financial services council

Financial planning

Advisers outrank government as source of retirement support

Australian consumers say they are more likely to seek retirement advice from a financial adviser or their super fund, the FSC reveals, demonstrating a distrust of governm...

Funds management

FSC says $5m net asset test crucial to protect investors

The Financial Services Council says the sophisticated investor test needs to be updated to protect consumers....

Financial planning

Associations divided on impact of Jones’ QAR advice reforms

While the FSC largely supports the final tranche of Delivering Better Financial Outcomes reforms, the FAAA is “deeply concerned” about possible negative implications of t...

Financial planning

Advice advocacy and the ‘alphabet soup’ of associations

Financial Services Council chief executive, Blake Briggs, has shed a light on the need for industry body consolidation and how meaningful engagement between groups has br...

Superannuation

Treasury turns sights to retirement phase of super

Unveiling the 2023 Intergenerational Report, Treasurer Chalmers has called the retirement phase of super the government’s next frontier and flagged further consultation t...

Financial planning

NZ investors seek safety in investments

Individual investors in New Zealand are steering clear of investment with higher potential risk/return with only 13% looking to areas such as cryptocurrency....

Expert Analysis

Using technology to reduce advice hours

The financial services industry says a regulatory overhaul could rejuvenate the advice industry and technology could achieve the same result, writes Andrew Zietara....

Financial planning

Consumer remediation guidelines require 12-month transition: FSC

The Financial Services Council is calling on the Australian Securities and Investments Commission to include a 12-month transition period for licensees to adjust to chang...

Features

InFocus: 2022: The financial advice redesign is underway

2022 is set to have less compliance and regulatory activity, writes Zach Castles, leaving advisers with more time to focus on helping consumers and improving their busine...

Financial planning

AFA welcomes FSC white paper

The Association of Financial Advisers has welcomed the release of the Financial Services Council white paper that proposed recommendations to reduce the cost and time inv...

Financial planning

FSC welcomes Govt decision to expand Fintech Select Committee

The Financial Services Council says the expansion of the scope and length of the committee will help Australia become a technology and finance centre....

Life/Risk

FSC defends insurers in face of negative claims report

Plaintiff law firm Maurice Blackburn says the major life insurers have been shown to have been persistently ignoring their own code of conduct by a report from the Life C...

Policy & Regulation

FSC warns of increased expense under Financial Accountability Regime

Experience in the United Kingdom suggests it may be a lot more expensive to recruit and retain senior executives under the Government’s proposed new Financial Accountabil...

Policy & Regulation

Is Frydenberg being equivocal on 12% SG?

The Federal Treasurer, Josh Frydenberg has stopped short of restating the Government’s promise to increase the superannuation guarantee, preferring to say that it has no ...

Financial planning

FSC canvasses capital requirements for advice licensees

The Financial Services Council has canvassed the imposition of capital requirements on advice licensees as part of any compensation scheme of last resort at the same time...