financial advisers

Funds management

HUB24 profits surge despite dip in inflows

The investment funds platform has reported an 87% surge in its statutory net profit despite subdued net inflows. ...

Financial planning

‘Dramatic improvement’ seen in new entrant hires

Over 230 new entrants have appeared on the Financial Adviser Register since 1 July 2022 with their numbers cited as a key strategy for licensee growth....

Financial planning

Insignia loses self-employed advisers due to fee change

The reset of management fees charged to self-employed advisers has seen Insignia Financial (formerly IOOF) lose 118 advisers during the December quarter. ...

Financial planning

Over 600 advisers have left industry since December

The net change in adviser numbers between 23 December and the second week of January was 603, with that number expected to grow further in the weeks ahead....

Financial planning

Adviser losses disappointing but not unexpected

The financial advice industry is finishing the year with a loss of 2,189 advisers, however the worst is yet to come, according to Wealth Data....

Policy & Regulation

ASIC’s financial advice hub launched

The corporate regulator’s financial advice hub aims to be a single repository to help industry participants more easily find information....

Financial planning

Financial adviser registration to occur in two stages

The registration of financial advisers under the Better Advice Act will occur in two stages with the second commencing once the register transitions to the Australian Tax...

Financial planning

Rise in financial advice costs ‘distressing’: Parliamentary committee chair

Many of the remaining Hayne Royal Commission recommendations will do nothing more than harm and damage ordinary Australian consumers, a member of a parliamentary committe...

Financial planning

AFCA praises advisers for compliance

As industry organisations face Parliament to argue against rising regulatory levies, the Australian Financial Complaints Authority has praised financial advisers for rece...

Financial planning

Industry challenged by falling advisers but growing demand

There will be a problem in the next five years as falling adviser numbers coincide with more households seeking advice, according to Easton Investments. ...

Financial planning

FASEA standards don’t adequately recognise previous study

There needs to be a better recognition of previous study undertaken by financial planners, and in particular continuing professional development studies, according to the...

Financial planning

Help given to prevent financial abuse

An online platform will help advisers to prevent their clients from suffering financial abuse as misconduct rises during the COVID-19 pandemic. ...

Financial planning

Compliance continues to be top adviser challenge

The most burdensome compliance-related task for advisers are file noting and data collection at the fact-find stage, according to a report. ...

Financial planning

Industry teams up to deliver DDO templates

The Financial Services Council has announced a collaborative work with members across the financial services industry to design templates to help enable the implementatio...

Financial planning

Advisers choosing fixed-term fees due to compliance complexity

While a fixed-term fee agreement is a valid alternative for advisers finding difficulty in the ongoing fee arrangement requirements, they need to ensure their fee chargin...