Feedback from the regulator’s consultation into affordable advice reveals advisers are keen on regtech but have little interest in digital advice because it costs too much and consumers aren't interested.
An expanded RoA regime is one of many actions ASIC is considering after trawling through almost 500 submissions to its landmark consultation paper on access to affordable advice. Another – the need to fix its own “turgid” guidance documents.
Darren Whereat is building out what is likely going to be the most widely used advice technology suite in Australia over the next five or so years. IOOF will be leveraging scale for new solutions, but that doesn’t mean Xplan is old news – yet.
The individual experience of advisers going through the exam process varies wildly, reports CoreData's Simon Hoyle. That doesn’t make the experience wrong, or designed to suit some predetermined narrative about the impost of the industry exam. It’s just how it is.
Forty per cent of people are affected by at least a mild cognitive form of impairment according to lawyer Michael Perkins, which means a lot of SOAs are being signed despite capacity issues. Without obvious signs, should advisers be expected to make a medical diagnoses?
After teaming up with Rice Warner to propose ‘simple’ and ‘complex’ personal advice last October, the FSC has brought in an external research team to find out if the idea would resonate with consumers.