The law “should not continue to assume that financial advice is being given by a person”, according to Michelle Levy, as she hints that advice from superannuation funds could be given by a digital advice tool.
The latest annual RIAA report has found concerns or mistrust around greenwashing by investment managers almost tripled this year, with 62 per cent citing it as a deterrent to responsible investment growth.
The Federal Court has approved Commonwealth Bank’s $50 million settlement in the consumer credit insurance class action.
Two new reports from CFS and Challenger have highlighted the benefits consumers gain from seeking advice as over half of those aged 50 and over fear outliving their savings amid the cost-of-living crisis.
The corporate regulator has revealed the results of its August financial adviser exam, which has delivered the highest pass mark of the year so far.
According to Wealth Data, less than a quarter of all financial advisers on the ASIC FAR are women, with the accounting and super fund business models having the highest number of female advisers.
The Financial Services Council has appointed two financial services chief executives to join its board.
Two national financial services businesses are set to merge this month to create a $64 billion diversified firm with more than 500 staff, striving to become ‘Australia’s trusted home for great advice’.
Less than half of advisers wrote a life insurance policy in the first half of the year, according to Adviser Ratings, while Deloitte has identified a group of underinsured consumers emerging as a result.
New data from the Australian Bureau of Statistics has revealed which states are seeing growth in their retiree populations and becoming the go-to destination for older Australians.
