siaa

Financial planning

SIAA ‘fundamentally opposes’ ASIC’s naming and shaming IDR approach

The industry body has expressed its strong opposition towards ASIC’s plans of publishing reportable situations data, describing it as a “completely inappropriate use of d...

Financial planning

Education and DBFO seen as priorities for Minister Mulino

The financial advice industry has reacted to the appointment of Dr Daniel Mulino as the new Minister for Financial Services, with hopes for improvements in legislation an...

Financial planning

FAAA, SIAA urge further review of advice documentation

Despite the government agreeing to replace SOAs with CARs, the FAAA and SIAA believe greater streamlining of documentation is needed for the change to have a positive imp...

Financial planning

Advice community looks to Jones’ successor for ‘decisive action’

The advice community has reacted to the re-election of the Labor Party for a second term and called on the incoming Minister for Financial Services to take “decisive acti...

Financial planning

Falling adviser numbers impacting private market participation: SIAA

Industry body SIAA has said the falling number of financial advisers in Australia is a key issue impacting the attractiveness and investor participation of both public an...

Financial planning

Government to improve ‘unsustainable’ advice qualification requirements

Industry bodies have welcomed a government announcement that it will reform the education standards for financial advisers by opening up the number of approved degrees th...

Financial planning

Will advice firms take on workplace visas to ease shortage?

The FAAA has suggested looking offshore for overseas financial advisers to ease the adviser shortage, but are employers willing to take on the burden of workplace visas?...

Financial planning

Are accountants and teachers a solution for advice shortage?

Career changers, such as accountants and teachers, are a valuable demographic for potential advisers as industry commentators say adviser numbers are “not touching the si...

Financial planning

Expect digital advice to prompt return of banks

Betashares chief executive, Alex Vynokur, believes technology advancements will enable banks to return to financial advice in the future as the need for advice is greater...

Financial planning

FSC and SIAA buck call for changes to sophisticated investor test

The FSC and SIAA have recommended against major changes to the income or product values for the sophisticated investor test, despite a spike in eligible investors, as the...

Financial planning

SIAA lobbies for further adviser exam improvements

Following the government’s proposed changes to the financial adviser exam, SIAA has made additional recommendations for better outcomes, such as enabling entrants to sit ...

Financial planning

‘Outbreak of common sense’ in experience pathway implementation

The experience pathway’s passage through Parliament has been welcomed by the industry as a way to prevent further adviser exodus....

Financial planning

Expect powerful AI-driven advice offerings in next 5 years

Industry experts have shared a snapshot of what an AI-enabled advice industry could look like in the coming years when it comes to productivity, investments and the platf...

Funds management

Australian market a growing ‘honey pot’ for innovative overseas players

Reflecting on the seemingly slow pace of innovation in Australia’s financial services sector, panellists at the SIAA conference have warned foreign entrants could bring a...

Financial planning

Train up ChatGPT like a staff member: Morgan Stanley

Firms introducing artificial intelligence to their businesses should treat it like a new member of staff to train up on the firm’s ethics and values, according to Morgan ...