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Showing 21 - 30 of 213 results for "Advice fees"

Advice reforms draft laws consultation opens

KARREN VERGARA  |  WEDNESDAY, 12 JUN 2024
... a new streamlined consent process when a client enters or renews an ongoing fee arrangement and authorise ongoing advice fees to be deducted from a financial product. The bill proposes that advisers should make Financial Services Guides (FSG) easier ...

FAAA calls for 'fairness' ahead of Budget

ELIZA BAVIN  |  TUESDAY, 14 MAY 2024
... financial adviser education and exam price relief, and to reverse the proposed changes to Reduce Input Tax Credits for advice fees. FAAA chief executive Sarah Abood said the goal is to ensure all consumers have access to high quality, professional and ...

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

JAMIE WILLIAMSON  |  FRIDAY, 10 MAY 2024
... diligence, testing and sampling. It's just good governance and good risk management, to make sure that having these advice fees taken out of [a member's] account, which is held in trust by the trustee, that it stacks up. "I've been saying ...

ASIC slams funds' serious deficiencies over advice fee charges

JAMIE WILLIAMSON  |  THURSDAY, 9 MAY 2024
... in assets. Between 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 ...

Advisers must unite for major reforms: SIAA

KARREN VERGARA  |  THURSDAY, 9 MAY 2024
... Australians, particularly retirees access advice. Tranche one, which includes the legal basis in which the payment of advice fees from superannuation and associated tax consequences, underscores the government's push for super funds to complement ...

ASIC clamps down on advisers, trustees cold calling

KARREN VERGARA  |  TUESDAY, 7 MAY 2024
... ASIC said. ASIC forewarned it will provide more details shortly as part of its review of trustees' oversight of advice fees and charges. "Ultimately, financial advisers, licensees, and superannuation trustees should ensure they work to deliver good ...

Super advice fee deductions compound red tape: JAWG

KARREN VERGARA  |  MONDAY, 8 APR 2024
The Joint Associations Working Group (JAWG) says new laws that enable superannuation funds to deduct financial advice fees will have the opposite effect of reducing red tape and can make advice even more unaffordable. Treasury Laws Amendment (Delivering ...

FAAA calls on ATO to provide clarity over advice fees

ELIZA BAVIN  |  THURSDAY, 14 MAR 2024
... they relate to tax advice, and we are continuing to push for a broader interpretation of the deductibility of initial advice fees," she said. "Whichever way it falls, we will provide practical guidance on how to implement this within advice businesses ...

Unmet financial advice needs affect millions in Australia

ANDREW MCKEAN  |  FRIDAY, 8 MAR 2024
... further highlight the necessity to address the cost barrier, three in four unadvised with needs state tax-deductible advice fees would be a likely incentive to seek advice - increasing to 85% among potential adviser clients," Guiamatsia added. Meanwhile ...

Fee consent forms, FDS overhaul concerns FAAA

KARREN VERGARA  |  MONDAY, 18 DEC 2023
... the legislation should allow product providers to accept the standardised consent form for the deduction of personal advice fees whether it is one-off, fixed term or under an ongoing fee arrangement. In proposing to end FDSs, the FAAA pointed out that ...