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Showing 161 - 170 of 1233 results for "licensees"

Will ASIC use AI for advice compliance monitoring?

ANDREW MCKEAN  |  MONDAY, 17 JUN 2024
... coming into the market to develop AI applications for financial advice." However, careful oversight is crucial. Some licensees have already encountered risks with AI, as it records comments made by advisers, potentially leading to unintentional advice ...

Super Members Council renews calls for anti-hawking extension

JAMIE WILLIAMSON  |  THURSDAY, 13 JUN 2024
... April 2022 and March 2023, it found that 476,452 member accounts were charged $990.4 million in advice fees by 1803 licensees. It also found that some trustees have advice fee caps as high as $20,000 or 5% of a member's balance and that few trustees ...

ASIC issues experienced pathway guidance

KARREN VERGARA  |  WEDNESDAY, 22 MAY 2024
... personal advice to retail clients on relevant financial products on that date. INFO 281 also provides guidance to AFS Licensees on their requirements to notify ASIC when they receive a declaration from an experienced provider they authorise. Licensees ...

Sequoia seeks Takeovers Panel intervention

KARREN VERGARA  |  FRIDAY, 17 MAY 2024
... Services. Being a buyer of last resort of books of retiring planners is an important part of the SEQ offering to its licensees, but it is not a significant portion of SEQ's acquisitions. In the last two years, SEQ has only made one very small acquisition ...

'Just do what you say you'll do': ASIC's message to trustees

JAMIE WILLIAMSON  |  FRIDAY, 10 MAY 2024
... super funds to adequately monitor and question fee deductions from member accounts being made by financial advisers and licensees. In its review of 10 trustees, ASIC found three trustees don't perform any checks in relation to advice fee deductions ...

ASIC slams funds' serious deficiencies over advice fee charges

JAMIE WILLIAMSON  |  THURSDAY, 9 MAY 2024
... April 2022 and March 2023, it found that 476,452 member accounts were charged $990.4 million in advice fees by 1803 licensees. It also found that some trustees have advice fee caps as high as $20,000 or 5% of a member's balance and that few trustees ...

ASIC clamps down on advisers, trustees cold calling

KARREN VERGARA  |  TUESDAY, 7 MAY 2024
Financial advisers, licensees, and superannuation trustees are facing the ire of ASIC after an investigation found they are profiting from boiler room tactics that convince members to switch funds. An overwhelming number of members are goaded into leaving ...

FSC launches digital advice group

KARREN VERGARA  |  TUESDAY, 7 MAY 2024
... regulatory framework." The robo-advice group builds on the FSC's expansion into the advice sector by adding six licensees to its network of members. "Independent research has shown that almost four million Australians say they would be open to low-cost ...

AMP Advice partners with BlackRock and Lonsec

ELIZA BAVIN  |  TUESDAY, 30 APR 2024
... practices through Jigsaw Advice Solutions, AMP Advice's dedicated service for independent financial advisers and self-licensees. AMP group executive, advice Matt Lawler said he was excited to launch a unique entry point into managed accounts for advice ...

FSC expands financial advice membership

KARREN VERGARA  |  WEDNESDAY, 24 APR 2024
The Financial Services Council (FSC) is expanding its remit into the financial advice sector by adding six licensees to its network of members. Count, Fortnum Private Wealth, Infocus, Otivo, Rhombus Advisory, and WT Financial Group have joined FSC's ...