Advice on the cusp of a new RoA era
The regulator has signalled its intention to expand the RoA regime with several key developments this week aimed at reducing the role of statements of advice in the advice compliance spectrum.
April 16, 2021
Advice business models stifling annuity take up: Study
New research out of Melbourne shows how important advisers are in presenting annuities as a viable option to consumers. Advice business models, however, are often blocking the path for these products to reach consumers.
April 15, 2021
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
