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Managed Accounts
Managed accounts present further research needs
There is potential for the role of research in managed accounts to expand to help advisers show they’re on top of the portfolios they’re offering to clients as regulator scrutiny over performance ramps up. The discussion on the Shape of Advice podcast comes as the latest managed account census data shows the market has shot past $200 billion in funds under management.
Chris DastoorOctober 8, 2024
Advice
Amid affordability row, clients say advice worth the cost
As the government battles to lower the cost of financial advice by reducing red tape via the Delivering Better Financial Outcomes bill, the latest Value of Advice research has found clients believe the benefits still outweigh the cost.
Beata KuczynskaOctober 2, 2024
Regulation1
‘An important step forward’: ATO determination recognises advice as a profession
In a win for the profession, the Australian Taxation Office has expanded the scope for what financial advice fees are considered deductible. It came off the back of a half-decade advocacy project, but further work is needed to convince the tax office of full tax deductibility of advice fees.
Beata KuczynskaSeptember 26, 2024
Technology
Licensees should be taking leadership on AI
Licensees must take the reins and help guide advice practices with the implementation of AI. Appointing a full-time expert to educate team members on the emerging technology is a first step in the effective adoption.
Beata KuczynskaOctober 3, 2024
Superannuation
UK mulls the dos and do nots of superannuation
As UK pension reform picks up steam, British policymakers and funds have embarked on fact-finding missions to understand the inner workings of their Australian counterparts. Of particular focus has been what has – and hasn't worked – like performance testing, stapling and the conflict between costs and member outcomes.
Darcy SongOctober 3, 2024
Analysis
Jones cleans up tax adviser ethical rules but gives tight feedback window
Treasury’s latest consultation for the tax adviser ethical obligations determination checks off what industry bodies have raised concerns over, but Tom Ravlic writes Minister for Financial Services Stephen Jones has given a tight window for feedback.
Tom RavlicSeptember 26, 2024
Analysis2
Four out of 10 bodies got it right – here’s why
Six out of 10 industry associations took out a full page ad this week criticising the government’s tax practitioner reforms. It was a complete miscalculation ahead of the meeting with Minister for Financial Services Stephen Jones on Friday and the key adviser-based associations were smart to not participate.
Tom RavlicSeptember 5, 2024
Industry1
Compliance concerns relegated as cost of business rises
In the aftermath of the Hayne royal commission, compliance was the biggest priority for advisers, as fears over breaching legislation were heightened. But five years later, CoreData’s Andrew Inwood and Dean Thomas tell Professional Planner the tide has turned, with practices becoming more concerned about how to generate profit in a hostile economic environment.
Beata KuczynskaSeptember 25, 2024
On Practice
‘Death by data’: To improve your practice efficiency, sort out your data
Practices can find themselves swamped in client data. By implementing a system to structure and clean up their databases, they can boost efficiency and simplify the processes for their clients.
Beata KuczynskaSeptember 19, 2024
Regulation
Vanguard fined $12.9m for poor screening of ESG fund
Vanguard Australia has been fined $12.9 million for making misleading claims about the ESG screening for its Ethically Conscious Global Aggregate Bond fund. The judge in a case brought by ASIC noted that almost three-quarters of the securities in the fund by market value had not been researched or screened against ESG criteria.
Chris DastoorSeptember 25, 2024
2 - 3 December, 2024
Researcher Forum
The event is 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.
Register and view the agenda here.
For content about the previous event, please visit our publication website.
10 - 11 February, 2025
Advice Policy Summit
The Advice Policy Summit is recognised as the key event for the leaders of financial planning dealer groups and licensees to meet and engage with peers and colleagues to discuss the issues that underpin great businesses and the delivery of great advice.
Email to register now.
Retirement
Retirement calculators not so money smart
Super Consumers Australia has criticised the super industry’s poor delivery of retirement calculators for members, saying many would be better off relying on the one provided by ASIC’s Moneysmart. The consumer advocacy organisation has called on the government to take responsibility and provide access to quality, independent information.
Beata KuczynskaSeptember 27, 2024
Obituary
Industry farewells legendary journalist and publisher
Superannuation and financial advice industry leaders were among the hundreds of mourners at the funeral of Greg Bright in Sydney’s eastern suburbs on Thursday. Leng Ohlsson, one of countless journalists and employees mentored by Bright, reflects on a man who cared about people first and foremost – even willing to occasionally prioritise friendship over the story.
Leng OhlssonSeptember 6, 2024
Profiles
Using advice as a force for good
It’s far from unusual for advice practices to aim to grow, but Via Financial Group co-founder Matthew Read sees growth as being more than just boosting revenue – it’s a matter of impacting the community.
Chris DastoorJuly 24, 2024
Business is increasingly risky, giving good advice is not