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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.
Regulation
1

‘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.
Regulation
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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.
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.
Opinion
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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.
Analysis
2

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.
On Practice
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Industry
1

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.
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.
Investment
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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.
Upcoming events
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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.

Advice
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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.
Profiles
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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.
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.