Banking Royal Commission

Financial planning

AFSL applicants need to act fast on PI cover

With the Royal Commission resulting in a tougher insurance market, organisations looking to get professional indemnity cover should act quickly to ensure they’re not left...

Financial planning

Will an ALP victory accelerate planner exits?

Up to 30 per cent of planners have indicated they intend leaving the industry because of the Financial Adviser Standards and Ethics Authority regime and an end to grandfa...

Life/Risk

ASIC may want codes of practice strengthened before granting approval

ASIC will likely require some insurance code of practice provisions are strengthened before it approves the code, and these requirements may extend to other industry bodi...

Superannuation

Lawyers call for standardised group life policy terms

The standardisation of group insurance terms and conditions could help achieve some of the Banking Royal Commission’s recommendations, a leading insurance law firm has sa...

Superannuation

Don’t incentivise planners via commission rebates says ISA

Industry Super Australia has strongly rejected Government proposals to rebate grandfathered commissions to clients arguing that it will incentivise advisers to recommend ...

Financial planning

Abolishing LRBAs detrimental to small business owners, SMSFs: Thinktank

Abolishing limited recourse borrowing arrangements would be detrimental to small business owners and SMSFs, as they are integral to their retirement income and business g...

Life/Risk

Insurance advisers may be safe from anti-hawking laws

Changes to anti-hawking regulations likely won’t impact insurance advisers as their discussions with clients on risk products generally fall within regulatory definitions...

Financial planning

RC didn’t slow job growth in fin services

Job opportunities within the finance and insurance services sector were up 10 per cent in the first quarter of 2019, according to Sunsuper’s Australian Job Index. ...

Superannuation

Super fund mergers progressing at faster paces

Superannuation funds looking to merge must ensure the process is conducted with the needs of remaining members in mind, according to panellists at a QMV event....

Policy & Regulation

Senate Committee recommends increasing consumers’ rights

Consumers can expect improved justice and recourse should they be victims of wrongdoing by the financial services industry as the result of a Senate Committee report hand...

Financial planning

Risk, compliance professionals in high demand

There is more demand for risk and compliance professionals than any other role in wealth management, according to SUPER Recruiters’ executive director. ...

Features

How the banks keep the sweetest morsels

Two of the major banks may have exited their wealth businesses and two more may be on their way out, but Mike Taylor writes that they have astutely kept the sweetest mors...

Financial planning

Industry funds want relaxation of advice rules

Two major industry superannuation fund groups have signalled they are advocating for a relaxation of the rules which have “hamstrung low cost simple advice”....

Editorial

Hayne’s findings important but not without flaw

The chief executive of the Financial Planning Association (FPA), Dante De Gori is absolutely right to urge the major parties against turning the final recommendations of ...

Financial planning

CBA acting on RC advice recommendations: Comyn

CBA has expressed its total support for the Banking Royal Commission’s final recommendations and signalled how it is already acting on many of them as it seeks to rebuild...