FPA to reduce CFP fees, scrap marketing levy
The membership cost for CFP professionals is going down next financial year by $100 to $995. It’s the first time in seven years the association has changed its fee structure.
May 05, 2022
‘Advisers don’t know what they’re doing’: Industry lost over breach reporting
Just over half of advisers don’t rate their own understanding of breach reporting, according to research from Gadens and Lawcadia. Only 24 per cent believe they are adequately trained by their licensee to monitor for breaches.
May 03, 2022
Value, not scale focused: Fitzpatricks takes new M&A lens
Focusing on “complex clients” that can get the most value of it’s Lead Adviser program is more important than scale according Fitzpatricks Private Wealth.
May 03, 2022
Labor against eliminating safe harbour rules
The shadow financial services minister says it’s “completely wrong-headed” to remove safe harbour steps despite the likelihood that the Quality of Advice Review will recommend it being removed in line with Commission Hayne’s suggestion.
May 02, 2022
ALP ‘100 pc committed’ to professionalism
An election win on 21 May will mean action on the education standards as shadow financial services minister Stephen Jones says there is no need to wait for completion of the Quality of Advice Review. Labor’s proposed experience pathway will become a reality which Jones says is part of the “transition” to professionalism in the industry.
May 02, 2022
Peer-to-peer groups flourish in ‘strange’ advice industry
Advice is a complicated game, with myriad strategic and investment variables to contend with and each client bringing their own range of idiosyncrasies. Maybe that’s why peer networks like XY Adviser and the Boutique Financial Planning Association are growing at remarkable rates.
April 29, 2022
Inflation top three major concern for Aussie investors
The global economy and national security have dominated the concerns of Australian investors but inflation pressure over the last quarter means it stands among the top three worries according to research from Investment Trends. It comes with the RBA potentially increasing the cash rate ahead of its board meeting on Tuesday.
April 29, 2022
‘Say what they really mean’: Ministers encouraged to be bold
Stephen Jones’ turn on commissions has been welcomed by the industry and he has been universally praised for his engagement. However, instability and inconsistency are the opposite of what both parties are promising and there are calls for both ministers to be more deliberate in their actions.
April 28, 2022
FPA releases election policy wishlist
Tax deductions for the provision of financial advice, the ASIC funding model, education requirements and finfluencers are among the key issues the association wants solved at the start of the new parliament.
April 28, 2022
‘Let’s flip it’: Actuaries retirement solution for middle Australia
Starting with an inflation-linked annuity and adding an account-based pension on top is potentially the best model to give retirees a comfortable retirement according to research from the Actuaries Institute. This will help retirees live a comfortable retirement and use up their accumulated super without the risk of running out of income later in life.
April 27, 2022
ALP softens on ‘more complicated’ insurance commissions issue
Shadow financial services minister Stephen Jones pulled back on his de facto position that insurance commissions should be banned, saying that after reflection and discourse with industry he’s realised a "more sophisticated view" is needed on the issue.
April 26, 2022
6:1 ratio of departing advisers versus new entrants
For every new or returning adviser to the industry six have disappeared according to research from Adviser Ratings. It has made the “bold prediction” there will be under 15,000 advisers by the end of 2022 and around 12,000 by 2025.
April 26, 2022
