AFSLs

Financial planning

Exam passes push adviser numbers back to positive

Off the back of the August adviser exam results, the profession has seen 17 new entrants hit the Financial Adviser Register (FAR) this week, helping numbers return to pos...

Financial planning

The ‘petty’ roadblocks of AFSL switching

Licensee switching may be on the rise, but AFSLs are still finding ways to make the process difficult with small licensees identified as the biggest culprits. ...

Financial planning

Will solo AFSLs ‘go the way of the dodo’?

As larger Australian Financial Services licensees continue to expand their reach in an increasingly expensive industry to operate, how do smaller firms ensure they stay r...

Financial planning

Adviser numbers continue slow recovery after EOFY losses

The profession is up by almost 200 advisers for the new financial year, with August continuing the consistent weekly positive gains. ...

Features

Fixing the PY pipeline: Addressing the challenge for licensees

Stakeholders in the professional year discussion underscore the challenges in the current pipeline and what is holding back licensees from taking on new candidates....

Financial planning

ASIC warns licensees of use of white labelling services

ASIC is calling on licensees to review their client onboarding practices to avoid vulnerabilities associated with share sale fraud, noting particular concerns in the use ...

Financial planning

SIAA ‘fundamentally opposes’ ASIC’s naming and shaming IDR approach

The industry body has expressed its strong opposition towards ASIC’s plans of publishing reportable situations data, describing it as a “completely inappropriate use of d...

Financial planning

ASIC considers publicly unmasking AFSLs’ IDR data

ASIC is seeking to publish firm-level data on the reportable situations and internal dispute resolution regime, in hopes that advice licensees will “lift their game”....

Financial planning

ASIC slaps infringement notices on 3 AFSLs

The corporate regulator has issued infringement notices to three AFSLs whose financial advisers provided personal advice to a retail client while unregistered....

Financial planning

AFSLs urged to address cyber security vulnerabilities

With ASIC suing FIIG Securities for alleged failures in its cyber security measures earlier this month, two firms have urged AFSLs to stay vigilant against ongoing cyber ...

Financial planning

ASIC unveils strategic enforcement priorities for FY25

A wide range of strategic priorities are set to fall under the corporate regulator’s enforcement spotlight in the next 12 months, including the risk management and data s...

Financial planning

M&A activity sees higher number of ceasing AFSLs

The number of ceased advice licensees this financial year is nearly four times higher than the previous period, likely driven by M&A activity among new AFSLs, writes Weal...

Financial planning

Adviser-owned, adviser-run: Godfrey Pembroke CEO on Insignia exit

Three months since Godfrey Pembroke officially exited Insignia Financial’s institutional AFSL, Money Management speaks with CEO Mark Fisher on his path to becoming an adv...

Financial planning

Which AFSLs did ASIC target in FY24?

With the 2023–24 financial year behind us, Money Management takes a look back on the financial advice licensees that were hit with enforcement action by ASIC in the past ...

Financial planning

Onus falls on boutique AFSLs to recruit new entrants

The Financial Advice Association Australia’s Anne Palmer believes new entrants can no longer rely on large advice licensees for recruitment, leaving the obligation to sma...