AFA wants ‘contentious’ issue dropped from advice review
Although largely welcoming of Quality of Advice Review lead Michelle Levy’s recommendations, the Association of Financial Advisers would like her to tweak the proposal that allows non-relevant providers to give advice.
October 06, 2022
Michael Miller and the finance lesson his grandmother taught him
A 21st birthday gift of exactly $72.58 might seem like a random figure, but it was a stroke of genius from Michael Miller’s grandmother that helped foster his passion for finance.
October 05, 2022
ASIC remediation changes puts heavy lifting back on licensees
The corporate regulator has put all licensees on notice that they have responsibility for identifying instances where clients require remediation. Only time will tell how effective this will be, writes Simon Hoyle.
October 05, 2022
‘More than numbers and compliance’: Reflecting the value advisers offer
Under fire and in a period of industry transformation, financial planners have not had it easy over the last few years. With World Financial Planning Day upon us, industry leaders, including some of the top advisers in Australia, explain why they care about what they do, and the positive difference financial advice makes.
October 04, 2022
Lavish retirements and the ‘Value of Advice’
Adding a quantifiable reference point to prove the value of advice to Australians, the Financial Planning Association has partnered with research consultancy MYMAVINS to produce an annual ‘Value of Advice’ survey. The inaugural iteration has uncovered the vast difference between what advised and unadvised clients can expect in retirement.
October 04, 2022
Hejaz launches Islamic dealer group
Hejaz Financial Services has launched an Islamic financial services licensee to cater to advisers who want to focus on servicing the almost one million Muslims in Australia.
October 04, 2022
Merging the profession: A positive opportunity for clarity and renewal
While the FPA/AFA merger presents an opportunity for a unified voice for industry advocacy, it can’t stray away from the true purpose of an industry association writes Robert MC Brown. Will the true purpose of the new association be to protect the public’s interest or will it become a lobbying group?
September 30, 2022
Advisers have a ‘macro duty’ to steer clients into sustainable investment choices
It's in the best interest for advisers to take the lead on conversations about responsible investing and discuss how much sustainability is a priority to those clients.
September 29, 2022
Royal Commission conflicted remuneration case dismissed
The Federal Court has dismissed a key case from the Hayne Royal Commission after finding the arrangement between the Commonwealth Bank to distribute Colonial First State’s Essential Super product was not conflicted. The timing of the case comes as the Quality of Advice Review has proposed opening the door for super funds to give more advice.
September 29, 2022
Keep relevant provider title only for advisers: FPA
The Financial Planning Association has recommended the terms financial adviser and financial planner be used only by relevant providers who meet the professional standards.
September 28, 2022
Govt services could bridge advice gap
Financial advice has a high level of trust with the public, but the key to bridging the advice gap and improving financial literacy could be expanding government services, according to research from CoreData and the Conexus Institute.
September 28, 2022
