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
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
Advice support staff salaries rise in WFH era
The demand for experienced support staff that can 'plug-in' straight away has increased during the work-from-home era, as difficulties training inexperienced staff remotely have emerged.
October 11, 2021
Advice ‘triage’ services to offset onboarding woes in 2022
New clients will drive growth in the year ahead, but advisers say onboarding is fast becoming “harder, longer and more expensive”. To make things easier, more practices are setting up advice 'triage' services to keep prospective clients connected and get them prepared for the full suite of services.
October 08, 2021
Oreana surges as IOOF, AMP and NTAA lose advisers
Mid-tier licensee Oreana Financial Services has postd the biggest growth in advisers numbers so far in 2021 according to researcher Wealthdata, with the group's success contrasting against stark losses for the large institutions in advice.
October 08, 2021
Advice is a lonely business, but I love it: Infocus CEO Darren Steinhardt
Like most success stories, the impressive numbers for Infocus belie the hardship and the graft. It hasn't been easy, Steinhardt says, with "a lot of trial and error", and despite the strength of the licensing venture there are still tough days for the affable CEO.
October 07, 2021
Self-regulation is still a way off
Advisers are early on the journey to self-regulation but a two-tiered approach going forward may be the answer according to Moran Partners principal Paul Moran and business ethics academic Tracy Wilcox.
October 06, 2021
15 groups unite for stronger CSLR scheme push
A consortium of 15 consumer groups and professional associations have banded together to call for a broader compensation scheme, despite financial services minister Jane Hume recently ruling out any expansion of the planned compensation frameworks arrangment.
October 06, 2021
ASIC: ‘No idea’ when advice disciplinary panels should be convened
With the government still waiting for advice on how the Single Disciplinary Body plan should work and under what circumstance ASIC's FSCP should convene panels to assess Code breaches, it's little wonder ASIC seems nervous about its implementation.
October 05, 2021
Prime commercial property can de-risk and balance your portfolios
With cash going nowhere, stock markets looking volatile and residential markets priced through the roof, experts say commercial buildings now have a strong role to play in de-risking and diversifying investor portfolios.
October 05, 2021
‘About time’ for a Productivity Commission review into insurance in super
Australia needs a review into the purpose of insurance in superannuation, to build a common understanding and prevent members unwittingly falling through the cracks.
October 04, 2021
