Collaboration, not customisation, the flag to wave at advice review
Customisation sounds good and it can be, yet when it comes to technology the human desire to be different adds cost and complexity and can destroy collaboration. With the Quality of Advice Review looming this could have serious repercussions, Paul Moran writes.
May 23, 2022
‘It’s a different scale’: Koda deal won’t set industry standard
The Koda Capital deal with Emigrant Partners has brought attention back to the holy grail of wholesale advice, but Encore's Tom Reddacliff says this model won’t work for everyone. At Professional Planner's Licensee Summit he will be leading a panel on the merits of different advice models and the future of advice businesses.
May 20, 2022
‘We had become quite difficult to do business with’: CFS reflects
After reviewing feedback from advisers who claimed underinvestment had made the CFS platform business problematic to work with, the wealth management group has gone through a process of rejuvenation with the help of increased funding.
May 20, 2022
Adviser numbers hit below 17k
The corporate regulator has caught up with licensees that haven’t removed advisers who failed to pass the adviser exam according to Wealth Data.
May 19, 2022
‘Not only survived but thrived’: New graduates revel in education success
The education carve-out has been a hot topic since it was proposed by Stephen Jones last year, but on Tuesday night at the Ivy Ballroom recent graduates from Kaplan celebrated their commitment to professionalism and the sacrifices they made along the way.
May 18, 2022
‘We had staff in tears’: RI Advice warns against cybersecurity inaction
RI Advice was fined by the Federal Court after a cybersecurity attack stole data which the firm concedes has likely been sold to the black market. The “Australian first” court decision means this will be a test case for other licensees and chief executive Peter Ornsby doesn’t want to see another AFSL make the same mistake.
May 17, 2022
Australians less trusting of advisers than global peers: CFA
Compared to their global peers Australians are less trusting of financial advisers with around 40 per cent of retail investors having faith in the industry according to a survey from the CFA Institute.
May 17, 2022
SIAA challenges individual adviser registration move despite industry support
A possible move to the individual registration of advisers, as mooted in the Australian Law Reform Commission's review of the Corporations Act, has been challenged by the Stockbrokers and Investment Advisers Association, which said it could disincentive promoting law-abiding corporate cultural practices.
May 16, 2022
In the interest of fairness: AFCA looks to refine consultation process
The authority will work to create a uniform framework for consulting on how ombudsman approach the dispute resolution process. It’s a recommendation shared by its Fairness Project report and from Treasury’s review into AFCA.
May 13, 2022
Australians leaning towards Labor for financial services vote: CoreData
With the race to the federal election heating up, voters have shown a tendency to trust the ALP on issues to do with security, continuity and accountability in the financial services industry according to CoreData.
May 13, 2022
