Expanded CSLR the wrong ‘jenga-block’: Hume
The minister shot down hopes of extending the planned Compensation Scheme of Last Resort, saying that including Managed Investment Schemes would coddle investors and disrupt the founding principles of risk and reward.
November 24, 2021
ASIC set to change view of key Standards in 2022
The "facilitative" approach to compliance with Standards 3 and 7 will end with the rollout of the industry's new disciplinary body in January, despite lingering uncertainty around the Code of Ethics. The sharpest change for advisers, according to the AFA's Phil Anderson, might be the way ASIC views the fair value trade between them and their clients.
November 23, 2021
Documentation is the bridge to the other side
Standard 8 in the Code of Ethics asks advisers to keep clients’ records in a complete and accurate form. While this may sound simple, it takes time to prepare according to Park Lane Advice Group director John Scukovic and Western Sydney University's Michelle Cull.
November 22, 2021
Small steps the key to advice practice marketing plans
There's a lot of work that individual advice firms can do to bolster their image, Claudia Pritchitt says. A marketing and communications plan with simple steps can go a long way, and it doesn't necessarily require more time and money than you can afford.
November 19, 2021
Well done, advisers: AFCA
The Australian Financial Complaints Authority has given the advice industry a pat on the back after complaints about advisers dropped by a third since June 1.
November 18, 2021
Why now is the time for advisers to consider private equity
Private equity investing is rising in prominence as some of the world’s largest pension and superannuation funds reach for greater exposure.
November 18, 2021
Advice regulation cost forecast to increase $15M
The cost to regulate advice looks set to rise dramatically this year, with ASIC's new internal monitoring unit yet to reign in expenses and Treasury's scheduled funding model review still to come. Fortunately for advisers, most of the burgeoning costs will be mitigated by relief measures announced in August.
November 17, 2021
Financial services scores low on ethics index, media scores lower
The financial services sector is perceived as being in the lower half of the ethical spectrum compared to other industries according to the Governance Institute's 2021 Ethics Index, with its 'ethical score' placing it above only the resources sector, large corporations and... media.
November 17, 2021
Why advisers should understand the insourcing trend at large super funds
As super funds continue favouring in-house investment expertise, advisers recommending them in good faith and with competence need to understand the inherent complexity inside these behemoths. These funds are anything but light touch from a due-diligence perspective. Annika Bradley writes for Professional Planner.
November 16, 2021
