ASIC drops ROA guidance, sets ‘significant change’ parameters
The guidance, which sets out real-life examples demarcating client circumstances that are appropriate for ROA usage, is the first real output from ASIC's consultation on access to affordable advice since its one-page infographic on the findings.
November 10, 2021
Fortnum’s Ray Miles hangs up his boots after 51 years
After an extraordinary 51 years in financial services, the no-nonsense industry stalwart who founded Associated Planners and Fortnum Private Wealth has announced his retirement.
November 10, 2021
The seeds of a profession have been sown
Trawling through the archives, Simon Hoyle recounts a decade-old blueprint for advice as a profession. Mapped against current settings, he says, it's clear the three pillars of professionalism have been set and the ground has been well and truly "fertilised" for a healthy advice ecosystem.
November 09, 2021
Big 5 licensees lead adviser number loss columns
Five of the country's six largest licensee owners dominate adviser losses in 2021, with declining numbers at the major groups remaining "out of kilter" with the market as a whole according to Wealthdata director Colin Williams.
November 09, 2021
Reform by gaslight: Why the FSC’s plan for advice doesn’t add up
The FSC's white paper is neither entirely without merit nor entirely self-interested, but it is fundamentally flawed because it continues to prioritise distribution over advice and ignores the historic consequences of that choice. Sean Graham writes for Professional Planner.
November 08, 2021
SMSF scammers on the prowl: Maroney
The SMSF Association's chief executive reveals an experience that highlighted just how active scammers are becoming, and the crucial role advisers play in protecting consumers from harm.
November 08, 2021
Client best interest already trumps conflicts
The continuous debate over Standard 3 would be simpler if conflicts were subordinated to client best interests in the Code of Ethics, which experts have highlighted is already the case.
November 05, 2021
Shuttleworth on Centrepoint’s future and what he tells his daughter’s boyfriend
The industry veteran got a warm start at Centrepoint after working as a consultant with the board, which came in handy when talks to buy Clearview's advice network gathered pace. He speaks to Professional Planner about running the now-fifth largest licensee in Australia and the sage words of advice he had for his daughter's university-age boyfriend.
November 04, 2021
FASEA puts Standard 3 alternatives to industry
After years of defending the treatment of conflicts in its Code of Ethics – and less than two months before it's disbanded – the authority today released a consultation paper proposing alternatives to its requirement for advisers not to "advise, refer or act" where a conflict exists.
November 03, 2021
Number of advised dropping 100K per year: Investment Trends
An estimated 12.6 million Australians now have unmet advice needs, the researcher notes, with 40 per cent saying they can't afford advice and more people leaning on their super fund for guidance.
November 03, 2021
Beyond the ‘mega-tech’: In search of the next global equity growth opportunities
Fund managers are looking beyond the strong performing mega and large public companies to offer growth alternatives for investors.
November 02, 2021
Praemium rebuffs Netwealth’s $785m merger offer
Praemium has rejected an "unsolicited" $785 million merger offer from fellow investment platform provider Netwealth, saying the proposal undervalues the business and isn't in the best interests of its shareholders.
November 02, 2021
