Adviser numbers drop below 18k
The number of advisers on the FAR has reached 17,670 as ASIC awaits confirmation of the full drop-off of advisers who have not passed the adviser exam.
January 13, 2022
Consultation leaves door ajar on education carve-out
The proposal to water down education standards is not set in stone, with Treasury's consultation giving advisers the opportunity to have their say on whether the equivalent degree requirement for all should remain.
January 12, 2022
Investor outlook optimistic despite another pandemic year
Despite another year of “pandemic-fuelled” uncertainty, research from Investment Trends shows investor outlook is optimistic.
January 12, 2022
SCA calls for retirement products to be included in advice review
The Quality of Advice review should be amended to include retirement income products if the Retirement Income Covenant expands the suite of products available, says Super Consumers Australia.
January 11, 2022
ASIC: Cancelling a license is a ‘fee-for-service’ model
The corporate regulator has detailed the process of cancelling a financial services license, reminding members of a PJC hearing that tearing up a license is not straightforward and involves checks and costs that need to be recouped similar to any fee-for-service arrangement.
January 11, 2022
Anderson takes charge at AFA as Morgan-Banda resigns
After getting a run as acting CEO for six months last year, the AFA's new chief executive, Phil Anderson, says he's keen to tackle the role in a permanent capacity and push the association's agenda with a broader range of stakeholders.
January 10, 2022
Treasury launches Standards site as FASEA shut down
Advisers will now be able to access information about the government-mandated Code of Ethics and associated standards on a new site launched by Treasury over the break, as the Financial Adviser Standards and Ethics Authority's own site has been closed down.
January 10, 2022
Professional Planner: Top ten stories in 2021
The stories that delivered for Professional Planner readers fit a similar profile to most years, with industry news, regulatory and compliance breakdowns and issue-focussed analysis top of mind for advisers. Here are the top ten for 2021.
December 17, 2021
Hume to consult on 10-year degree exemption, new entrant changes
The Morrison government intends to follow Labor's lead and give advisers with 10-years of experience and a clean record an exemption from the relevant degree requirement. The industry's journey to professionalism is getting put on hold, while advisers in the middle of studying for degree equivalency have a choice to make.
December 16, 2021
How much damage would the ALP’s degree carve-out cause?
Debate has flared about the merits of Labor's plan to give experienced advisers a free pass on degree equivalency. Is the proposal a necessary concession, or a cheap carve-out that will unwind much of the industry's progress? "We want to call ourselves professional," one adviser says. "What other professional doesn't need a degree?"
December 14, 2021
How to support your client’s ESG preferences and stay out of ASIC’s way
In the wake of the REST case (where a member took the fund to court for failing to protect his savings against climate change), and FASEA's exhortation that advisers consider the "broader long term interests" of clients, no one can dismiss ESG considerations as a passing fad.
December 13, 2021
