Advisers have ‘no appetite’ for digital advice: ASIC
Feedback from the regulator’s consultation into affordable advice reveals advisers are keen on regtech but have little interest in digital advice because it costs too much and consumers aren't interested.
April 14, 2021
More RoAs, less ‘turgid’ guides: ASIC reveals advice consultation takeaways
An expanded RoA regime is one of many actions ASIC is considering after trawling through almost 500 submissions to its landmark consultation paper on access to affordable advice. Another – the need to fix its own “turgid” guidance documents.
April 13, 2021
AMP’s Hartley discusses future business model with advisers
The new AMP Australia CEO wasted no time meeting with his adviser cohort to discuss the way forward, with changing business models and competitive products high on the agenda.
April 12, 2021
Managed account FUM nears $100B
Funds under management in managed accounts reached $95.2 billion by December 2020 according to the latest figures from IMAP, and are likely to cross the $100 billion dollar mark at any time depending on the performance of markets.
April 12, 2021
Transforming a shrinking industry into a growing profession
Many industry participants are inclined to blame ASIC and the government for the advice deficit when, in fact, the blame lies squarely at the feet of the industry, says Robert M.C. Brown.
April 09, 2021
IOOF goes the stack route, wary of ‘stretching’ advice tech
Darren Whereat is building out what is likely going to be the most widely used advice technology suite in Australia over the next five or so years. IOOF will be leveraging scale for new solutions, but that doesn’t mean Xplan is old news – yet.
April 08, 2021
Insurance commissions should go: ALP
Shadow finance minister Stephen Jones said proving that a commission-based model can function without conflicts is an “enormous challenge”. While open to the findings of the 2021 insurance review, he made it clear the ALP has every intention of getting rid of commissions holus-bolus if elected in 2022.
April 08, 2021
From $1K to $10K: Adviser exam cost dissected
The individual experience of advisers going through the exam process varies wildly, reports CoreData's Simon Hoyle. That doesn’t make the experience wrong, or designed to suit some predetermined narrative about the impost of the industry exam. It’s just how it is.
April 07, 2021
The back road to advice: Nicola Beswick
Nicola Beswick's career path took her through science, technology and law before her father's MS diagnoses brought the benefits of sound financial planning to her attention.
April 06, 2021
Capacity a ‘ticking legal time bomb’ for advisers
Forty per cent of people are affected by at least a mild cognitive form of impairment according to lawyer Michael Perkins, which means a lot of SOAs are being signed despite capacity issues. Without obvious signs, should advisers be expected to make a medical diagnoses?
April 01, 2021
The role past performance plays in investment decision-making
For 25 years Paul Moran heard that ‘past performance doesn’t relate to expected future performance’. The adviser finally decided it was time to find out how much influence past performance really has on investor decision-making.
March 31, 2021
