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Showing 1 - 10 of 186 results for "Advice fees"

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 ...

Treasury unveils advice reforms draft legislation

KARREN VERGARA  |  TUESDAY, 14 NOV 2023
... of the member," the Explanatory Memorandum read. The objective is to provide trustees with certainty about paying advice fees agreed between a member and their financial adviser from a member's account and ensure that such fees are not paid in breach ...

Vanguard Super institutes advice fee function, tweaks options

ANDREW MCKEAN  |  WEDNESDAY, 8 NOV 2023
Vanguard Super has rolled out a new function that allows members to pay for advice fees via their SaveSmart account - the super fund's lifecycle MySuper investment option. As of next month, Vanguard Super members can opt to have advice fees deducted ...

AMP rolls out new North features

CHLOE WALKER  |  THURSDAY, 15 JUN 2023
... improved online performance and search functionality, and a digital consent tool. Advisers can also now access historical advice fees via a new ART report. "North continues to invest in its award-winning wrap platform with a steady stream of new enhancements," ...

Super members want free advice: Survey

KARREN VERGARA  |  THURSDAY, 25 MAY 2023
... said. Otivo chair Ian Knox said that legislative support from the government enabling super funds to have payment of advice fees deducted from the members account is a welcome step. However, it is essential the fees are minimal, cost effective and are ...

AMP fined $24m for charging deceased customers

KARREN VERGARA  |  FRIDAY, 19 MAY 2023
The Federal Court found AMP guilty of charging deceased customers life insurance premiums and advice fees, ordering it to pay $24 million in penalties. Justice Hespe today determined that four AMP subsidiaries - AMP Life, AMP Financial Planning, AMP ...

Dodgy advice bill nears $5bn: ASIC

CASSANDRA BALDINI  |  FRIDAY, 10 MAR 2023
... the advice was given. "ASIC compensation for financial advice-related misconduct project has shone a light on the advice fees that customers are paying and the services they should be receiving in return," said Press. "The subsequent programs have resulted ...

QAR does not "trash" FoFA: Anderson

CASSANDRA BALDINI  |  TUESDAY, 7 MAR 2023
... is borne by the client. "And do they value what they get in FDSs? No, they don't, and they already get reporting on advice fees through regular product statements. This is a no brainer, and FDSs should go as a matter of priority," he said. Next, he highlighted ...
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