Licensees

Licensees

ASIC gets flexible with licensees

The regulator highlighted a number of concessions it made to licensees affected by the pandemic in 2020, and said it "performed strongly" against its service charter despite a higher regulatory workload.

Tahn SharpeNovember 11, 2020

Licensees

Advisers face ESG legal risk as REST case settles

There is an “increasing risk” of actionable claims against advisers who don’t account for financial risk due to ESG factors, according to Mills Oakley lawyer Mark Bland. FASEA’s Standard 6 was a red flag, but the recent case against REST super has solidified the concern for advisers and licensees.

Tahn SharpeNovember 4, 2020

Licensees

From survival to growth mode: Navigating advice post-pandemic

The crucial part of navigating change is doubling down on your strengths, knowing who your clients are, how you articulate value and whether it works for those clients or not - Simon Hoyle and Lena Ridley discuss transformation in the first episode of The Shape of Advice.

Nina HendyOctober 20, 2020

Licensees

Licensees stifling practice acquisitions over compliance concerns

Advice firms looking to build scale are being told to involve their licensees early when acquiring businesses, as tighter compliance benchmarks make it harder to get deals across the line.

Tahn SharpeOctober 19, 2020

Licensees

ASIC wants to know what’s holding up ‘bite-sized’ advice

The regulator will consult with industry on what’s blocking the provision of limited advice, which it says consumers want more of. According to ASIC’s advice lead, Kate Metz, word on the street is that licensees are the ones getting in the way.

Tahn SharpeOctober 14, 2020

Licensees

Two standout reasons advisers consider switching licensees

Advisers are generally more satisfied with how their licensees are supporting them this year according to CoreData, but there remain two key service offerings that – if another licensee could provide them better – are significantly more likely to prompt an adviser to change dealer groups.

Simon HoyleOctober 6, 2020

Licensees

IOOF rebuffs product subsidy accusations as licensee heads bristle

IOOF’s decision to offer discounted fees to MLC advisers has been labelled a failure of leadership amid accusations it will be funded by continued product subsidisation. Not so, says IOOF head of advice Darren Whereat; “There are no freebies, we’re just offering advisers certainty.”

Tahn SharpeSeptember 29, 2020

Licensees

‘Vanilla’ AFSL prices surge as advisers disperse

Empty AFSL’s with no client books have gone from having virtually no value to being sold for an average of $70,000, with ex-institutional advisers clamouring for an independent ticket yet reluctant to wait on ASIC to approve a new license.

Tahn SharpeSeptember 21, 2020

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