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Showing 1 - 10 of 135 results for "Best Interest Duty"

Tranche 2 of DBFO dumps SOAs, enables 'nudges'

JAMIE WILLIAMSON  |  FRIDAY, 21 MAR 2025
... chief customer officer Renee Howie said: "The client advice record is a much-needed reform. However, reforms to best interest duty and the removal of the safe harbour steps are also necessary to facilitate more affordable advice for Australians." "Allowing ...

ASIC updates on SMSF advice review

ELIZA BAVIN  |  THURSDAY, 13 FEB 2025
... advice files where SMSF establishment advice has been provided. ASIC said it will assess compliance with the best interest duty and related obligations. In addition, ASIC is observing the role of AFS licensees in monitoring and supervising representatives ...

FSCP deregisters adviser for two years

KARREN VERGARA  |  WEDNESDAY, 12 FEB 2025
... incompetence in providing the advice to his clients," the FSCP said. The panel found that Meilak contravened the best interest duty, appropriate advice obligation, failed to prioritise his clients' interest over his own, and made misleading statements. ...

Jones flags drafting of Tranche 2 legislation

KARREN VERGARA  |  TUESDAY, 11 FEB 2025
... has taken time, but it has led to a better package for consumers." The second phase is meant to simplify the best interest duty, remove the safe harbor steps, and introduce a new class of advisers. "But I reaffirm that we are committed to modernising ...

AFCA flags legal uncertainty on SMSF wholesale test

KARREN VERGARA  |  THURSDAY, 28 MAR 2024
... retail investor as it had less than $10 million in assets and therefore entitled to the protections of the best interest duty. The complainant also argued that personal financial advice was provided and that the advice was inappropriate. "The financial ...

New enhancements to Expand, CFS Edge

CHLOE WALKER  |  THURSDAY, 14 DEC 2023
... Colonial First State (CFS), the new offering was designed in response to feedback from advisers, helping them meet Best Interest Duty obligations through low-cost and flexible solutions. "The Accelerate Series delivers a full-service managed account ...

Will HNW firms re-enter retail advice?

KARREN VERGARA  |  WEDNESDAY, 1 NOV 2023
... demographic in 2018, largely due to the complex regulatory environment and the difficulty of complying with Best Interest Duty obligations and how costly it was to do so, JBWere Australia chief executive Maria Lykouras told yesterday's AFR event. ...

Financial advice firms profits jumps: Research

CASSANDRA BALDINI  |  WEDNESDAY, 6 SEP 2023
... it would have no impact, 10% saw it as a negative, and 15% weren't sure. On the hotly debated shift from best interest duty to good advice duty, 47% felt it was a positive, while 32% concluded it would have no impact, 6% said it was a negative, and ...

Colonial First State previews new MA offering

CHLOE WALKER  |  WEDNESDAY, 6 SEP 2023
... The Accelerate Series has been designed in response to feedback from financial advisers, helping them meet best interest duty obligations through low-cost and flexible solutions. "The Accelerate Series is a game-changer," CFS group executive, distribution ...

Platform comparison fintech launches

KARREN VERGARA  |  TUESDAY, 22 AUG 2023
... products. SuitabilityHub provides all advisers digitised software that can bring a more holistic approach to the Best Interest Duty by looing looks at clients' needs and values that goes beyond fees," he said. The first step for an adviser is to ...
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