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Showing 1 - 10 of 88 results for "Fee disclosure statement"

ASIC bans another former Lighthouse Partners director

ANGELIQUE MINAS  |  THURSDAY, 9 OCT 2025
The Australian Securities and Investments Commission (ASIC) has banned former Lighthouse Partners director and financial adviser Timothy Archibald from providing financial services for 10 years, for fees for no service (FFNS) conduct. This comes after ...

Account number issue causes angst, undue admin work: FAAA

KARREN VERGARA  |  WEDNESDAY, 13 AUG 2025
... FAAA general manager of policy, advocacy and standards Phil Anderson said. Under DBFO Tranche 1, the Fee Disclosure Statement obligation was removed, and multiple consent form obligations were combined. This included the need to comply with the obligation ...

Platforms placate fee consent ordeal: SuitabilityHub

KARREN VERGARA  |  MONDAY, 17 FEB 2025
Platforms have vastly improved their bulk processing capabilities, particularly as financial advisers come to dread the new fee consent renewal process, SuitabilityHub managing director Recep Peker says. This is one of the main findings in SuitabilityHub's ...

Advice reforms draft laws consultation opens

KARREN VERGARA  |  WEDNESDAY, 12 JUN 2024
Draft regulation of the first tranche of the Delivering Better Financial Outcomes reform package is now up for consultation. Treasury Laws Amendment (Delivering Better Financial Outcomes) Regulations 2024 has five sections that aim to make access to ...

The risks and opportunities in advice: SIAA

KARREN VERGARA  |  TUESDAY, 30 APR 2024
... streamlining ongoing fee renewal and consent requirements, including removing the requirement to provide a fee disclosure statement. Gregory oversees a team of 165 advice professionals nationally and has plans to recruit more members. "We are committed ...

Tranche one of advice reforms hits parliament

KARREN VERGARA  |  WEDNESDAY, 27 MAR 2024
... streamline ongoing fee renewal and consent requirements, including removing the requirement to provide a fee disclosure statement. This was under Recommendation 8 from the QAR. Under Recommendation 10, personal advice providers should have the flexibility ...

Fee consent forms, FDS overhaul concerns FAAA

KARREN VERGARA  |  MONDAY, 18 DEC 2023
... Statements (FDS) in its response to the first round of reforms. Currently, advisers must produce an annual Fee Disclosure Statement (FDS), a renewal notice, and a client fee consent form. While the FAAA said it is supportive of reducing these to one ...

OnePath cops $5m fine over fees for no service

CASSANDRA BALDINI  |  THURSDAY, 30 NOV 2023
The Federal Court has imposed a $5 million penalty on OnePath Custodians for unlawfully deducting adviser service fees from members. According to court documents, the trustee made misleading representations about its right to continue charging fees ...

Mercer fined $12m over advice failures

JAMIE WILLIAMSON  |  THURSDAY, 23 NOV 2023
Mercer Financial Advice will pay $12 million after the Federal Court found it failed to meet some disclosure obligations and charged almost $5 million in fees to clients when it was not entitled to do so. Mercer admitted that, between July 2016 and ...

Key advice reforms still coming, Jones promises

JAMIE WILLIAMSON  |  WEDNESDAY, 22 NOV 2023
Minister for financial services Stephen Jones has confirmed the government remains committed to removing Statements of Advice and the Safe Harbour Steps, as well as accelerating changes to education requirements to meet increased demand for advice. ...
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