FSC launches Digital Advice Expert Group
The Financial Services Council has announced the formation of the Digital Advice Expert Group which will replace the Digital Advice Association launched a year ago.
May 07, 2024
ASIC warns over cold callers and clickbait ads
ASIC is warning consumers to be wary after a review identified some cold calling operators using high-pressure sales tactics and online clickbait advertisements to lure consumers into receiving inappropriate superannuation switching advice.
May 07, 2024
DBFO bill strains ‘collegiate relationships’ between advisers and super
Peak associations for super funds have backed the Delivering Better Financial Outcomes bill, but a submission from the Joint Licensees Group has detailed how flaws in the legislation could ultimately incentivise advisers to roll clients out of APRA-regulated funds if they become too bureaucratic and costly to deal with – or even because trustees may misuse the power that comes with the supervisory mandate.
May 06, 2024
EOFY advantages for HNWs looking to give philanthropically
Instead of making one-off annual donations, advisers of high-net-worth clients can take advantage of the impending stage three tax cuts by bringing forward future years of contributions for charitable giving.
May 06, 2024
Count extends contract with Iress
Iress has signed a three-year extension agreement with Count as provider of choice for its advice technology.
May 06, 2024
ASIC won’t expect super fund trustees to audit all advice
The corporate regulator says there won’t be any pressure on super fund trustees to monitor every piece of advice being paid for from a member’s account – now or after any QAR legislation passes – and it says it will continue to “do our best to make that clear”. It comes amid industry pushback over the wording of the bill with licensees and advice associations believing it will add further red tape.
May 03, 2024
FAAA open to adding qualified advisers to membership
The Financial Advice Association will keep an open mind about allowing so-called qualified advisers to join the association, with some current members wanting to ensure this new category of “adviser” is further integrated into the professional advice ecosystem. However, the association won’t firmly commit to this until it sees draft legislation, which it expects mid-year.
May 03, 2024
Govt implements 13 changes from ALRC report
Universal acceptance there are issues with the Corporations Act 2001 has prompted a radical overhaul now underway. There will be a gradual restructuring of the provisions recommended, and a review every decade to ensure that the reforms are fit for purpose.
May 02, 2024
Advisers need a plan to deal with a $5t transfer of wealth
Financial advisers won’t automatically benefit from a looming intergenerational transfer of almost $5 trillion wealth. They need a plan and a strategy to engage with existing clients and their children.
May 02, 2024
Vanguard Super cuts fees
Vanguard Super has reduced its annual administration fees from 0.35 per cent p.a. to 0.33 per cent p.a. with the administration fee cap lowered from $850,000 to $300,000.
May 01, 2024
Qantas Super commits $200m to agriculture play
Qantas Super has committed $200 million with agriculture investor GO.FARM to transform underutilised agricultural land into horticultural projects in NSW’s Riverina, northern Victoria and other parts of Australia.
May 01, 2024
