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Showing 131 - 140 of 393 results for "Personal advice"

Legal expert to lead QAR

KARREN VERGARA  |  FRIDAY, 11 MAR 2022
A legal expert will take the reins in leading the Quality of Advice Review, Senator Jane Hume announced this afternoon, adding that the terms of reference have also been finalised. Allens partner Michelle Levy, a specialist in financial services, life ...

TAA calls for prudent pace for reforms

KARREN VERGARA  |  TUESDAY, 8 MAR 2022
... 'robo-advice' with other terms, which make it clear to consumers that they are only receiving information, not personal advice," he said. In essence, the term 'general advice' confuses consumers and raises false expectations that they ...

New digital solution to close advice gap

CHLOE WALKER  |  FRIDAY, 4 MAR 2022
... objective is to help the mass market of Australians currently priced out of receiving traditional face-to-face personal advice, SWU said. "Personal financial advice provides a wonderful outcome for clients, however, increased regulatory obligations imposed ...

ASIC consults on FSCP sittings

KARREN VERGARA  |  TUESDAY, 1 MAR 2022
... a sitting panel where we reasonably believe that a financial adviser is not a fit and proper person to provide personal advice to retail clients in relation to relevant financial products..." the consultation paper reads. ASIC wants to hear from stakeholders ...

Quality of Advice must consider digital: Ignition

ELIZABETH MCARTHUR  |  MONDAY, 31 JAN 2022
... Meanwhile, digital advice can be used to refer to the digital enablement of advice delivery. It can include delivery of personal advice with a Statement of Advice that complies with the best interest duty and related obligations. "From the perspective ...

Government backflips on adviser education

ELIZABETH MCARTHUR  |  FRIDAY, 17 DEC 2021
... review will examine key concepts such as the differences between 'financial product advice', 'general advice' and 'personal advice' - as well as how these terms are used by the industry and how they are interpreted by consumers. It will consider how ...

Financial Advice Hub goes live

KARREN VERGARA  |  WEDNESDAY, 8 DEC 2021
... consultations in early 2021. The hub is part of other initiatives ASIC hopes will improve access to affordable personal advice. It recently launched more guidance on Records of Aadvice and Statements of Advice. ASIC is due to release an advice snapshot ...

Proposed reforms could simplify advice

KARREN VERGARA  |  FRIDAY, 3 DEC 2021
... difficulties administering complex legislation. For the financial advice industry, the ALRC wants to "decouple" 'personal advice' from the definition of 'financial service' and eliminate the term 'financial product advice'. In one proposal the ALRC recommends ...

ASIC sets out limited advice expectations

KARREN VERGARA  |  THURSDAY, 2 DEC 2021
... Advisers' best interests duty and related obligations apply when giving limited advice. "The same rules apply to all personal advice, regardless of whether the advice is limited or comprehensive in scope," ASIC said. INFO 267 and the sample SOA summarises ...

Government advances adviser levy drop

KARREN VERGARA  |  THURSDAY, 11 NOV 2021
... recovers from the superannuation, life insurance and financial services sectors it regulates. Licensees that provide personal advice to retail clients will pay a fixed $1500 plus $1142 per adviser, a whopping 36% drop on the variable amount of $3138 ...