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Showing 131 - 140 of 1271 results for "AFS"

Centaur goes self-licensed, appoints former dealer group head

ANDREW MCKEAN  |  FRIDAY, 14 FEB 2025
Financial planning firm Centaur Financial Services has moved to its own AFSL and made a key hire in the process. Since 2015, Centaur has operated under a co-op licence with RFS Advice, Evalesco, and Guide Financial to reduce costs. However, Centaur ...

ASIC updates on SMSF advice review

ELIZA BAVIN  |  THURSDAY, 13 FEB 2025
... it will assess compliance with the best interest duty and related obligations. In addition, ASIC is observing the role of AFS licensees in monitoring and supervising representatives who are providing SMSF establishment advice. ASIC said this includes ...

Civitas appoints new business partner

ANDREW MCKEAN  |  FRIDAY, 31 JAN 2025
Civitas Services Australia, a financial services provider that helps individuals and firms obtain and manage their Australian Financial Services Licence (AFSL), has appointed a new business partner. The new hire, James McCowan, who's based in Brisbane ...

Morgans Financial crowned largest licensee

KARREN VERGARA  |  WEDNESDAY, 8 JAN 2025
Morgans Financial has toppled AMP Financial Planning (AMP FP) to become the licensee with the largest number of financial advisers. Morgans recorded 431 active advisers at the end of 2024, while AMP FP had 426. On December 20, both AFSLs had 430 registered ...

Sanlam Private Wealth breaches licensee obligations, hit with enforceable undertaking

MATTHEW WAI  |  MONDAY, 6 JAN 2025
Sanlam Private Wealth, the Australian arm of the South African Sanlam Group, has admitted to breaching licensee obligations by "failing to adequately supervise" its authorised representatives and corporate authorised representatives (CARs), following ...

Court finds CFD issuers engaged in 'unconscionable conduct'

ELIZA BAVIN  |  MONDAY, 23 DEC 2024
... providing financial services under an AFSL to customers outside of Australia. Justice Wigney held that the general obligations of AFS licensees are not limited to financial services provided to customers in Australia. ASIC warned CFD issuers in 2019 ...

Settlement reached in Caddick class action

ELIZA BAVIN  |  MONDAY, 9 DEC 2024
A settlement has been reached in the class action filed in the Federal Court against auditors for SMSFs run by Melissa Caddick. The class action - led by Melbourne-based law firm Mackay Chapman - was filed on behalf of 21 original group members. Just ...

Firms treat CSLR as 'insurance policy': FAAA

KARREN VERGARA  |  MONDAY, 2 DEC 2024
As the number of AFSL cancellations pile up due to the non-payment of Australian Financial Complaints Authority (AFCA) determinations, far too many financial services firms are taking advantage of the Compensation Scheme of Last Resort (CSLR), treating ...

AI no silver bullet for advice process, documentation: Experts

KARREN VERGARA  |  FRIDAY, 29 NOV 2024
Financial advisers are increasingly looking to artificial intelligence (AI) to improve their processes and documentation, but experts warn they must exercise a degree of caution and ensure that anything it produces complies with regulation. A whopping ...

ASIC issues new guidance on DBFO reforms

KARREN VERGARA  |  FRIDAY, 22 NOV 2024
... INFO 291 FAQs: FSGs and website disclosure information includes references to ASIC's recently made instrument that allows AFS Licensees or their representatives dealing in a financial product for the purposes of implementing financial product advice ...