IOOF rebuffs product subsidy accusations as licensee heads bristle
IOOF’s decision to offer discounted fees to MLC advisers has been labelled a failure of leadership amid accusations it will be funded by continued product subsidisation. Not so, says IOOF head of advice Darren Whereat; “There are no freebies, we’re just offering advisers certainty.”
September 29, 2020
The importance of downtime: Jason Featherby
Advisers need to listen and show empathy says Perth adviser Jason Featherby. Spending time with the family and keeping up with your hobbies helps advisers stay balanced and maintain this level of engagement, the Knight Financial boss believes.
September 28, 2020
Kerry Kennedy on corporate responsibility and shoelace equality
The lawyer and human rights activist flagged the role of business leaders in leading the fight for racial and gender equality, while also revealing how the death of her father and her unorthodox childhood shaped her beliefs.
September 25, 2020
Three things advisers should know before going virtual
On a global webinar with an audience of 1,000 CFPs, Newcastle planner Adele Martin revealed the most important things to remember before taking an advice business wholly online.
September 24, 2020
PI insurance market tipped to turn mid-to-late 2021
Specialists say it’s the hardest professional indemnity insurance market for advice in 20 years, with annual premiums starting at $10,000. But a stabilised economy and improved compliance levels could see insurers come back into the fold and premiums soften in 2021.
September 23, 2020
ASIC provides relief to Victorian advisers
Financial advisers in the beleaguered state will have until December 7 to fulfil their FDS and renewal obligations after the corporate regulator announced a 'no action' stance due to difficulties associated with the severe lockdown.
September 23, 2020
Regulatory reform, but not as you know it
The ALRC’s financial regulation review won’t follow the normal template, lawyers say, as the focus will be more on structure than policy. This may mean a swing back towards more prescriptive regulation for advisers, but don’t hold your breath for a quick result.
September 22, 2020
ASIC tells fundies to be ‘true to label’
ASIC has cracked the whip on misleading fund managers after surveying 37 funds with a total of $21 billion under management. Being true-to-label is a "must have", not a "nice to have", said deputy chair Karen Chester.
September 22, 2020
‘Vanilla’ AFSL prices surge as advisers disperse
Empty AFSL’s with no client books have gone from having virtually no value to being sold for an average of $70,000, with ex-institutional advisers clamouring for an independent ticket yet reluctant to wait on ASIC to approve a new license.
September 21, 2020
Institutions absent in Licensee of the Year award
GPS Wealth and Affinia were the big winners at this years' awards, while no award was given for the Institutionally Branded Licensee of the Year due to "an insufficient number of qualifying licensees".
September 18, 2020
