Why do more millennials have expensive gym memberships than see financial advisers?
Making advice more affordable is a worthwhile pursuit, but Australians have shown they are happy to pay a premium price for a quality service. Adele Martin writes the profession is more than capable of using its creativity to convey the value it provides.
October 14, 2022
CSLR legislation creates ‘god-like’ powers for the minister: Bragg
The $20 million levy cap currently included in the Compensation Scheme of Last Resort bill means the financial services minister would be tasked with using their own discretion to fund any excess. According to Senator Andrew Bragg this could have unintended consequences for the industry if clear limitations are not set out to limit the minister’s power.
October 14, 2022
Is your crisis communications plan up to date?
Whether it’s mitigating a disaster that makes front page news or accurately and effectively informing clients, employees and other stakeholders about an emergency, the value a strong crisis communication plan is essential writes Claudia Pritchitt.
October 13, 2022
Accessibility and affordability shouldn’t undermine protection or professionalism
Regulatory reform in Australia has advanced the cause of an advice profession, and bolstered consumer protections. But the cost of those gains is eternal vigilance to make sure neither is fatally undermined.
October 12, 2022
Australia possesses ‘highly investible’ advice market
The man who helped broker the Koda Capital/Emigrant Partner deal says the offshore perspective of the Australian advice market is highly positive, thanks to a strong regulatory framework that has been implemented over the ensuing years and a $3.4 trillion retirement pool.
October 11, 2022
Mayfair 101 appeal dismissed
The corporate regulator has successfully defended an appeal against the $30 million penalty imposed on Mayfair 101 companies. The win for ASIC comes after Mayfair director James Mawhinney had his 20-year ban overturned last month.
October 11, 2022
BOLR class action commences
The class action launched by AMP financial planners over the changes to the Buyers of Last Resort program has commenced this week. Evidence presented to the court argued AMP sought to limit its financial liability ahead of the impending departure of 1,500 advisers in the aftermath of the Hayne Royal Commission.
October 10, 2022
Quantity trumps quality in the Quality of Advice Review
The Quality of Advice Review could see the emergence of an upper and lower class of financial adviser. Paul Moran writes Levy’s bold thinking should be commended, but the proposals suggest we’re in the midst of a Quantity of Advice Review.
October 07, 2022
Wholesale and retail FUM drops $180b during June quarter
Wholesale and retail funds have seen a reduction of almost $200 billion during the June quarter with volatile global stock markets continuing to wreak havoc.
October 07, 2022
Industry drops below 16k advisers amid exam departures
With the implications of the September extension for the adviser exam beginning to be felt, the industry has now dipped below 16,000 advisers for the first time since the Hayne Royal Commission, according to Wealth Data.
October 06, 2022
