Professionalism: Be careful what you wish for
ALRC President Hon. Justice Sarah Derrington warned guests at the 2021 Licensee Summit that if increasing professionalism is an aspiration for the advice industry, it should also be prepared for the extra focus on fiduciary duty that will come with it.
June 07, 2021
Same language, different dialects: Advice industry wasting energy on ‘competitive parity’ elements
Industry participants are expending energy on things like unique fact finds and legal interpretations that add no value to the client, panellists argued, without focussing on what really adds a comparative advantage – the advisers.
June 07, 2021
Licensee Owners List 2021: Licensees in motion
Look past the gaudy exodus numbers and it becomes clear a new shape to the advice industry is emerging. Existing models are being upended, regulatory boundaries are being redrawn and the very purpose of licensing is being reimagined. Amidst the fragmentation, a new crop of licensees are emerging that are unencumbered by the past and looking to the future.
June 03, 2021
FASEA to refund ‘unexpended’ resources to contributors
The eight institutions that fund FASEA will have any unexpended cash returned on July 1, yet the body is scheduled to continue until the end of the year.
June 03, 2021
AFA: Sweating the small stuff too costly for the SDB
If the proposed single disciplinary body goes after all breaches of law, FASEA standards and the code of ethics its cost will balloon and eventually trickle down to advisers, the association says.
June 02, 2021
Magellan systematizes bucket strategy with FuturePay play
CEO Brett Cairns explained a product design that essentially formalises a basic investment strategy – setting aside a cash reserve "to help support income in fall-back positions". Investors will be blocked from retrieving their contribution to the cash bucket, however.
June 01, 2021
‘No mean feat’: Mota confident on 406 adviser transition to IOOF
Both businesses have more in common than they do differences, CEO Renato Mota told Professional Planner shortly after IOOF announced it had completed the MLC deal Monday. 84pc of the 'target set' of advisers will transfer to IOOF licensees on day one.  Â
May 31, 2021
$1,000 per year: The adviser trialling an admin support retainer
After completing FASEA’s ethics course Paul Stephan decided many of his clients shouldn’t be paying for comprehensive advice. Since then, he’s been offering a support service on retainer that can be switched back to comprehensive personal advice as required.
May 28, 2021
ETF warning: Make sure the label matches what’s in the tin
Investors, advisers and ultimately the regulator should all be paying closer attention to the underlying construction of ETF products according to Zenith Investment Partners' Dugald Higgins, who warns that many don't stick as close to the sector they're purportedly mirroring as they claim.
May 28, 2021
