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Financial Planning

Changes to advice incoming: Bragg

ELIZA BAVIN  |  THURSDAY, 16 JUL 2020
Senator Andrew Bragg has confirmed legislative changes to advice are around the corner, telling Michael Rice the Corporations Act needs to be updated.

AMP advisers low priority for ASIC

ELIZABETH MCARTHUR  |  WEDNESDAY, 15 JUL 2020
Senator Deborah O'Neil has revealed she was told by ASIC that AMP's Buyer of Last Resort (BOLR) agreements being altered and subsequently, slashing the value of advice businesses, was not a priority for the regulator.

FASEA brings back remote tests

ELIZABETH MCARTHUR  |  FRIDAY, 10 JUL 2020
As Melbourne has returned to a strict lockdown to battle a second wave of COVID-19, FASEA has responded by bringing back remote tests.

Australians without advice struggle in pandemic: Research

ALLY SELBY  |  FRIDAY, 10 JUL 2020
New research has revealed the true value of advice, as the mental and financial wellbeing of Australia's unadvised population suffers from the impacts of the COVID-19 crisis.

ATO can make cost of advice cheaper: Asher

KANIKA SOOD  |  THURSDAY, 9 JUL 2020
In a new paper from Actuaries Institute, Anthony Asher argues financial advice can be made cheaper if the Australian Taxation Office (ATO) provides some of the data necessary for good advice.

Generation gap opens up in financial advice

ELIZABETH MCARTHUR  |  WEDNESDAY, 8 JUL 2020
There is a gaping void between what consumers once wanted from financial advice and what they want now and it's being accelerated by COVID-19, according to research from KPMG.

Sequoia acquires advice firm

ALLY SELBY  |  WEDNESDAY, 8 JUL 2020
Sequoia Financial Group has entered into a purchase of assets agreement with financial advice firm Total Cover Australia, through the company's subsidiary InterPrac Securities.

Land tax, not stamp duty: Report

JAMIE WILLIAMSON  |  FRIDAY, 3 JUL 2020
A draft report into reforming GST and reducing inefficient taxes has reignited calls for the scrapping of stamp duty when buying or selling a home, to be replaced by a broad-based land tax.

QSuper culls comprehensive advice

KANIKA SOOD  |  FRIDAY, 3 JUL 2020
The $110 billion industry fund will stop offering comprehensive advice to new customers on July 6 and cut over 50 positions, as it sees demand for holistic advice fall.

CountPlus firm buys back equity

KANIKA SOOD  |  THURSDAY, 2 JUL 2020
A CountPlus member firm has bought back 38% of its equity from the ASX-listed advice group for $1.10 million and separately, has acquired the accounting operations of another firm.