M&A is not permission to get fat and lazy

The act of buying a business does not guarantee sustainable growth any more than buying flowers guarantees a healthy relationship, Paul Barrett writes. Success is the result of consistent effort and hard work post-sale.

ASIC’s gaze to fall on smaller advice groups: CoreData

With the banks gone ASIC is sure to focus more on smaller advice groups, Andrew Inwood said. The speed – and eventual cost – of that might have a lot to do with the regulator's new leadership team, he reckons.
On Practice

‘Future client’ explained: Inside the heads of the emerging affluent

Income protection, cash flow management and portfolio diversification are important areas this emerging segment of client which has the highest household income of any other group wants advice on, a new study shows.
Risk & Insurance

Bert goes into bat for insurance commissions

Less than an hour after Labor’s Stephen Jones said insurance commissions were “a problem”, Liberal MP and ex-planner Bert van Manen called them a “perfectly valid form of remuneration”. Despite his endorsement, financial services minister Jane Hume says the government will also wait on the LIF review's findings before making a call on the issue.
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‘Advisers are ready for this’: Time to focus on the retirement framework

Providing quality outcomes for Australians in retirement requires more coordinated thinking and a collective push for a retirement advice framework to become mainstream. With a greater sense of urgency, a group of influencers in wealth management bring their next-level thinking to the table.

Jones doubles down on risk commissions ban stance

The shadow financial services minister reaffirmed his bias against insurance commissions and all but vowed to eliminate anything resembling conflicted remuneration out of the industry if Labor wins the next federal election.

Calls grow for the term ‘advice’ to be reserved for personal use

Representative bodies question why the terms general advice, intra-fund advice and even robo-advice are still being used. But after being bandied around by stakeholders from all corners, the issue has failed to really pique the interest of policymakers.
Top Comments

“I’m not arguing against unconflicted advice models – but whether a client pays a fixed or asset based fee has nothing to do with why the cost of providing advice has risen sharply and made it less accessible for those who need it most.”

Daniel Budreika

Planning for Prosperity in Fullarton, SA

Fix conflicts before making advice more accessible: Consumer group

4 February 2021

“I am sick to death of being told financial advisers are crook. ALL the people I call friends in this industry do the right thing and have done so for years. They have always put the clients interest first, been ethical not only in business but in their personal lives as well.”

Steven Pugh

Professional Investment Services in Osborne Park, WA

FASEA’s demise: Be careful what you wish for

3 February 2021

“If AFSLs are still holding onto traditional business models then they will end up redundant and without a business. Fortunately, not all AFSLs and advisers have been blind and apathetic in responding to - albeit not so perfect - FASEA’s standards and ethics.”

Angelique McInnes

Central Queensland University in QLD

FASEA’s demise: Be careful what you wish for

3 February 2021

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Strategic advice in line to be next regulatory target

If the biggest indictment on the industry to date has been fees-for-no-service then the next big test for advisers will be demonstrating value for service in their investment proposition, especially if clients are being separately charged for that service. Neil Younger writes.

ASIC sounds the alarm on bond scams

The corporate regulator has issued a warning to investors about imposter bond scams, revealing it has uncovered two such scammers pretending to be associated with well-known domestic and global financial services firms and offering high-yield bond investments in Australia and the UK.

Schroders touts alternatives to ‘lousy’ defensive returns in 2021

There’s no silver bullet to poor returns on defensive assets, according to Schroders Simon Doyle, but the "big middle" between high quality bonds and equities is fertile ground if you can stomach a trip down the capital structure. 
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FASEA’s demise: Be careful what you wish for

Industry leaders should endorse the spirit and substance of the Code of Ethics and accept that there will be inconvenient commercial consequences for some of the industry’s participants, argues Robert MC Brown.

Kaplan doles out free FASEA exam prep tools

Education provider Kaplan has announced free examination support for advisers who are yet to successfully complete the FASEA exam requirement, which all advisers must do before January 1, 2022.

FASEA’s Glenfield: 10,000 qualified advisers a ‘strong’ story

Past the halfway point in its exam transition program, the authority’s CEO says its time to acknowledge what the uplift in professionalism means to consumers. “I had faith in the outcome of this,” Stephen Glenfield tells Professional Planner.
Attend a Professional Planner Event
June 8, 2021 - June 9, 2021

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.
June 22, 2021 - June 23, 2021

Retirement Conference

SUITABLE FOR: Chief executives, chief investment officers and heads of product and personnel working in member services and advice of superannuation funds

July 27, 2021

Best Practice Forum

SUITABLE FOR: Financial planning practice owners and principals.
The Professional Planner | Financial Planning Association Best Practice Forum taps into the experience and insights of practice owners, principals, consultants and other industry participants to deliver leading-edge thinking on financial planning best practice.