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Showing 11 - 20 of 273 results for "Statement of Advice"

Adviser banned for PRP supervision failures

MATTHEW WAI  |  THURSDAY, 31 JUL 2025
... appropriate supervision is provided to the provisional relevant provider and must approve, in writing, any statement of advice provided by the provisional relevant provider to a retail client," ASIC said. PRPs can only provide personal advice to retail ...

ASIC fines advice groups over unregistered advisers

JAMIE WILLIAMSON  |  THURSDAY, 17 JUL 2025
... Wealth, which operates out of Greensborough, Victoria. According to ASIC, the unregistered adviser presented a Statement of Advice to a client in relation to life insurance products. "Failure to register a financial adviser creates a risk for consumers ...

Super Fierce goes into liquidation

KARREN VERGARA  |  WEDNESDAY, 25 JUN 2025
... through its proprietary calculator and comparing against every open fund in market. It then provided a digital Statement of Advice and assistance in switching, if needed. As first reported by The Australian, an ASIC notice shows that a liquidator was ...

Industry groups hammer out guidance on tax-deductible advice fees

ANDREW MCKEAN  |  MONDAY, 26 MAY 2025
... advice and taxation law. It outlines three potential methodologies for apportioning fees and provides examples, Statement of Advice text and fee summary templates, for active use. FAAA chief executive Sarah Abood said the body is particularly pleased ...

Wealth management has never looked better: Knox

JAMIE WILLIAMSON  |  TUESDAY, 20 MAY 2025
... algorithms, and they haven't worked in Australia," he said. "We understand personal advice requires a Statement of Advice, it requires you look at a person's debt, at their personal circumstances and then you give them advice. I didn't say ...

Otivo launches AI-powered advice tool

ELIZA BAVIN  |  TUESDAY, 1 APR 2025
... based on the users' personal financial information that they have input into the system. After issuing, a Statement of Advice (SoA) will be created. Ask Otivo is powered by Otivo's advice engine, which it said has been refined over nine years and vetted ...

My Dealer Services partners to enhance adviser education

MATTHEW WAI  |  TUESDAY, 25 MAR 2025
... AI-driven software tool to record and transcribe conversations with clients. Additionally, MDS has enhanced Statement of Advice (SOA) creation support in a partnership with Broker Support Global, and unveiled a new MDS Licensee Compliance Portal, which ...

FSCP orders adviser to undertake further education

KARREN VERGARA  |  WEDNESDAY, 5 FEB 2025
... scheme even though income the client received from the scheme was referred to on several occasions in the Statement of Advice," the FSCP said. Mr. D now has to undertake at least five hours of continuing professional education covering retirement planning ...

AI no silver bullet for advice process, documentation: Experts

KARREN VERGARA  |  FRIDAY, 29 NOV 2024
... has come about in the last 10 months has been phenomenal," he said. Copilot, for example, can turn a 25-page Statement of Advice (SoA) into a PowerPoint presentation that can be used with the client within minutes. "But the most important thing to note ...

Liberal MP calls for SoA replacement

KARREN VERGARA  |  TUESDAY, 5 NOV 2024
Liberal MP Bert van Manen is calling for the Record of Advice (RoA) to replace the Statement of Advice (SoA) and has introduced the proposed changes in a bill to parliament. Federal member for Forde, Bert van Manen, yesterday introduced the Corporations ...