financial advice

Policy & Regulation

MSWMA called out for false independence claim

Morgan Stanley Wealth Management Australia has been compelled by the Australian Securities and Investments Commission to amend a false claim of independence for its advic...

Financial planning

Planner practice revenue derived from risk advice declining

Planners’ uptake on providing advice on insurance is low, leading to adverse impacts on practice revenue derived from risk advice, Investment Trends has found....

Editorial

Clinging to commissions has cost the industry dear

The Royal Commission has revealed the degree to which key industry players have sought to cling to pre-Future of Financial Advice remuneration structures and how such str...

Financial planning

Pre-boomers using advice professionals the most

New research from Roy Morgan shows that almost half the people born before 1946 had purchased wealth management products from a professional adviser, well above the level...

Policy & Regulation

Former Brisbane adviser charged with $5.9m fraud

Former financial adviser Ben Jayaweera has appeared in the Brisbane Magistrates Court charged with six counts of fraud involving around $5.9 million....

Financial planning

“Saving more” families’ number one financial goal

One in four Australian families say money is a source of conflict at home, with only 17 per cent seeking financial advice, according to research by St George Bank....

Financial planning

FSU blames banks’ culture for poor advice

The Financial Services Union has shown concern that “systemic and cultural problems” in the big banks have led to poor advice outcomes, following revealing evidence from ...

Financial planning

Trustee Partners acquires Madison

Superannuation trustee services provider Trustee Partners has acquired Madison Financial Group, as it continues its expansion into the Australian financial services marke...

Policy & Regulation

Adviser banned for four years for derivatives manipulation

The securities regulator has banned Mark Menzies from providing advice for four years following an investigation which found he had manipulated the price of 'MINI' warran...

Financial planning

Call to extend FoFA rules to mortgage sector

The Consumer Action Law Centre has urged extending the Future of Financial Advice conflicted remuneration rules to the mortgage broking industry....

Tools & guides

How a streamlined investment process helps advice businesses succeed

Using a less compliance-heavy investment approach, advice businesses can manage higher volumes and compete for clients with a superior service offering, writes Alex Zaika...

Editorial

FASEA must deliver on consultative process

The financial planning industry’s acceptance of the Financial Adviser Standards and Ethics Authority regime will depend on the success of the authority’s consultative pro...

Expert Analysis

GUN, TRIGGER, BULLET …

Col Fullagar writes that there may be a way for financial advisers to satisfactorily move their remuneration beyond the confines imposed by the Life Insurance Framework....

Financial planning

CBA defends its advice compensation processes

The Commonwealth Bank has asserted it is ahead of schedule in reviewing the advice given by five former advisers and in assessing what compensation may be payable....

Financial planning

CBA faces further advice compensation

The Commonwealth Bank has had additional license conditions imposed on Commonwealth Financial Planning and Financial Wisdom and is facing having to compensate the clients...