LaTrobe offers Qantas points bonus
LaTrobe Financial, emulating AustralianSuper, are now offering the incentive of Qantas frequent flyer points for every $1,000 invested.
The similar program launched by Australian was not without controversy over claims it breached anti-hawking provisions.
The LaTrobe offer would only apply to new investments over $10,000 into 12-month term accounts which had a current variable rate of 4.35% p.a. after fees.
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ASIC has called on superannuation funds to improve their oversight of advice fee deductions following an investigation of 10 trustees that found $990 million was charged in one year.
Financial services lawyers believe the government may have good intentions, but the proposed legislation leaves superannuation trustees targeting an unachievable “standard of perfection” when it comes to advice deductions.
Advisers could find themselves unable to receive the fair market price of their advice as the Delivering Better Financial Outcomes legislation states superannuation trustees can reject deductions that are not charged on a cost basis.
Two advice professionals have shared five key takeaways as to how advisers can strengthen their communication with clients, especially at review time, in order to build deeper relationships.
