News

Education, FASEA, Financial Planning

Sitting first FASEA exam a gamble

FASEA; exam; AFA;

Advisers who will sit the first round of the Financial Adviser Standards and Ethics Authority exams are taking a gamble, according to a senior Association of Financial Advisers executive.

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Education, FASEA

Ex-FASEA chief joins Deakin ahead of exams

Former FASEA chief executive Deen Sanders has joined Deakin Business School’s ethics unit team weeks before the first adviser exams take place.

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FASEA, Financial Planning

AFA embarks on new lobbying strategy

Individual AFA members will be included in its lobbying efforts, with the industry body wanting to engage the government at both senior and grassroots levels.

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ASIC, Financial Planning

WA adviser banned for misleading conduct

ASIC has banned a Perth adviser who recommended SMSFs without considering client interests after he was also found to have recreated missing advice documents.

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Compliance

Member admission poses compliance risk for SMSFs

Trustees and advisers who do not pay close attention to SMSF member admission rules may be placing their funds at risk of being found non-compliant by the ATO.

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Investments, Retirement

Retirement income under pressure after rate cut

Retirement income investments should be reassessed following the latest rate cut, while wider sources of franking credits should also be considered, according to a specialist investment manager.

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Investments, Retirement

Crash protection plan recommended for retirees

A boutique asset manager has advised retirees to opt for a crash protection strategy to minimise the impact of a financial downturn on their investment portfolio.

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Administration

Member values key to effective SMSF administration

SMSF members; administrators

SMSF members are increasingly likely to seek out administrators who prioritise long-term, intangible values by providing guidance and building rapport, as well as offering low cost and efficiency.

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Accounting, ASIC

Former accountant jailed for fraud

A former accountant who recommended the use of an SMSF with some clients has been jailed after he defrauded investors of $815,000.

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Financial Planning, LRBA

LRBA broker recommends specialist expertise

An LRBA loan specialist has recommended advisers use other experts when putting in place loan arrangements.

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