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Regulation

ASIC to improve breach reporting processes

The corporate regulator will continue to engage with industry over the breach reporting regime, giving some recognition to the struggles the industry has faced since the regulation commenced last October.
Regulation
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Treasury outlines review of ASIC Industry Funding Model

Treasury has released its terms of reference for the ASIC Industry Funding Model which industry associations hope will address the burden placed on financial advice. With fewer advisers left in the industry it’s imperative the review find a balance that doesn’t leave advisers carrying more than their fair share.
Industry
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Licensees

Diverger’s Centrepoint bid called off

Diverger has ended discussions to acquire Centrepoint Alliance due to lack of “meaningful engagement”. However, neither party is ruling out future scale plays within the industry.
Industry

Expect more advisers to exit industry as mental health declines: Hunt

Declining mental health caused by compliance burdens and tougher education standards resulting in droves of advisers leaving the financial planning industry, according to research.
Regulation
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Regulation

Grace period over for DDO

After a transition period of roughly 10 months the corporate regulator is now ready to act against those who are not fulfilling the design and distribution obligation requirements. ASIC’s first application of the rules show it is paying attention to making sure high-risk products don’t get into the wrong hands.
Opinion
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Opinion
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Affordability and accessibility of advice unlikely to improve: CoreData research

Advisers are sceptical that the Quality of Advice Review will achieve its named aim – that is, to improve the quality of advice. Nor do they believe it will improve advice affordability and accessibility.
Opinion
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Dunbar’s Number and Kitces’ Conjecture underline advice challenges

With declining adviser numbers, licensees are running out of ways to leverage scale and grow their business to a sustainable level. It's a tricky juxtaposition, says CoreData's Simon Hoyle, and one that will lead to the closure of more than a few dealer groups over the next two years.

Listen to our new Ethics for Advisers series

On Practice
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Industry

Maroney to step down as SMSF Association CEO

Peter Burgess will replace John Maroney as association chief executive next year while he takes time off to explore future opportunities.
On Practice

‘Quite isolating’: VAN expansion looks to improve small practice networking

Seeing a gap to help smaller advice firms grow and develop, Macquarie will expand its Virtual Adviser Network to include practices with revenue under $5 million.
Upcoming events
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1 December, 2022

Researcher Forum

SUITABLE FOR: Heads of dealer group and licensee research businesses, senior executives of independent research firms, and senior professionals involved in researching investment products for inclusion in model portfolios and implemented consulting.

The event designed specifically for senior research professionals. The forum focuses on issues related to the generation and delivery of research and research-related materials to clients.

Advice
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Advice

The evolution to Wealth 3.0

The wealth management industry is evolving from strictly face-to-face holistic advice to affluent clients and will instead require the mass distribution of advice to a greater demographic spectrum. Wealth 3.0 outlines how advice practices need to evolve to meet this broader offering.
Profiles
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Industry

Shuttleworth on Centrepoint’s future and what he tells his daughter’s boyfriend

The industry veteran got a warm start at Centrepoint after working as a consultant with the board, which came in handy when talks to buy Clearview's advice network gathered pace. He speaks to Professional Planner about running the now-fifth largest licensee in Australia and the sage words of advice he had for his daughter's university-age boyfriend.  
Profiles

Leading from 35,000 feet – treat your board as your best advisers: Alan Joyce

Qantas CEO Alan Joyce stressed the key to leading during times of crisis is seeing the big picture and tapping the experience of your own top table.