ASIC and the Irish lead global financial services retail market study
The Australian and Irish securities regulators have teamed up to combat global trends such as gamification techniques, the rise of retail trading and "gambling-type investment opportunities".
March 23, 2022
Levy appointment seals it: Advice quality review will be about anything but
She's incredibly well respected, a top-flight financial services lawyer who moved to Allens in 2014 and promptly won partner of the year. But is a "distribution of financial products" specialist who makes her bones representing funds, banks and other corporate entities the right person to lead a review into the quality of financial advice? Probably, if quality isn't the priority.
March 22, 2022
BID and YFYS guidelines a balancing act for advisers
YFYS benchmarks will be applied to choice super products in June, and with many of these options available on retail super platforms advisers can expect a barrage of questions. According to Annika Bradley, balancing best interest duty with guidance from the regulator will be key.
March 22, 2022
Finfluencers warned: ‘You’re going to need a licence even if you’re not being paid’
ASIC's head of markets has delivered a strong message to finfluencers who skirt the Corporations Act's guardrails on financial advice. Get a licence or go to jail, Greg Yanco says, adding that the phrase "this is not financial advice" won't save them.
March 21, 2022
Most advisers now using managed accounts: Research
A decade ago only 16 per cent of advisers used managed accounts but the ease of use during market volatility has meant now 53 per cent have found it preferable according to research from Investment Trends and SSGA.
March 21, 2022
Turnaround times for SOAs ‘not a difficult problem to solve’
With statements of advice under the microscope of the Quality of Advice Review, fixing the "12 to 30 hour" SOA creation process should be low-hanging fruit according to Coredata's Simon Hoyle and Paul Barrett from AZ NGA.
March 18, 2022
ASIC’s ambitious goal to give advice to Australia’s youth
Under 21s are the cohort least expected to access financial advice, but the corporate regulator has launched an initiative it hopes will improve the financial literacy of Gen Z.
March 18, 2022
Why life insurance is the Brussel sprouts of financial services
The regulators may not like it, and advisers may also be uncomfortable with the suggestion, but advisers are life insurance ‘sales’ people. That’s not an insult, writes Paul Moran.
March 17, 2022
Industry should create YFYS-style managed account benchmarks: Lawler
The advice industry should work together to introduce a performance benchmarking tool for managed accounts similar to Your Future, Your Super before the government steps in, “potentially not doing it right”, says AMP Advice lead Matt Lawler.
March 16, 2022
Thematic ETFs supplanting traditional index huggers: Research
Once famous for allowing investors easy access to a broad selection of equities in a single product, ETFs are now becoming the preferred vehicle to gain coverage to thematics according to Investment Trends.
March 16, 2022
