AAT upholds cancellation of Olive’s AFSL
Olive Financial Markets’ AFSL cancellation for misleading conduct involving prohibited hawking by cold-calling clients to rollover super funds into managed discretionary accounts has been upheld by the Administrative Appeals Tribunal, according to ASIC.
January 11, 2023
Justice Derrington to depart ALRC
Justice Sarah Derrington is leaving the Australian Law Reform Commission (ALRC) as its president and will be replaced by Justice Mark Moshinsky in the interim until a permanent replacement is confirmed.
January 11, 2023
‘That trumped everything’: Helping others the key motivator to becoming an adviser
Advisers are primarily motivated to join the profession to help people rather than for personal gain, despite public perception often suggesting otherwise. However, a key catalyst for this motivation is personal hardship.
January 10, 2023
ASIC gives all clear to advise on Home Equity Access Scheme
Concerns that the Home Equity Access Scheme from Centrelink is a “no-go area” for advisers are unfounded, according to the corporate regulator, which has given guidance that planners do not need a credit license to give advice on the scheme.
January 10, 2023
BlackRock appoints James Raby as APAC head of wealth
BlackRock has appointed James Raby as APAC head of wealth.
January 10, 2023
Tax deductibility of advice presents a multi-billion dollar economic boost
With the ATO consulting on what services can be deducted, the profession has been given the chance to review rules that were written when advice was in its infancy. By allowing advice fees to be subsidised by taxes, the end result could generate an economic benefit worth billions.
January 09, 2023
AMP dealt with $50m blow from Collimate sale delay
A hold-up with the regulator in China has delayed the sale of AMP’s capital markets business with an agreement to delay the sale costing AMP over $50 million.
January 09, 2023
ASIC places interim stop order on Vasco fund
ASIC has placed an interim stop order on Vasco Responsible Entity Services, stopping it from offering or distributing the Pivotal Diversified Fund to retail investors.
January 09, 2023
Licensees urged to ensure correct adviser details ahead of FAR update
Licensees have until the end of the month to confirm whether financial advisers are able to provide tax (financial) advice on the Financial Adviser Register. The details will be included in the publicly available information on the MoneySmart website.
January 06, 2023
Jarryd Thraves: Understanding the psychology of financial planning
The Perth-based financial adviser utilises his interest in psychology and emotional intelligence to help his clients reach their financial goals.
January 05, 2023
