advice

Financial planning

Pro bono work needed to reduce advice gap

Including one day a year pro bono work as continuing professional development could help to reduce the advice gap and boost the advice industry’s reputation within the co...

Financial planning

Advisers stuck in the ‘old world’ of financial advice

Advisers need to step up and deliver financial advice in the same way that consumers are interacting with their finances....

Financial planning

Super funds ‘terrified’ of giving advice

Greater regulatory clarity is needed to ensure superannuation funds can fill the gap between comprehensive advice which should sit outside of super funds in most instance...

Financial planning

Advisers have ‘box seat’ to add value

Financial advisers have an opportunity to create value by taking more responsibility in the investing process and lowering costs at the same time, according to Financial ...

Financial planning

Tech helps service less profitable clients

The use of technology has given 28% of financial advice businesses a leg up when it comes to improving the affordability of advice, according to a report. ...

Financial planning

Advisers unlikely to be ruled against in ‘know your client’ complaint

There is a strong likelihood that complaints regarding inappropriate advice will be resolved by agreement rather than a decision against the advisers, according to the Au...

Financial planning

Clime NPAT rises 473% in FY21

Clime Investment Management has reported a net profit after tax of $2.2 million, a rise of 473% on the previous year, while the acquisition of Madison has helped it see a...

Funds management

Clients losing out by hoarding cash in pandemic

There is an extra $124 billion sitting in cash in banks since the pandemic and advisers have a job to do to encourage investors to put this back into markets....

Financial planning

AMP to launch new fee model

AMP’s new service model will allow the release of institutional ownership and will cease buyback arrangements, but advisers have until the end of the year to leave the ne...

Financial planning

APRA seeks to clarify trustee SOA oversight concerns

Trustees should come up with an approach that allows them to have necessary comfort that the quality of advice that is provided to members is as it should be, according t...

Life/Risk

Ongoing need to educate clients on value of advice

Only one-third of surveyed consumers believe an advised life insurance product is better quality than an unadvised product, according to MetLife....

Financial planning

Advice awareness increased by COVID-19

COVID-19 has driven the awareness of the importance of professional advice by 54% in the past 12 months, according to ClearView....

Financial planning

Growth mindset neglected by advice firms

The biggest challenge facing the advice industry is getting out of the ‘siege mentality’ brought on by reforms and failing to look towards growth, an advisory firm believ...