ASIC to conduct intra-fund advice surveillance
The Australian Securities and Investments Commission (ASIC) will conduct a surveillance of intra-fund advice.
The surveillance has been confirmed by ASIC deputy chairman, Peter Kell, who told the Association of Superannuation Funds of Australia (ASFA) conference the regulator was keen to better understand what was being delivered in the intra-fund advice environment.
He said it would be a comprehensive review which would also be looking at the technology being used to deliver intra-fund advice, how well it was working and whether funds were seeking deliver transition to retirement advice under the intra-fund advice label.
Kell said ASIC would be conducting on-site visits and seeking to drill down on the type of advice being provided.
Recommended for you
As advisers risk losing two-thirds of FUA during the $3.5 trillion wealth transfer, two co-founders underscore why fostering trust with the next generation is vital to retaining intergenerational wealth.
As advisers seek greater insights into FSCP determinations, what are the various options considered by the panel and can a decision be appealed?
Amid the current financial adviser shortage, advice firm Link Wealth is looking to expand its financial literacy program for high school students across the country.
TAL Risk Academy has updated its range of ethics courses to help financial advisers meet their CPD requirements following adviser feedback, including interpreting FSCP determinations.
