Industry

Technology

Advisers have ‘no appetite’ for digital advice: ASIC

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.

Tahn SharpeApril 14, 2021

Industry

More RoAs, less ‘turgid’ guides: ASIC reveals advice consultation takeaways

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.

Tahn SharpeApril 13, 2021

Industry

AMP’s Hartley discusses future business model with advisers

The new AMP Australia CEO wasted no time meeting with his adviser cohort to discuss the way forward, with changing business models and competitive products high on the agenda.

Tahn SharpeApril 12, 2021

Technology

IOOF goes the stack route, wary of ‘stretching’ advice tech

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.

Tahn SharpeApril 8, 2021

Industry

From $1K to $10K: Adviser exam cost dissected

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.

Simon HoyleApril 7, 2021

Industry

ASIC bans binary options for retail clients

The corporate regulator has banned the distribution of binary options to retail clients after it found that 80 per cent lost money over separate studies in 2017 and 2019.

Tahn SharpeApril 6, 2021

Industry

Capacity a ‘ticking legal time bomb’ for advisers

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?

Tahn SharpeApril 1, 2021

Industry

FSC brings in pollsters to look at ‘simple vs complex’ advice plan

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.

Tahn SharpeMarch 30, 2021

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