News

ASIC, Regulation

ASIC acts on licensees outside dispute scheme

financial services complaints scheme

ASIC has moved to ensure financial services providers are covered by the industry dispute resolution scheme, prompting 50 firms to sign up to AFCA.

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Financial Planning

SMSF unmet advice needs grow

financial advice needs SMSFs

The unmet financial advice needs for SMSFs are varied and growing, with the majority of funds reluctant to seek advice on their unmet needs.

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Accounting

Franking credit policy had silver lining

franking credit diversification

A positive development for SMSFs did result from Labor’s proposed change to franking credit refunds raising questions around the need for investment diversification.

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Financial Planning, Investments

Strategy advice doesn’t need SOA but care required

SMSF investment advice

SMSF practitioners can give advice on an investment strategy without a statement of advice, but need to be aware they may be held liable for losses stemming from that advice.

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Investments, Platforms

Why managed account popularity is set to rise

use of managed accounts

Industry research has shown the popularity and use of managed accounts is set to rise, but significant additional education about these offerings is still required.

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Retirement, Superannuation

Think tank sparks war of words on SG rise

increase superannuation guarantee rate

Superannuation industry groups have reacted strongly to independent modelling that claims an increase in the SG rate would hit wages and make no difference to retirement incomes.

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ASIC

Adviser handed decade-long prison term

ASIC disqualifies auditors

A former Adelaide-based adviser has been sentenced to 10 years’ imprisonment having stolen nearly $5 million of his clients’ money.

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Superannuation

SG increase would benefit more than retirees

Superannuation guarantee increase

A superannuation guarantee increase would be a good thing for Australia, but a new metric is needed to better measure the potential benefits.

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Retirement, Superannuation

Deeming rate gap eroding retiree capital

deeming rate gap

The erosion of pensioner capital can be a direct result of the difference between deeming rates and the official interest rate, but a solution to the problem is available.

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ETFs

BetaShares unveils government bond ETF

government bond ETF

BetaShares has expanded its fixed income ETF range with the release of a government bond fund.

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