Licensees stifling practice acquisitions over compliance concerns

Advice firms looking to build scale are being told to involve their licensees early when acquiring businesses, as tighter compliance benchmarks make it harder to get deals across the line.

The ability to understand: Elston’s Dean Ireland

“Our industry is filled with jargon and constantly changing legislation," says Dean Ireland. The Elston Private Wealth adviser reckons clearly articulated, flexible plans are the key to keeping clients on board and engaged.
Risk & Insurance

Insurance commissions should go: ALP

Shadow finance minister Stephen Jones said proving that a commission-based model can function without conflicts is an “enormous challenge”. While open to the findings of the 2021 insurance review, he made it clear the ALP has every intention of getting rid of commissions holus-bolus if elected in 2022.

ASIC wants to know what’s holding up ‘bite-sized’ advice

The regulator will consult with industry on what’s blocking the provision of limited advice, which it says consumers want more of. According to ASIC’s advice lead, Kate Metz, word on the street is that licensees are the ones getting in the way.
Top Comments

“Here we go again, more unnecessary regulation. Claims advocacy does not necessarily need to be done by a financial adviser when no financial advice as a result of the claim process is required.”

Chris Todd

Chris Todd Financial Services in Mount Barker, SA

Exam pass rate slips to 79 pc

25 May 2020

“It’s very simple. Either intrafund advisers must seek signed bi-ennial (or annual) opt-in fee notices from fund members to receive their salaries (& bonuses) OR the alternative is to remove opt-ins for all retail advisers, once informed consent to charge a set ongoing fee has been put in place with the client. ”

Steve Blizard

Roxburgh Securities in Guildford, WA

Industry funds’ advice plans have not progressed

29 May 2020

“I think the FPA is on the money here. This is an essential move for financial planning to become a legally recognised profession under professional standards legislation.”

Tom Reddacliff

Encore Advisory Group in Sydney, NSW

Code monitoring to be superseded by bigger plan

3 June 2020

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Financial advisers ‘like politicians’: Hume

The Senator diverged from a discussion on the government’s plan to broaden regulatory reform and narrow the advice gap to share an anecdote about how she believes people view the profession.

Lloyd pulls the pin after two years at MLC

After steering MLC through the final two years of its existence, CEO Geoff Lloyd has made the decision to exit the group before the transition is made to new owners IOOF.

Advised consumers less impacted by pandemic: FPA

A recent report by the association shows advised consumers have had more control over their finances and harboured less financial concerns during the pandemic. Increased confidence has also been a trademark of the advised, FPA CEO Dante De Gori said.
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Aussie millennials leading pandemic investment surge

An opportunistic mindset is seeing Aussies aged between 24 and 39 turn to investing during the pandemic era, reflecting a global trend for younger investors to take advantage of current volatility.

Advice on the brink of standardised growth/defensive metrics

Work is underway - at last - to standardise the way growth and defensive assets are classified. The hope is that this will not only provide more certainty around portfolio construction, says David Bell, but enhance the way we define, measure and communicate risk.
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FASEA’s Glenfield: 10,000 qualified advisers a ‘strong’ story

Past the halfway point in its exam transition program, the authority’s CEO says its time to acknowledge what the uplift in professionalism means to consumers. “I had faith in the outcome of this,” Stephen Glenfield tells Professional Planner.

Harry Baker, the professional year pioneer

As the first to make it through FASEA’s 1600-hour training mandate for new advisers, Harry Baker represents a glimmer of hope for an industry that is desperate to attract a new generation of participants.

Remember that thing called the Code of Ethics?

The industry must be fully on board with the clear intentions of the code. Instead of complaining about its 'uncertainties', practitioners should recognise that it is deliberately not a technically prescriptive compliance-style laundry list, Robert MC Brown writes.
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December 2, 2020

Researcher Forum

SUITABLE FOR: Heads of dealer group and licensee research businesses, senior executives of independent research firms, and senior professionals involved in researching investment products for inclusion in model portfolios and implemented consulting.
The event designed specifically for senior research professionals. The forum focuses on issues related to the generation and delivery of research and research-related materials to clients.
June 8, 2021 - June 9, 2021

Licensee Summit

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June 22, 2021 - June 23, 2021

Retirement Conference

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