Carve-out not ‘watering down’ professionalism: Ministers
Both financial services ministers rejected the notion the education carve-out is a “watering down” of professionalism and that advisers “shouldn’t feel sore” about commencing potentially unnecessary education requirements.
January 31, 2022
‘Solution looking for a problem’: SAFAA rejects fixing wholesale investor rules
Despite growing calls for an overhaul of the wholesale investor rules to better protect consumers from predatory behaviour, the association argued that "no major benefits have been articulated".
January 31, 2022
Advice quality ‘materially better’ as compliance standards soar
"I’m not just offering anecdotal observations to mollify adviser complaints about compliance and complexity," Sean Graham writes. "Our data shows that, despite increasing compliance obligations, the quality of advice in 2021 is materially better than it was in 2020."
January 28, 2022
‘Intensely uncomfortable’: No future for vertical integration in intrafund advice
The shadow financial services and superannuation minister didn’t go as far as making a policy commitment to end vertical integration in infrafund advice, but said it’s something the industry super funds will have to inevitably accept.
January 28, 2022
Tug of war for CSLR coverage of managed investment schemes
Advice associations want to know why the CSLR shouldn’t be expanded to include MISs when the advice industry is already overleveraged with levies, but product representatives have pointed to advisers contributing more to unpaid determinations.
January 27, 2022
Insignia sheds 94 self-employed advisers, expects numbers to stabilise
While the group has been busy onboarding advisers into its licensee ecosystem, it's also been clear that practices that don't fit its model in terms of profitability and process would go. So far, most of those exiting advisers are from the group's self-employed network.
January 27, 2022
Open Finance launch to give consumers ‘holistic’ view: Treasury
Open banking will be extended to Open Finance in a move that should make it easier for consumers to share information across general insurance, superannuation, merchant acquiring and non-bank lending service providers.
January 25, 2022
2022 a year of transition: AustralianSuper CIO Mark Delaney
Prepare for a year in flux with inflation a major concern and investors shuffling portfolios away from equities, toward fixed income and overseas expansion according to AustralianSuper's chief investment officer Mark Delaney.
January 24, 2022
‘Tangibly angry’ advisers rally over degree carve-out plan
A growing cohort of advisers are speaking out against the proposal to water down education standards via submissions to the government's consultation on the scheme. "Advisers are tangibly angry about this," says one principal.
January 21, 2022
ASIC ETP consult aims to simplify process
Sticking to ‘primary’ and ‘secondary’ labels that define products based on type and risk, respectively, will help simplify exchange traded products but will fail to differentiate between active and passive management.
January 21, 2022
