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The trouble with best financial interests dutyBY KARREN VERGARA | WEDNESDAY, 10 FEB 2021 12:44PM
The best financial interests duty reform has major loopholes and lacks guidance from regulators, leading to major confusion for superannuation trustees.Read more: Natalie Cambrell, ACTU, AI Group, Australian Institute of Company, Australian Institute of Superannuation Trustees, Christian Gergis, KQH Lawyers, Peter Burn, Scott Connolly
AIA Australia's newly launched advice business has named a chief executive to lead its efforts, as the life insurer brings some Commonwealth Financial Planning advisers into the fold.
Yesterday's Standing Committee hearings on financial advice suggested the corporate regulator and industry superannuation funds are the only ones benefiting from increasing costs.
The superannuation startup geared at self-employed workers is looking to raise $1.5 million, as it sets it sights on 60,000 members in five years.
The Australian Financial Complaints Authority (AFCA) has made changes to its procedures to weed out complaints where the consumer didn't really suffer any financial harm.
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