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Opinion
Adviser sentiment up as fog begins to lift: CoreData
Advisers are feeling the best about the outlook for their profession and their businesses than they have at any time since we first started asking them back in first quarter of 2020 according to CoreData. Simon Hoyle looks with "guarded optimism" at the drivers for this change and whether it's likely to continue.
Simon HoyleNovember 29, 2021
Regulation
Expanded CSLR the wrong ‘jenga-block’: Hume
The minister shot down hopes of extending the planned Compensation Scheme of Last Resort, saying that including Managed Investment Schemes would coddle investors and disrupt the founding principles of risk and reward.
Tahn SharpeNovember 24, 2021
Regulation
ASIC set to change view of key Standards in 2022
The "facilitative" approach to compliance with Standards 3 and 7 will end with the rollout of the industry's new disciplinary body in January, despite lingering uncertainty around the Code of Ethics. The sharpest change for advisers, according to the AFA's Phil Anderson, might be the way ASIC views the fair value trade between them and their clients.
Tahn SharpeNovember 23, 2021
Professional Standards
Documentation is the bridge to the other side
Standard 8 in the Code of Ethics asks advisers to keep clients’ records in a complete and accurate form. While this may sound simple, it takes time to prepare according to Park Lane Advice Group director John Scukovic and Western Sydney University's Michelle Cull.
Meredith BoothNovember 22, 2021
Industry
Court confirms Caddick went unlicensed for 8 years
The federal court has confirmed Melissa Caddick conducted a financial services business without holding an AFSL, months after the now-deceased businesswoman was prohibited from selling assets or leaving the country as ASIC investigated allegations she stole millions in client funds.
Tahn SharpeNovember 23, 2021
Industry
Financial services scores low on ethics index, media scores lower
The financial services sector is perceived as being in the lower half of the ethical spectrum compared to other industries according to the Governance Institute's 2021 Ethics Index, with its 'ethical score' placing it above only the resources sector, large corporations and... media.
Tahn SharpeNovember 17, 2021
“For those of us who already knew when to use an ROA, the ASIC guidance is of no benefit. It does nothing to reduce the regulatory burden or the cost of advice. What I was hoping to see from ASIC was action to reduce the actual regulatory burden.”
David Smith
Principal adviser, Frost Financial Planning in Winnellie, NT
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“It’s been both pleasure and privilege to have been able to count Ray as a colleague and friend for 31 of those 51 years. A more upstanding and honourable member of the advice community I have not met. The industry will be diminished by your well-deserved retirement, Ray. I’ll have a Pinot Gris in your honour, mate.”
Wayne Leggett
Adviser at Paramaount Wealth Management in Leederville, WA
Regulation
ASIC heads off Mayfair founder’s latest venture
After successfully having him banned from fundraising and promoting investment products for 20 years, ASIC is trying to block the contentious Mawhinney from raising funds via his Eleuthera investment venture.
Tahn SharpeNovember 16, 2021
Opinion4
Reform by gaslight: Why the FSC’s plan for advice doesn’t add up
The FSC's white paper is neither entirely without merit nor entirely self-interested, but it is fundamentally flawed because it continues to prioritise distribution over advice and ignores the historic consequences of that choice. Sean Graham writes for Professional Planner.
Sean GrahamNovember 8, 2021
Opinion
Advice ‘triage’ services to offset onboarding woes in 2022
New clients will drive growth in the year ahead, but advisers say onboarding is fast becoming “harder, longer and more expensive”. To make things easier, more practices are setting up advice 'triage' services to keep prospective clients connected and get them prepared for the full suite of services.
Simon HoyleOctober 8, 2021
Industry
‘Not a single dollar’: Call for advisers to be exempt from CSLR
Stakeholders are lining up to protest the exclusion of MIS providers from the compensation scheme, despite the government confirming it will judge the advice industry on its pre-royal commission standards.
Tahn SharpeNovember 15, 2021
Industry
CBA retreats as AIA gears up for scaled back advice offering
While the nation's biggest bank has completed its retreat from retail wealth management, insurance giant AIA Australia will pick up its clients and offer advice to "lower to middle-income Australians" with "simple wealth needs".
Tahn SharpeOctober 27, 2021
In Focus
Why now is the time for advisers to consider private equity
Private equity investing is rising in prominence as some of the world’s largest pension and superannuation funds reach for greater exposure.
Nina HendyNovember 18, 2021
7 March, 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.
6 - 7 June, 2022
Licensee Summit
SUITABLE FOR: Licensee and dealer group heads.
The annual Licensee 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.
Retirement
Retirement dates stretch as retirees seek control: Fidelity
Retirees are abandoning the concept of early retirement and planning to work past the age of 67 according to Fidelity, which says people are looking for more control over their destiny amid increasing awareness that a happy retirement depends on more than just money.
Tahn SharpeNovember 29, 2021
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.
Tahn SharpeNovember 4, 2021
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.
Stewart HawkinsMay 12, 2021