Simple vs complex advice model raises concerns
FPA chief Dante De Gori and Paragem CEO Nathan Jacobsen expressed reservations about Rice Warner’s Future of Advice report, which suggests separating personal advice into ‘simple’ and ‘complex’ categories.
October 20, 2020
From survival to growth mode: Navigating advice post-pandemic
The crucial part of navigating change is doubling down on your strengths, knowing who your clients are, how you articulate value and whether it works for those clients or not - Simon Hoyle and Lena Ridley discuss transformation in the first episode of The Shape of Advice.
October 20, 2020
Government working to unravel ‘Gordian knot’ of advice regulation: Hume
The minister said the Treasurer and her department are working together with ASIC and industry bodies – who she praised for presenting a united voice – to make the “tortuous journey” of reform easier for advisers.
October 20, 2020
Licensees stifling practice acquisitions over compliance concerns
Advice firms looking to build scale are being told to involve their licensees early when acquiring businesses, as tighter compliance benchmarks make it harder to get deals across the line.
October 19, 2020
The ability to understand: Elston’s Dean Ireland
“Our industry is filled with jargon and constantly changing legislation," says Dean Ireland. The Elston Private Wealth adviser reckons clearly articulated, flexible plans are the key to keeping clients on board and engaged.
October 16, 2020
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.
October 15, 2020
ASIC wants to know what’s holding up ‘bite-sized’ advice
The regulator will consult with industry on what’s blocking the provision of limited advice, which it says consumers want more of. According to ASIC’s advice lead, Kate Metz, word on the street is that licensees are the ones getting in the way.
October 14, 2020
Financial advisers ‘like politicians’: Hume
The Senator diverged from a discussion on the government’s plan to broaden regulatory reform and narrow the advice gap to share an anecdote about how she believes people view the profession.
October 13, 2020
$3,558 per client, per year; the new normal
Research into the advice market suggests a new benchmark for revenue per-client that can be used as a prompt for advisers to check in on their own remuneration. It's also a stark reminder of how increasing costs are affecting advice businesses.
October 12, 2020
Kate Golder: Part planner, part counsellor
“The most important lesson for me is to control the things you can, and not let the things you can’t control stress you," says the Alteris adviser and partner. She admits, however, that it's often easier said than done.
October 09, 2020
No regrets, no zombies: What the budget got right and wrong
Why is the government "betting the house" on a private sector led recovery, asks Grattan Institute CEO Danielle Wood, when consumer confidence is the key to Australia's economic revival?
October 08, 2020
Stapled super to pile pressure on small to medium sized industry funds
While super stapling is a natural industry progression and a plus for consumers, the changes will curb some of the benefits smaller industry funds rely on to survive, which could further accelerate merger activity.
October 07, 2020
