In the final days of the financial year, Money Management reviews the number of charges made by ASIC against current and former financial advisers in the second half of 2021/22.
New business for disability income insurance has grown 2.5% after reaching a 10-year low last year while the attrition rate has grown for the first time in nine years.
Companies looking to make acquisitions of financial advice firms are seeking those which have specialisations or a positive business culture rather than just a large client book.
There was a notable improvement in the number of adviser exits this week with less than 10 advisers leaving, compared to several weeks of triple-digit falls.
There are five reasons why advisers are reluctant to sell up their business, believes Forte Asset Solutions, with expected M&A activity on the horizon for companies with sub-$500,000 revenue.
The Financial Services Institute of Australasia has proposed a co-regulatory model for the financial advice industry, akin to the United Kingdom’s financial adviser space.
Insignia Financial has appointed James Tayler as head of responsible investing, a decision the firm believes will further build upon its responsible investing capability.
Financial advisers must consider long-term interests and future circumstances when determining the scope of the advice that is going to be offered and should therefore be ‘standard six aware’, according to TAL.
In a bid to achieve a cheaper professional indemnity insurance, some licensees are opting for policies with high deductibles which may leave them unable to compensate consumers in the event of a complaint.