ASIC updates retirement calculator guidance
The corporate regulator has updated its guidance for trustees that provide superannuation calculators and retirement estimates. Providers are continued to be exempt from certain advice laws, but there are strict requirements on not promoting products.
July 05, 2022
ANZ life business to become Zurich Assure
From the start of next month ANZ’s risk advice business will be re-launched as Zurich Assure. With the big four bank almost completely leaving advice, Zurich swooped in to take over the risk advice arm.
July 01, 2022
Your new SOAP box: FPA releases video SOA toolkit
The Financial Planning Association has released the Statement of Advice Project (SOAP) Box Set to help members create video advice documents. It’s time to adapt to the digital video era, the association believes, rather than utilising old methods that aren’t always client friendly.
July 01, 2022
Mercer sued for fees-for-no-service
Another superannuation fund’s advice arm has been taken to court by the corporate regulator for charging without service provision and failing to provide fee disclosure statements.
June 30, 2022
90pc mispriced: More rigour needed in post-subsidisation era for advice
As subsidisation has been stripped out of advice, practices all over the country have raised prices in line with the true cost to serve. Advisers are getting better at matching value to cost, but with “90 per cent of clients" still mispriced there is a long way to go.
June 29, 2022
‘Not going to cut it’: Advisers can’t restrict themselves to under 100 clients
Without an influx of new talent coming in, the industry will be left with the challenge of boosting client capacity to bridge the advice gap. This means having 80 to 100 clients per adviser will not be sufficient according to Elixir Consulting managing director Sue Viskovic.
June 28, 2022
Insignia maintains platform dominance
Insignia Financial has maintained top spot in platform funds under management after its acquisition of MLC Wealth consolidated a fifth of the market according to data from Plan for Life.
June 28, 2022
Scope with care: In advice, context is crucial
Effective, compliant advice needs to follow a scope-to-goals approach in a structured, repeatable and defendable manner. The industry needs to get this right quickly, and certainly before the potential proliferation of scoped advice models, or risk reverting to the olden days of product flogging.
June 27, 2022
No reason for industry funds to distrust advisers: Weaven
Advice is less “polluted and corrupted” now that conflicted remuneration has ended, according to Industry Fund Services founding executive chair Garry Weaven. For this reason, he said, there is no reason that industry superannuation funds should be cynical about advisers.
June 27, 2022
