Crypto inches towards advice ecosystem with Bragg report
Even if the speculative nature of crypto investment could be accomodated in a client portfolio, advisers say, satisfying the Code of Ethics requirement that clients understand the "benefits, costs and risk" is problematic unless both parties are subject matter experts.
October 21, 2021
The pendulum has swung too far: AMP’s Lawler
Despite doing some major heavy lifting to sign on for robust compliance and professional standards, the delivery of advice itself remains complicated – and laden with paperwork. AMP's head of advice, Matt Lawler writes.
October 20, 2021
Beware rising interest rates: Mercer’s Bryant
More than a decade of falling interest rates has led to yield convergence and asset values being driven up. Mercer President, Pacific Region and CEO Australia David Bryant warns super funds need to be cautious about what happens next.
October 19, 2021
ALRC warms to a more principles-based Corps Act
There are risks in moving towards a more principles based regulatory system, the ALRC notes, but as the Corporations Act has evolved into a document read by AFSL holders rather than lawyers, the need to make it shorter and more navigable has grown.
October 19, 2021
7-year project highlights advisers’ view on crisis intervention role
Advisers see themselves as crucial providers of ongoing crisis managment services according to a landmark ongoing study being undertaken at Griffith Business School.
October 18, 2021
HUB24 swoops on Class
HUB24 has acquired cloud-based accounting, investment reporting and administration software company Class in a move designed to broaden the investment platform provider's footprint in the wealth management space.
October 18, 2021
Pro bono advice network takes on new chair, new direction
With a new chair leading the charge for a broader adviser base, PFAN has its sights set on putting more people in dire need of advice in front of the those willing to lend a helping hand. "Advisers don’t need to think of these clients as an anchor on their book," Nicola Beswick says.
October 14, 2021
ASIC extends RoA relief measure
The regulator has extended pandemic-related relief measures around broader use of RoAs and the longer timeline to produce time-critical advice SoAs.
October 14, 2021
Break ‘old codes’, make money sexy again: Thinkerbell founder
Financial planners and investment managers should drop the boring 'old codes' of financial services and adapt to the new world where authenticity and pro-social endeavours come to the fore, said the creative agency co-founder.
October 13, 2021
ETFs post 37pc YoY growth on the way to $129B in AUM
The domestic exchange traded funds market continued its surge with $9 billion in cash flows across Q3 according to figures released by the ASX and Vanguard, with the sector now representing over $129 billion worth of investments in Australia.
October 12, 2021
FSC launches final plan to save unprofitable advice industry
The FSC pitched its final suite of reforms – including the abolition of safe harbour steps, a reissue of the Code of Ethics and swapping SoAs for 'Letters of Advice' – after KPMG reported that the advice process is a loss making venture, while the council's 'simple verse complex' advice demarcation plan has been scrapped.
October 12, 2021
