Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 11 - 20 of 88 results for "Fee disclosure statement"

Treasury unveils advice reforms draft legislation

KARREN VERGARA  |  TUESDAY, 14 NOV 2023
... streamline of ongoing fee renewal and consent requirements, including removing the requirement to provide a fee disclosure statement (Recommendation 8) and flexibility on delivering a Financial Services Guide (FSG) (Recommendation 10). The legislation ...

Advisers embrace less back-office burden

KARREN VERGARA  |  FRIDAY, 23 JUN 2023
Financial advisers have welcomed the elimination of many back-office inefficiencies under the federal government's adoption of the Quality of Advice Review recommendations. Some of the QAR recommendations assistant treasurer Stephen Jones flagged ...

Industry bodies respond to QAR recommendations

KARREN VERGARA  |  TUESDAY, 13 JUN 2023
The wealth management industry has broadly welcomed the bulk of the Quality of Advice Review recommendations Labor will prioritise, with many agreeing that the reforms will fix financial advice and ultimately benefit consumers. In releasing the first ...

Treasury to scrap advice admin burdens, boosts intra-fund advice

KARREN VERGARA  |  TUESDAY, 13 JUN 2023
... renewal and consent requirements will be streamlined into a single form, and the requirement to provide a fee disclosure statement will be removed, as per Recommendation 8. Statements of Advice (SoAs) will be replaced with an advice record that is more ...

Abolishing FDSs a major win: Panel

KARREN VERGARA  |  TUESDAY, 16 MAY 2023
The Quality of Advice Review's recommendation to abolish Fee Disclosure Statements would be a major win for financial advisers as many continue to grapple with providing accurate documents to clients. The Financial Advice Association Australia general ...

QAR does not "trash" FoFA: Anderson

CASSANDRA BALDINI  |  TUESDAY, 7 MAR 2023
The Quality of Advice Review's final report (QAR) does not "trash" or go against the Future of Financial Advice (FoFA) reforms, says Association of Financial Advisers (AFA) chief executive Philip Anderson. Labeling QAR "the most important review of ...

Focus on providing 'good advice': QAR draft proposals

JAMIE WILLIAMSON, CASSANDRA BALDINI  |  MONDAY, 29 AUG 2022
A focus on providing 'good advice', the scrapping of general advice, and allowing superannuation funds to provide personal financial advice are just some of the proposed reforms contained in the Quality of Advice Review's consultation paper. ...

ASIC takes Mercer Financial Advice to court

JAMIE WILLIAMSON  |  THURSDAY, 30 JUN 2022
Mercer Financial Advice is being sued by ASIC over fee for no service conduct that continued after the Royal Commission and impacted members of both a corporate and government super fund. The regulator alleges that between July 2016 and June 2019 Mercer ...

NAB partners with life insurance, advice provider

ANNABELLE DICKSON  |  FRIDAY, 3 SEP 2021
The big four bank announced its partnership with Australia's largest medical defence organisation to extend its business finance solutions to doctors and healthcare professionals. NAB's Medfin Finance team signed a 10-year strategic partnership agreement ...

NAB fined $18.5m over misleading fee disclosure

JAMIE WILLIAMSON  |  THURSDAY, 26 AUG 2021
The big four bank has been ordered by the Federal Court to pay $18.5 million for misleading fee disclosure statements in relation to personal financial advice, in what is the first penalty imposed by the court for such failures. The court found NAB ...