ASIC offers FSG clarification after DBFO leaves ambiguity
ASIC has clarified the distribution of Financial Services Guides is not required when dealing in financial products as a result of providing financial advice. The Financial Advice Association welcomed the distinction but noted that it is temporary measure and hoped the government will step up with a permanent fix.
October 25, 2024
AMP makes senior hires in super and investment team
AMP has made two senior appointments to its super and investment team, reporting to group executive of the division Melinda Howes.
October 25, 2024
CALI board elects co-chair and three directors
The board of the Council of Australian Life Insurers has appointed MLC life insurance chief executive Kent Griffin as co-chair, sharing the position with AIA Australia CEO Damien Mu.
October 25, 2024
Treasury AI review little cause for concern for advisers
A profession-wide, cautious approach to compliance means the overall advice ecosystem should be ahead of the curve if the government modifies consumer law to further support the safe and responsible use of AI by businesses.
October 24, 2024
‘Long feared’: CSLR subsector levy to blow $20m cap
The Compensation Scheme of Last Resort has estimated the FY26 cost recovery levy to exceed the $20 million cap, meaning the government will have to use its discretionary powers to cover the excess. The Financial Advice Association has called for any surplus to spread across a broader range of sectors.
October 23, 2024
IMF warns of liquidity issues in super
The International Monetary Fund has warned that “liquidity mismatches” are brewing within Australian super funds, as the UN finance agency expressed worries that members might be able to switch out of investment options with too much flexibility considering funds’ substantial investments in illiquid assets. But super industry leaders say the nation’s unique system is well-equipped to handle itself.
October 23, 2024
The confidence game: Taking charge of client conversations on pricing
As the cost of doing business continues to rise, advice practices need to keep on track with their own pricing. Advice business consultant Richard Abbey writes having conversations with clients about fees doesn’t have to be awkward and is a further opportunity to articulate the benefits of the service provided.
October 22, 2024
