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Showing 1 - 10 of 183 results for "Statements of Advice"

Jones flags drafting of Tranche 2 legislation

KARREN VERGARA  |  TUESDAY, 11 FEB 2025
... class of advisers. "But I reaffirm that we are committed to modernising the best interests duty and reforming statements of advice. Just as we are committed to introducing a new class of adviser that any financial firm can employ to give safe advice," ...

South Australian financial adviser slapped with seven-year ban

ANDREW MCKEAN  |  FRIDAY, 6 DEC 2024
... clients' best interests. The corporate regulator added that he gave inappropriate advice, failed to provide Statements of Advice to clients, and made misleading and deceptive representations to clients regarding the high returns they would achieve from ...

Treasury gives Tranche 2 reform package preview

JAMIE WILLIAMSON  |  WEDNESDAY, 4 DEC 2024
... single or limited scope issues where it suits the client's needs, and removes the safe harbour steps. Revamped Statements of Advice are also included in the next round, as is clarity on what advice topics can be paid for through superannuation. Super ...

Adviser suspended over wrongful use of ROAs

JAMIE WILLIAMSON  |  MONDAY, 25 NOV 2024
... Planning Solutions adviser is suspended from providing advice for the next three months after failing to supply Statements of Advice (SOAs) where required. Ian Reid, the principal adviser at Temora's A&B Financial Planning, was suspended for three months ...

Jones preps DBFO Tranche 2 for parliament

KARREN VERGARA  |  WEDNESDAY, 30 OCT 2024
... promise to remove laborious tasks by modernising the best interests duty and removing the safe harbour steps. Statements of Advice (SoAs) will also receive a makeover, while a new class of advisers called "Qualified Advisers" from banks, super funds ...

AAT slashes adviser ban

KARREN VERGARA  |  MONDAY, 8 JUL 2024
... Financial. ASIC's investigation found that Betalli failed to keep adequate records and gave non-compliant Statements of Advice (SoAs) by not including information about the basis of his advice, leading to his ban. ASIC said these failures showed ...

Platform reveals advice firms' top issues

KARREN VERGARA  |  FRIDAY, 24 MAY 2024
... tools to assess returns, and specifically about ChatGPT to help write clients' financial objectives for Statements of Advice. In superannuation discussions, advisers raised concern over the Australian Taxation Office's (ATO) delay in acknowledging ...

Adviser with Investport links sees ban affirmed

JAMIE WILLIAMSON  |  THURSDAY, 7 DEC 2023
... clients' interests and her own interests as she was the recipient of several loans from the scheme. Further, the Statements of Advice provided by Anderson were found to be non-compliant, lacking additional disclosures around costs and benefits lost because ...

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. Speaking ...

Paraplanners unfazed by QAR, AI: Survey

KARREN VERGARA  |  WEDNESDAY, 22 NOV 2023
... satisfaction, this is however, lower than the 69% reported in last year's survey. The QAR recommended that Statements of Advice (SoAs) should be replaced with an advice record that is more fit-for-purpose. However, in the first tranche of legislating ...
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