ASIC

Financial planning

There has been a net loss of close to 30 adviser roles, despite the lack of any major market announcements this week. ...

Financial planning

Providing simple advice simply will reduce cost

Removing the term ‘general advice’ and renaming intrafund advice and robo-advice to intrafund information and robo information would help reduce the cost of financial adv...

Financial planning

AFCA forced to change its approach to ARs

A loss in the NSW Supreme Court and action by the Australian Securities and Investments Commission has seen the Australian Financial Complaints Authority forced to change...

Financial planning

More limited advice may be the answer but advisers are being hamstrung

Advisers would like to deliver more cost-effective limited advice but are being precluded from doing so by regulatory uncertainty and an approach by the regulators and li...

Financial planning

Industry funds cite early release backing for intra-fund advice extension

The Australian Securities and Investments Commission need only regulate in the same terms it did for early release superannuation advice to extend intra-fund advice, acco...

Financial planning

Is the ASIC affordable advice review just the first step?

Will the Government initiate an independent review of the legislation and regulation around financial planning based on the findings of the current Australian Securities ...

Financial planning

FPA calls for dilution of licensee influence

The Financial Planning Association has leveraged the Australian Securities and Investments Commission’s affordable advice review to drive home its policy for financial ad...

Financial planning

Stop prioritising compliance over client needs says SMSF Association

The current regulatory regime around financial planning is driving up costs by prioritising compliance and the needs of licensees over those of consumers, according to th...

Financial planning

Former Sydney adviser banned for three years

Former adviser, Jim Pavlidis has been banned for three years after a review of his advice showed he failed to provide financial advice in the best interest of his clients...

Financial planning

Make ongoing advice as affordable as a mobile phone

The rules around intra-fund financial advice must be significantly tightened and ongoing financial advice support fees must become as low cost as a mobile phone plan, acc...

Financial planning

Central message to ASIC: Give us regulatory consistency

Regulatory consistency represents one of the keys to financial advisers being able to deliver affordable advice according to key submissions filed with the Australian Sec...

Financial planning

Frydenberg urged to make decision over ASIC chair

Treasurer Josh Frydenberg has been criticised for ‘stalling’ over the tenure of the Australian Securities and Investments Commission chair James Shipton following an expe...

Financial planning

ASIC has misunderstood the scaled advice rules say stockbrokers

The Australian Securities and Investments Commission has been accused of misunderstanding the rules of scaled advice when it comes to the work undertaken by stockbrokers....

Financial planning

ASIC signals that admin assistance to clients is not actually advice

Plenty of financial advisers provide administrative assistance to clients to help them with their investments but, according to the Australian Securities and Investments ...

Financial planning

Hume urges advisers to speak up on affordable advice

The Government has made an 11th hour plea to financial advisers to make submissions to the Australian Securities and Investments Commission on its affordable advice revie...