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
The three most powerful words an adviser can say
The financial advice profession exists because of uncertainty, so why are advisers desperate to eradicate it? Clients should feel a little bit disturbed, says Paul Moran.
November 01, 2021
ASIC sets ground rules for crypto operators
ASIC has begun the difficult task of setting regulatory ground rules for product issuers and market operators with the release of crypto-asset related investment product guidance.
November 01, 2021
Unregulated retirement tool proposed for ‘middle’ retirees
A low-cost, standardised modelling tool sitting outside the regulatory system would provide guidance to people that retire without access to a financial adviser according to The Conexus Institute's David Bell and UNSW Business School professor Pamela Hanrahan.
October 28, 2021
CBA retreats as AIA gears up for scaled back advice offering
While the nation's biggest bank has completed its retreat from retail wealth management, insurance giant AIA Australia will pick up its clients and offer advice to "lower to middle-income Australians" with "simple wealth needs".
October 27, 2021
Treasury drafts new advice peer review crew
After the old FSCP cohort was disbanded in July, Treasury is under the pump to restock it with industry representatives before it starts policing the Code of Ethics in the new year. Helping it are the industry associations, who've been asked to nominate potential candidates.
October 26, 2021
