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STATEMENT OF ADVICE
Financial planning
Attempts to simplify advice documentation are unlikely to succeed unless advisers are confident they can produce shorter documents without fear of regulatory penalisation...
Financial planning
Advisers at DOD Bookkeeping, which received an $11 million penalty last week, received as much as 40 per cent of their remuneration via a bonus when clients purchased a p...
Financial planning
The Financial Advice Association Australia has said it is unwilling to support the latest Delivering Better Financial Outcomes reforms unless substantial changes are made...
Financial planning
The development of a new advice document presents a “blank canvas” for advisers to create a suitable document replacing statements of advice, says Adviser Ratings....
Financial planning
Compliance and risk consultancy Assured Support has pinpointed five common compliance mistakes made by financial advice firms, borne from small oversights that can quickl...
Financial planning
After an adviser received a warning from the FSCP about their Record of Advice usage, when is the correct time for it to be used with clients?...
Financial planning
The difference between a Record of Advice and Statement of Advice is the crux of the FSCP’s latest determination against a relevant provider. ...
Financial planning
A second financial adviser has seen their ASIC ban varied this week following a successful appeal to the Administrative Appeals Tribunal. ...
Financial planning
Licensees are being urged to be more flexible with their compliance obligations as advisers say they have lost sight of how the rules actually work....
Financial planning
The Financial Services and Credit Panel has made its latest ruling over a case involving an incorrect Statement of Advice. ...
Financial planning
Despite fears under the first draft QAR bill, ASIC has confirmed that it does not expect superannuation trustees to check every Statement of Advice. ...
Financial planning
Underestimating the cost of insurance by almost $75,000 in a Statement of Advice is among multiple reasons that a relevant provider has faced action from the FSCP. ...
Financial planning
The latest FSCP outcome has been issued for a problem relating to Statements of Advice, the second relating to this matter in a month. ...
Financial planning
The Financial Services and Credit Panel has made its latest decision on a case regarding Statements of Advice and rolling over superannuation funds....
Financial planning
Providing inappropriate advice and receiving soft benefits from a telemarketing operation about superannuation switching are among breaches that have led to the Financial...
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MARKET INSIGHTS
Podcast
Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...
It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...
So we are now underwriting criminal scams?...