Fix conflicts before making advice more accessible: Consumer group
The consumer lobby group suggested policymakers and regulators focus on scrubbing conflicts out of advice, rather than easing regulatory constraints, in order to make advice more accessible and affordable.
February 04, 2021
ASIC’s adviser levy getting out of hand: FPA
ASIC's adviser levy is not only increasing at a rate that is unsustainable for the industry, the association says, but the predicted bill consistently bears little relationship with the final amount.
February 04, 2021
FASEA’s demise: Be careful what you wish for
Industry leaders should endorse the spirit and substance of the Code of Ethics and accept that there will be inconvenient commercial consequences for some of the industry’s participants, argues Robert MC Brown.
February 03, 2021
Advisers can learn from general insurance brokers: Oliver Wyman
The management consultancy behind AMP’s cultural reset says the ‘key to success’ for Australian advisers is to take lessons from the general insurance brokerage industry, as well as heed the experience of advisers in the UK and US.
February 02, 2021
Advice sector forefront of red tape issues: Law Reform Commission
The ALRC has released the first interim report of its three-year inquiry into financial services laws, with every single example used to demonstrated overly complex and prescriptive guidance linked to financial advice.
February 01, 2021
Hume keeps door open on super contributions freeze
The minister reiterated the government’s plan to make a call on the SG rise closer to July 1 when the “trade off” with wage growth is clearer, while shadow minister Stephen Jones said the current level “just won’t get us there”.
January 29, 2021
Mota unfazed by IOOF’s $1.3b Q2 advice FUM loss
CEO Renato Mota seemed relatively sanguine about the loss, with IOOF content to shed advice groups that don't fit its 'Advice 2.0' model in the lead up to finalisation of the MLC acquisition in July.
January 28, 2021
Rice Warner doubles down on advice complexity proposal
The actuarial consultancy followed up its August advice report for the FSC with a submission to ASIC repeating its call for advice, compliance and education to be separated according to measures like complexity and risk.
January 28, 2021
Adviser salaries set to soar as industry contracts
Average salaries for advisers are expected to jump from the $90k to $130k band up to between $120k and $150k in 2021 as the adviser cohort shrinks further. But income is only the fourth most important consideration for advisers in the pandemic era.
January 27, 2021
Kaplan doles out free FASEA exam prep tools
Education provider Kaplan has announced free examination support for advisers who are yet to successfully complete the FASEA exam requirement, which all advisers must do before January 1, 2022.
January 22, 2021
‘It’s just too hard to stay in the insurance advice business’
As the planner exodus continues, Professional Planner talks to Jeremy Wright, a 59-year old insurance adviser set to abandon his ASIC registration on January 1, 2021. “This is like a bloody communist state,” he says.
January 22, 2021
