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Showing 31 - 40 of 273 results for "Statement of Advice"

Will HNW firms re-enter retail advice?

KARREN VERGARA  |  WEDNESDAY, 1 NOV 2023
... the corporate regulator compared to retail advisers who have stringent disclosure obligations to provide a Statement of Advice and Financial and Services Guide and meet education and training requirements.

ASIC updates breach reporting rules

KARREN VERGARA  |  FRIDAY, 20 OCT 2023
... examples of when reportable situations would no longer automatically be deemed "significant". One example is if a Statement of Advice (SoA) given to a client has an error that the financial adviser rectifies with the client promptly and involves no actual ...

Advice firm revenues jump 45%

KARREN VERGARA  |  WEDNESDAY, 12 JUL 2023
... constructing a strategy paper for a new client now takes four hours. Two years ago, it took 5.6 hours. A basic Statement of Advice (SoA) for a new client took 8.1 hours but now takes 6.7 hours. For complex new clients, an adviser spent 14.6 hours on ...

Advisers embrace less back-office burden

KARREN VERGARA  |  FRIDAY, 23 JUN 2023
... QAR recommendations assistant treasurer Stephen Jones flagged he will adopt include the replacement of the Statement of Advice (SoAs) with an advice record that is more fit-for-purpose. Financial Service Guides (FSGs) will be provided with more flexibility ...

FYG Planners partners with Asendium

KARREN VERGARA  |  FRIDAY, 24 MAR 2023
... able to utilise Asendium's Statement of Digital Advice (SoDA) system. This enables advisers to tailor the Statement of Advice (SoA) to their specifications in less time and at lower cost compared to traditional means. Asendium chief executive Scott Miller ...

DASH lands venture capital investment

ANDREW MCKEAN  |  WEDNESDAY, 22 MAR 2023
... This will enable advisers to deliver advice seamlessly from online fact finding through to modelling and the Statement of Advice (SoA), Whelan said. DASH is specifically targeting all the key friction points in the financial planning workflow. The first ...

ASIC bans Queensland adviser

ANDREW MCKEAN  |  WEDNESDAY, 15 MAR 2023
... said. Further, Allen didn't appropriately scope super advice to include insurance, ASIC added. Allen's Statement of Advice documents provided to clients also contained product comparison tables that were false or misleading. He understated the ...

QAR does not "trash" FoFA: Anderson

CASSANDRA BALDINI  |  TUESDAY, 7 MAR 2023
... provide advice documentation as another solution that should be fast tracked. "The requirement to prepare a Statement of Advice (SoA) was a Financial Services Reform Act initiative dating back to 2001. This was not a FoFA reform, so there can be no FoFA ...

Put controls in place for super funds: Associations

CASSANDRA BALDINI  |  THURSDAY, 9 FEB 2023
... their members. "There will be no safe harbour steps to follow, and they will not have to give the member a statement of advice (SoA). That will improve the accessibility and affordability of financial advice," she said. But Anderson isn't convinced ...

Treasury releases Quality of Advice Review final report

CASSANDRA BALDINI, JAMIE WILLIAMSON  |  WEDNESDAY, 8 FEB 2023
... interaction or personalised communication by a provider of advice. Meanwhile, Levy has maintained her view that the Statement of Advice should be removed, to be replaced with a requirement for providers of personal retail advice to maintain complete ...