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.
Commission should continue to be offered on insurance advice, according to The Advisers Association, and current commission rates are too low which was causing advisers to opt out of offering it.
Interest rates are “still very low”, according to RBA governor Philip Lowe, despite two rises but inflation is expected to peak at 7% before declining next year.
American Century Investments is predicting growth in the diversity of the small-cap universe toward the end of this year as stockpickers shift to identifying companies whose fundamentals may benefit from supply disruption.
Financial services organisations have disagreed with the ALRC’s proposals regarding retail and wholesale clients, arguing the asset and income test exemptions are outdated and require indexation.
The only way to address Australia’s advice gap and meet the challenges raised by the Quality of Advice Review is through greater use of technology in financial advice, according to Ignition.
There is only one sitting left for advisers yet to pass the exam as the Australian Securities and Investments Commission reveals the pass mark for May’s exam.
Former Queensland financial adviser, Lawrence Toledo, has been convicted and fined $1,500 after pleading guilty to three charges of breaching an Australian Securities and Investment Commission banning order.
The financial advice profession needs more certainty on how the Australian Financial Complaints Authority will judge a complaint, says the Association of Financial Planners (AFA).
Australian stocks are set to see relative outperformance in the second half of the year, according to T. Rowe Price, despite encountering difficulties in the first half.