The needs of clients should be the number one priority for financial services firms but this fundamental principle has not always been followed.

Less regulation that is better crafted and administered is needed to reduce the cost and complexity of financial advice, according to the FPA.

The low number of new entrants into the financial advice sector and the barriers to entry need to be considered as part of the government’s Quality of Advice Review.

Financial planners should avoid adopting a one-size-fits-all approach when providing advice to clients in retirement as it will not be effective.

Financial advisers will experience some respite from regulatory change in 2022 that will allow them to focus on improving practice profitability.

Two differing positions within the law continue to create uncertainty as to whether SMSF advisers must comply with the DDO regime.

The ability of an SMSF trustee to make rational decisions can be linked to the complexity of a particular action and capacity should not be assumed.