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Showing 1 - 10 of 248 results for "Statement of Advice"

Experts issue warning over AI washing

ANDREW MCKEAN  |  MONDAY, 11 MAR 2024
... some claim to be in the process, often utilising a limited dataset from a client to generate a comprehensive Statement of Advice, these instances typically do not involve pure AI," he explains. As such, he warns that given the complexity, private investors ...

Sequoia strikes deal to acquire Clique Paraplanning

ANDREW MCKEAN  |  MONDAY, 5 FEB 2024
... post-completion. Clique provides outsourced local paraplanning services to financial planners and AFSLs, particularly Statement of Advice documents and the ongoing review of documentation. Advisers also use the paraplanning service to manage more complex ...

QAR final response winds clock back, says FAAA

JAMIE WILLIAMSON  |  THURSDAY, 7 DEC 2023
... While the FAAA welcomed some of the other inclusions, like greater support for scaled advice, replacing the Statement of Advice, and the removal of the Safe Harbour steps, it said this second tranche has it reconsidering its initial support of the government's ...

Final QAR reforms open door to super funds

CASSANDRA BALDINI  |  THURSDAY, 7 DEC 2023
... the Quality of Advice Review (QAR), the government plans to modernise the best interests duty and amend the Statement of Advice (SoA), while also granting approval for superannuation funds to provide personal advice. In its final report, titled Delivering ...

Treasury unveils advice reforms draft legislation

KARREN VERGARA  |  TUESDAY, 14 NOV 2023
... advisers but is missing key pieces, such as the elimination of the Best Interests Duty and the overhaul of the Statement of Advice (SoA). Released today, the proposed legislation is the first tranche of the Delivering Better Financial Outcomes package ...

Will HNW firms re-enter retail advice?

KARREN VERGARA  |  WEDNESDAY, 1 NOV 2023
... the corporate regulator compared to retail advisers who have stringent disclosure obligations to provide a Statement of Advice and Financial and Services Guide and meet education and training requirements.

ASIC updates breach reporting rules

KARREN VERGARA  |  FRIDAY, 20 OCT 2023
... examples of when reportable situations would no longer automatically be deemed "significant". One example is if a Statement of Advice (SoA) given to a client has an error that the financial adviser rectifies with the client promptly and involves no actual ...

Advice firm revenues jump 45%

KARREN VERGARA  |  WEDNESDAY, 12 JUL 2023
... constructing a strategy paper for a new client now takes four hours. Two years ago, it took 5.6 hours. A basic Statement of Advice (SoA) for a new client took 8.1 hours but now takes 6.7 hours. For complex new clients, an adviser spent 14.6 hours on ...

Advisers embrace less back-office burden

KARREN VERGARA  |  FRIDAY, 23 JUN 2023
... QAR recommendations assistant treasurer Stephen Jones flagged he will adopt include the replacement of the Statement of Advice (SoAs) with an advice record that is more fit-for-purpose. Financial Service Guides (FSGs) will be provided with more flexibility ...

FYG Planners partners with Asendium

KARREN VERGARA  |  FRIDAY, 24 MAR 2023
... able to utilise Asendium's Statement of Digital Advice (SoDA) system. This enables advisers to tailor the Statement of Advice (SoA) to their specifications in less time and at lower cost compared to traditional means. Asendium chief executive Scott Miller ...
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