War on scams rises up agenda while DBFO languishes
Legislation tabled in Parliament to fight the “war on scams” shows financial advice has further fallen behind the government’s legislative agenda, Chris Dastoor writes. While the anti-scams law has merit, its introduction comes while neither Treasury nor Minister for Financial Services Stephen Jones can give a timeframe for the next tranche of Delivering Better Financial Outcomes legislation.
November 07, 2024
CSC MySuper returns 9.1 pc in FY24
Commonwealth Superannuation Corporation has released its annual report for the 2024 financial year, posting a 9.1 per cent return for its Balanced MySuper option.
November 07, 2024
Fair Work case highlights the risks with offshoring
A recent Fair Work Commission case has shown that businesses will still be required to meet Australian employment law, even when using offshore talent. The ruling shows that it is essential for advice practices to do proper due diligence off outsourcing systems, whether it’s by using third-party providers or by trying to hire direct.
November 06, 2024
ASIC loses court case against former Dixon director
ASIC will have to cover the legal costs of former Dixon Advisory director Paul Ryan after the Federal Court ruled against the regulator’s findings that he acted in the interest of parent company Evans and Partners over Dixon creditors.
November 06, 2024
DBFO is well-intentioned, but misses the point
Although there is nothing wrong with easing the regulatory burden for professional advisers, Robert MC Brown writes the purpose of the Delivering Better Financial Outcomes legislation has largely missed the point. The original stated goal of improving accessibility and affordability of advice is unlikely to be achieved.
November 05, 2024
FAAA reveals further details on FPSB India partnership
The Financial Advice Association has revealed further details on its memorandum of understanding (MoU) with FPSB India, a subsidiary of the Financial Planning Standards Board, to promote cross-border mobility and development for aspiring and professional financial planners.
November 05, 2024
Coalition tables surprise QAR legislation: ‘Just the starting point’
The Coalition’s bill to replace Statements of Advice will give crucial red tape relief the advice community has begged the government the last few years for, bill co-author Bert van Manen tells Professional Planner. While the opposition’s legislation attempts to seize on the slow advice reform process, the government is still backing in its own wider-ranging package.
November 04, 2024
US election pivotal but experts warn against catastrophising
Just days out from the 2024 US presidential election, the two major candidates both have multiple pathways to success and in an incredibly tight race such as this, any slight shift in voter sentiment could significantly tip the scale. Leading academics dissect the political dynamics at play and explain why despite the importance of the election, we should avoid catastrophising.
November 04, 2024
CFS partners with Viridian to help unadvised FirstChoice members
Colonial First State has announced an arrangement with Viridian Advisory to allow CFS FirstChoice superannuation, pension and investment members who do not have a financial adviser to access one-off, topic-focused advice.
November 04, 2024
Insignia nabs TAL talent for new MLC strategy team
Insignia Financial has picked up talent from life insurer TAL to create a new strategy and innovation team with a focus on driving innovation in retirement solutions for the MLC Wealth brand.
November 04, 2024
