Financial Standard Comments - Account number issue causes angst, undue admin work: FAAA Flaws in Delivering Better Financial Outcomes (DBFO) Tranche 1 has inundated financial advisers with angst and more administrative work thanks to confusion surrounding account number inclusion in consent forms, according to the Financial Advice Association Australia (FAAA). https://www.financialstandard.com.au/feed/latest?story=179809539 Wed, 13 Aug 2025 13:52:53 +1000 Wed, 13 Aug 2025 13:52:53 +1000 en-AU Copyright 2026 Financial Standard 5 Comment by Steve C (123 p/l)

Another cluster from the government. When the government says it's here to help nothing good ever happens and lets face it, ASIC couldn't find its way back to its own kennel.

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]]> Steve C (123 p/l) Wed, 13 Aug 2025 13:52:53 +1000 Comment by Roland Knight (Infocus)

Yes. Totally agree, this has happened to me for a few clients, and it is simply so hard to go back to the client after 6 months. YES the institution back dated the requirement and stopped the fees being deducted.

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]]> Roland Knight (Infocus) Wed, 13 Aug 2025 15:17:06 +1000