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Financial services least trusted industry: Edelman

ELIZABETH MCARTHUR  |  TUESDAY, 23 FEB 2021
... executives and businesses should fill voids in need left by government (68%) and should hold themselves accountable to the public, not just shareholders (65%).

Countdown to FASEA exam deadline

ELIZABETH MCARTHUR  |  TUESDAY, 23 FEB 2021
... are just five exam sittings remaining for existing advisers to pass the exam. After the end of 2021, all advisers who have not passed will no longer be able to practice as registered financial advisers. There are 1900 candidates already registered for ...

Seek launches investments arm

ELIZA BAVIN  |  TUESDAY, 23 FEB 2021
... Seek, effective 1 July 2021. "I am honoured that Andrew and the board have chosen me to become Seek's chief executive. I am not going to try to fill Andrew's shoes," Narev said. "It is impossible to overstate the value of his strategic insight, and the ...

CountPlus profit down 53%

ANNABELLE DICKSON  |  TUESDAY, 23 FEB 2021
... natural 'clean' advice model for quality financial advisers," Rowe said. "We know the demand for quality, efficient advice is not diminishing. As the challenges of the pandemic continue to drive client enquiry and assurance, household wealth across Australia ...

ASIC zeroes in on bad SMSF advice, conduct

KARREN VERGARA  |  TUESDAY, 23 FEB 2021
... undermines the sector and limits the ability of Australians to make confident and informed choices," she said. While ASIC does not regulate the sector directly, it does however, oversee firms that provide financial service to trustees such as advisers ...

Investors on red alert despite vaccines

KARREN VERGARA  |  MONDAY, 22 FEB 2021
... COVID-19 new normal is here to stay. Two-thirds expressed a more pessimistic outlook, believing that the global economy will not recover from COVID-19 in 2021. A majority (60%) said policy makers in their home country have been ineffective in their response ...

Industry fund expands leadership team

KARREN VERGARA  |  MONDAY, 22 FEB 2021
A $16 billion superannuation fund has welcomed two members to its executive team, as well as a portfolio manager from Victorian Funds Management Corporation. Sam Horskins is the new chief financial officer at CareSuper, overlooking the statutory and ...

ATO targets SMSF fraud

ANNABELLE DICKSON  |  MONDAY, 22 FEB 2021
... attention to ATO issued alerts/notifications advising of changes to the SMSF account," he said. "If you or your clients are not aware of the reasons for these changes take immediate action and contact us."

Review of AFCA underway

ELIZABETH MCARTHUR  |  MONDAY, 22 FEB 2021
... moment, AFCA's independent assessor has the ability to review complaints about the standard of service provided by AFCA but does not have the power to review the merits or substance of an AFCA decision. Treasury is asking stakeholders where this scope ...

Chief economist update: The vaccine has landed

BENJAMIN ONG  |  MONDAY, 22 FEB 2021
... about that. Its successful rollout will only further reduce the risk, and when you reduce the risk, then obviously, you do not need more blunt and extreme measures". The 'Australian Financial Review' (AFR) daily reports that, "About 170,000 frontline ...