Coalition pitches reversal of own policies to advisers
Decrying “regulatory changes from successive governments” the Coalition has announced it will create a deregulation taskforce for financial services. It’s part of an ambitious aim to reform advice and boost adviser numbers to 30,000, largely reversing unpopular laws implemented the last time it held government.
April 14, 2025
Referral relationships must be ‘based on trust’
Advisers must ensure their referral relationships are “based on trust”, rather than financially driven, as a poor referral could result in losing the initial client. CoreData Research found advisers lean most on their own professional relationships when they need to refer clients to services they can’t provide in-house.
April 14, 2025
Trump delivers a new golden era
As US President Donald Trump’s “Liberation Day” rocked global share markets by unleashing sweeping tariffs on every trade partner, Betashares senior investment strategist Cameron Gleeson writes gold has continued to offer investors a safe haven.
April 14, 2025
ETFs are gaining popularity with SMSF crowd
SMSF trustees cite diversification benefits as a core factor driving up their allocation to ETFs but there are several other reasons including liquidity, low fees and ease of access.
April 14, 2025
Charting the course to professionalism
National advice firms and licensees are strongly positioned to work with advisers to develop charters that set out their mutual expectations and obligations and, in doing so, accelerate the industry’s journey to professionalism, writes Fitzpatricks Advice Partners general manager Jasia Fabig.
April 11, 2025
Digital advice providers pivot from super funds to advice practices
The past week has seen dual plays in the digital advice space with providers pivoting towards the financial planning market, having spent the past couple of years trying to court super funds.
April 11, 2025
Platforms made call to suspend Venture Egg adviser payments while ASIC investigates
Trustees of the platforms that held the Shield and First Guardian funds made the choice to suspend payment of adviser fees to Venture Egg rather than await a directive from the regulator. But Ferras Merhi, the director and principal adviser of the troubled firm, is still listed on the ASIC Financial Adviser Register with a potential banning order expected to take time to finalise, if it does commence.
April 10, 2025
ASIC consulting on plans to include licensee names in breach reporting data
The regulator is consulting on plans to publish two dashboards covering breach reporting and Internal Dispute Resolution data that includes the names of licensees. ASIC Commissioner Alan Kirkland believes publication of the data will encourage firms to “lift their game” as industry engagement from the previous three years has been unsatisfactory.
April 10, 2025
FAAA follows suit on FSC’s ‘red tape razor gang’
The Financial Advice Association Australia has followed suit on the Financial Services Council’s recommendation to introduce a “razor-gang to cut red tape”, believing that despite the Hayne royal commission being well-intentioned, much of the regulatory increase has "not hit the mark”.
April 09, 2025
Licensees show mixed reaction to SOA replacements
Liable for managing compliance risk, the replacement for Statements of Advice has split licensees. Some claim the proposed changes are no more than a “name change” while others believe it is a “step in the right direction”, but all agree there is no material difference to the current requirements.
April 08, 2025
SMSF trustees warned to stay vigilant as cyberattackers target super
The SMSF Association has called on trustees in the $1 trillion sector to “remain alert and proactive” amid heightened cybersecurity risk after malicious actors attacked the country’s major super funds.
April 08, 2025
