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Showing 101 - 110 of 273 results for "Statement of Advice"

ASIC nudges robo-adviser to shutter

ELIZABETH MCARTHUR  |  FRIDAY, 18 OCT 2019
... positive feedback. Between the two services, Plenty and Plenty Plus produced approximately an average of one statement of advice a day across both services. The regulator expressed concerns that the level of inquiries made by the robo-advice tools about ...

Technology coming for advice jobs

ELIZABETH MCARTHUR  |  WEDNESDAY, 25 SEP 2019
... accurate," Steller said. He used the example of Nod, an AI driven document generating bot that is able to prepare a Statement of Advice. The Nod bot generates in seconds what takes paraplanners hours or even days. It also has the ability to read all ...

Priced out: Advice affordability at risk

ELIZABETH MCARTHUR  |  MONDAY, 9 SEP 2019
... says the cost of providing compliant advice is "uncommercial" due to all that is required before the initial Statement of Advice is presented. "While I appreciate and support the need for operating in a compliant manner when providing advice, I believe ...

ASIC bans financial adviser

KRISTI CHENG  |  WEDNESDAY, 28 AUG 2019
... found Goudie generated fees and commissions for himself. He also failed to give a number of his clients a Statement of Advice. Commissioner Danielle Press said ASIC's decision reflects its expectation that financial advisers comply with the law and act ...

Sam Henderson cops ASIC ban

KANIKA SOOD, JAMIE WILLIAMSON  |  WEDNESDAY, 24 JUL 2019
... self-managed superannuation fund to be managed by his practice. She refused but the foundation piece of the resulting Statement of Advice was the establishment of said SMSF. Had McKenna followed the advice, she would have forfeited a $500,000 deferred ...

AFA expands support for paraplanners

ELIZABETH MCARTHUR  |  MONDAY, 22 JUL 2019
... Contract Paraplanning Services, an outsourcing service that matches financial advisers with paraplanners for Statement of Advice production and other administrative tasks. "I am honoured to be the inaugural leader of Pulse and look forward to collaborating ...

AMP bolsters managed portfolio offering

HARRISON WORLEY  |  WEDNESDAY, 3 JUL 2019
... managed portfolio transactions are generally centrally implemented - and not requiring the production of a statement of advice for every transaction.

ASIC bans adviser over super theft

ELIZABETH MCARTHUR  |  THURSDAY, 23 MAY 2019
... of another two of the 14 companies. It was also alleged he directed an employee to construct a back-dated Statement of Advice which was presented to his licensee, the now defunct AFS Group, in order to attempt to defend a complaint that was being investigated. ...

Former Millennium3 adviser banned

ELIZABETH MCARTHUR  |  WEDNESDAY, 17 APR 2019
... disclosed fees in percentage terms rather than dollar values, failing to comply with the requirements for a Statement of Advice (SOA). Forster was an authorised representative of now-defunct Breakaway Finance Group from 2012 to 2014. Forster then moved ...

Major advice licensee in possible best interest breach

JAMIE WILLIAMSON  |  THURSDAY, 4 APR 2019
... advisers failed to demonstrate compliance with the best interest duty and related obligations. The watchdog found Statement of Advice (SOA) documents used by the group contained heavily templated wording and many files lacked evidence to support adviser ...