer Josh Frydenberg has announced the treasury portfolio arrangements for Prime Minister Scott Morrison’s government.

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Financial Planning, Regulation

Likely reform will put advice at risk

Expected financial planning reforms following the revelations from the banking royal commission will restrict advice to those who can afford to pay thousands of dollars in comprehensive advice fees, according to an online advice firm.

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Financial Planning, Strategy

Expect complex franking credit discussions: CAANZ

Advisers and accountants should prepare for in-depth discussions with SMSF clients around strategies to navigate through Labor’s proposal to disallow refunds of excess franking credits should it become law, according to an SMSF expert.

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Education, Financial Planning

FASEA rules out consultation before legislation

The Financial Adviser Standards and Ethics Authority (FASEA) has indicated there will be little to no consultation between now and when legislation is introduced for the new professional standards for financial advisers and accountants next year, according to an industry body.

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