Conflicts of interest ‘an issue’ in managed accounts: ASIC
The corporate regulator’s investment leader flagged managed account fee complexity and the potential for conflicts therein as a major concern. A report won’t be forthcoming, he said, but "policy and regulatory settings" may be updated.
December 05, 2019
Senate Inquiry: APRA, Westpac and heatmaps
APRA chair Wayne Byres told a parliamentary hearing on Monday that broader enforcement powers have allowed APRA to achieve better results.
December 05, 2019
Low bond returns spark calls for risk profile rethink
Advisers need to make a bigger distinction between risk averse and capital return seeking clients now because low-risk options aren’t giving 3 to 5 per cent returns, a panel has heard at the Professional Planner Researcher Forum in Sydney.
December 04, 2019
Less than half of planners are planning ahead
If advice principals are to ride the waves of disruption they need to get better at writing effective, flexible business plans, insights from Business Health's upcoming 'state of the industry' report reveals.
December 03, 2019
Most super fund advice not in clients’ best interest: ASIC
The regulator was relatively sanguine about a study revealing only 49% of superannuation fund advice files reviewed demonstrated full compliance with best interest duty.
December 03, 2019
More platform discounts to come: UBS
A wave of new market entrants with cut-price fees are putting the clamps on Netwealth and HUB24, while the incumbent platform providers continue to hemorrhage funds.
December 02, 2019
[Part 2] Voices of experience: Advice legends tell their stories
In the second part of our series on the voices of experience in wealth management, we continue the conversation with industry stalwarts about how we got here and what the path to professionalism looks like.
December 02, 2019
AFCA won’t get ahead of ethics code
The complaints authority’s deputy chief ombudsman, June Smith, called it the elephant in the room; what would AFCA’s approach to FASEA’s Ethics Code be on 1 January, 2020?
November 29, 2019
12 month road-test likely for Code of Ethics
The authority’s CEO, Stephen Glenfield, said the current standards are “not set in stone" but he is keen to see them bedded down before requesting any legislative amendment.
November 28, 2019
Code of Ethics oversight not an ASIC priority
FASEA’s Code of Ethics takes effect from January 1, but ASIC doesn’t have the inclination or the resources to check whether licensees are monitoring advisers.
November 28, 2019
‘Regulators don’t make a profession’: Industry rises above
A global panel of advice experts joined on stage to open the FPA Congress in Melbourne after CEO Dante De Gori highlighted the association's regulatory wins for 2019.
November 27, 2019
