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Showing 181 - 190 of 261 results for "General advice"

Senate bill challenges general advice definition

LAURA MILLAN  |  TUESDAY, 2 SEP 2014
... decided to get ahead of the Financial System Inquiry (FSI) and is set to table a bill to change the definition of 'general advice.' The Senator will introduce the private member bill today during the Senate sitting today, along with a second reading ...

Body needed to monitor adviser competency: FSC

LAURA MILLAN  |  TUESDAY, 2 SEP 2014
... FSC asked that the board establish advice competency models applicable for advisers providing personal advice, general advice or general information and intra-fund advice. The proposed entity should also set minimum competency requirements, ongoing education ...

Call general advice 'sales': CBA

ALICE URIBE  |  FRIDAY, 29 AUG 2014
... Inquiry's (FSI) Interim Report. In its 92 page submission published on the FSI website today, it recommended that general advice should be renamed as 'sales' or 'product information' and the term 'advice' should only be used in relation to personal advice. ...

Aligned licensees could be renamed "restricted advice" groups

LAURA MILLAN  |  WEDNESDAY, 27 AUG 2014
... and advice parts of the business operate under separate licences and business names." The document also asked for general advice or single product advice to be renamed so it reflects the fact that it is "primarily directed at generating sales." ASIC ...

General advice is not advice: Rantall

JAMES FERNYHOUGH  |  FRIDAY, 8 AUG 2014
The term 'general advice' is misleading to consumers, and would be more appropriately labeled 'product sales', Financial Planning Association chief executive Mark Rantall has said. Speaking to a full house of Financial Services Council conference delegates ...

Advice register talks focus on financial advice scope

LAURA MILLAN  |  MONDAY, 4 AUG 2014
... Rantall said: "you've got to separate who does personal financial advice against bank tellers or people providing general advice; my sense is that they should be categorised in different segments depending on what kind of advice they provide." The Association ...

Government succeeds in securing final FoFA changes

LAURA MILLAN  |  WEDNESDAY, 16 JUL 2014
... need to abide by the other six "safe harbour provisions" of the best interest' duty. It also bans commissions in general advice by specifying that recurring payments and payments for recommending a single financial product or commissions are considered ...

FoFA disallowance vote will save "millions"

ALICE URIBE  |  TUESDAY, 15 JUL 2014
... effective tool to improve the quality of advice. Specifically, enhanced statements of advice are not required for general advice - so there will be no disclosure of conflicted payments associated with products sold through the newly created general advice ...

FSI zeroes in on vertical advice and retirement income

LAURA MILLAN, JAMES FERNYHOUGH  |  TUESDAY, 15 JUL 2014
... raising the minimum education requirements for advisers, introducing a public register of advisers and renaming general advice as 'sales' and mandating that the term 'advice' can only be used in relation to personal advice. "The principle of consumers ...

ISA FoFA report sparks industry outrage

LAURA MILLAN  |  MONDAY, 7 JUL 2014
... Australians. ISA said that "the fine-print of the regulations reveals a range of loopholes and caveats," including the general advice exemption, allowing commissions on execution services, commissions on all basic banking products and commission-based ...