Voice of existing clients crucial to advice review
The AFA has used its advice review submission to highlight that the views of existing clients are needed to properly assess what parts of the advice process aren’t adding value.
February 10, 2022
Vertical integration needs a nuanced review
Reviewing vertical integration would benefit both consumers and industry, and the Quality of Advice Review presents a timely opportunity for this. It would also clear the way for policymakers to address the issue of retirement guidance – a current stumbling block in retirement income policy.
February 09, 2022
Single Disciplinary Body unmanned 5 weeks after kick-off
The Single Disciplinary Body era began on 1 January, yet the industry panel members that will adjudicate adviser breaches still haven't been announced. As ASIC and Treasury wait for the minister's office to finish its vetting process, stakeholders weigh in on the implications of the delay.
February 08, 2022
Advice becoming younger and more female
The AFA and FPA have seen material increases in women joining as new members, but gender equity in the industry is still years away.
February 08, 2022
Advice review to deal with intrafund conflicts
The issue of intrafund advice will fall under the scope of the Quality of Advice Review and will not be addressed by the Retirement Income Covenant legislation, according to a report released by the Senate.
February 07, 2022
Magellan’s Douglass takes leave of absence
“Intense pressure and focus” on his professional and personal life has led to the group’s chair to step away after a chaotic 2021.
February 07, 2022
‘Useful’: The key word for advice client communications
The new year presents an opportunity for advice firms to reset their client communication strategy, which may include a plan to explain why they've seen reports that advisers no longer need a degree to practice. Claudia Pritchitt writes for Professional Planner.
February 04, 2022
Another 300 advisers leave in post-FASEA exam exodus
The final week for licensees to report advisers who have not completed the adviser exam has seen 300 leave the industry, mostly led by the SMSF Adviser Network. "Accounting and limited advice is finished," says Wealth Data's Colin Williams.
February 03, 2022
Magellan’s Douglass concedes ‘mistake’ on China
Magellan chair Hamish Douglass says he was “over-confident” on China and underestimated the regulatory risks from the Communist Party.
February 03, 2022
CFS to launch new wrap platform
As part of a $430 million investment strategy from KKR, Colonial First State will partner with FNZ to launch a new wrap platform in late 2022.
February 03, 2022
AFA proposes 10, 15 and 20 year education pathways
After surveying members, the AFA submitted a counter-proposal to Treasury’s Education Pathways proposal that splits advisers based on the length of their stay in the industry.
February 02, 2022
