Size matters in the war for advice talent
While small firms are the lifeblood of advice, the industry’s ability to recruit talent and grow hinges on whether it can build and sustain large, profitable businesses akin to the mid-tier in accounting and professional services. Neil Younger writes.
September 29, 2021
Investors keen on more sustainable options from advisers: Schroders
According to the Schroders' Global Investor Study 2021, over a third of investors would be inclined to increase their sustinable investments if their financial adviser provided more information on funds aligned with their sustainability preferences.
September 28, 2021
Advisers ‘overly influenced’ by fundie BDMs, Deloitte tells ASIC
Approved product lists and the proclivity of advisers to be sweet-talked by BDMs are inhibiting the fair distribution of fund mangement products, Deloitte said in its final report to ASIC.
September 28, 2021
Advisers, not associations, need to drive acceptance of the code
Individual advisers working alone and collectively will drive the profession’s ethical future, says Ethilogical Consulting principal Gordon Young and Zebra Tailored Wealth founder Alysia Laird.
September 27, 2021
Licensees to ‘run the gauntlet’ on reference checking: Holley Nethercote
New reference checking protocols will add another layer of compliance for licensees, but it's the risks around privacy and disclosure that have got financial services lawyers like Holley Nethercote's Samantha Hills concerned.
September 24, 2021
New advice student numbers ‘through the roof’: FASEA
If the exam pass rate holds up there'll be 18,000 qualified advisers by the end of 2021, FASEA CEO Stephen Glenfield tells Professional Planner. With more students picking up advice than ever, he believes the industry is poised to thrive after the authority disbands on December 31.
September 24, 2021
Advice reform a two way street: ASIC’s Longo
While ASIC is trying to make the regulatory settings for advice more manageable, chair Joe Longo said advisers will need to hold up their end of the bargain by complying with the "spirit" of new laws and promoting the industry.
September 22, 2021
What UK advice is getting right: CoreData
Since the Retail Distribution Review the UK advice industry has sharpened its proposition with better processes, more symbiotic relationships and a "joint world view" between advisers and their licensee networks, observes CoredData CEO founder Andrew Inwood. Australian advisers can get ahead of the curve on all these developments, he says.
September 22, 2021
Bill to cut ‘competing’ advice oversight bodies: Hume
"There are so many oversight bodies in financial advice now I can barely remember them all," admitted the senator, who said the Better Advice Bill would streamline the industry and be the first step in making life easier for advisers. Shortly after, ASIC chair Joe Longo revealed a new advice hub is being developed for the regulator's website.
September 21, 2021
Learning new tricks: FASEA uplift part of the journey
He describes the FASEA exam as "a bit brutal", but 23-year advice veteran Tony Gillett reckons the Code of Ethics is the best thing that's ever happened to the industry. He sits down with AFCA’s June Smith to discuss the growing pains that come with lifting professional standards.
September 20, 2021
Advice reform detractors need to move aside
Those who believe the industry can survive and prosper with a diluted version of the ethics code are unrealistic and out of touch with what the community expects and deserves, says Robert MC Brown. The Code of Ethics is the future of the profession of financial advice. It should be embraced in good faith, with enthusiasm and confidence.
September 17, 2021
Managed account FUM surges behind advice push
The total funds under management in the managed account sector grew $15.8 billion in the six months to July 1, reaching $111 billion according to research from the Institute of Managed Account Professionals in conjunction with actuarial consultancy Milliman.
September 15, 2021
