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Financial Planning

SMSF Association partners with Morgans to raise standards

MARK SMITH  |  THURSDAY, 26 MAY 2016
The SMSF Association has formed a new partnership with stockbroking and wealth management firm Morgans Financial to improve professional standards in the SMSF sector.

TPB calls for submissions on practical guidance info

KERRIE SYDEE  |  THURSDAY, 26 MAY 2016
The Tax Practitioners Board (TPB) has called on stakeholders to provide feedback on four new draft information sheets that provide practical guidance on how the Code of Professional Conduct (the Code) applies to tax (financial) advisers.

Knight Financial Advisors unveils new MDA service

MARK SMITH  |  WEDNESDAY, 25 MAY 2016
Self-licensed advisory firm Knight Financial Advisors has launched a new managed discretionary account (MDA) service built in partnership with listed managed account operator Managed Accounts Holdings (MGP).

One in four willing to switch advisers: EY survey

MARK SMITH  |  TUESDAY, 24 MAY 2016
Wealth managers in Australia will need to employ more client-centric strategies and make better use of technology if they want to capture a share of the sector's $280 billion (US$200 billion) global revenue opportunity, according to EY's 2016 global ...

Insto oligopoly stifling advice M&A activity

ALEX BURKE  |  TUESDAY, 24 MAY 2016
There are still far more buyers than sellers for financial planning businesses due to 85% of licensees being controlled by six institutions, according to Connect Financial Service Brokers chief executive Paul Tynan.

Not-for-profit fund buys StatePlus

MARK SMITH  |  MONDAY, 23 MAY 2016
A $54 billion not-for-profit super fund is set to acquire StatePlus from State Super, which it says will create the largest member-owned financial planning network in Australia.

Robo advice set to fail: Morningstar

KERRIE SYDEE  |  FRIDAY, 20 MAY 2016
Pure play robo advice will not stand that test of time, according to Morningstar's head of adviser solutions, Andrew Whelan.

Focus Financial looking for more local partners

KERRIE SYDEE  |  THURSDAY, 19 MAY 2016
Having announced their first Australian investment last week, Focus Financial Partners is hoping to partner with more Australian firms who are looking for a partner rather than just an investor.

ASIC accepts EU of former adviser

KERRIE SYDEE  |  WEDNESDAY, 18 MAY 2016
ASIC has accepted an enforceable undertaking (EU) of former Victorian financial adviser and authorised representative of the Synchron dealer group, Michael Melamed.

ASIC orders HSBC remediation plan for "deficient" advice

ALEX BURKE  |  TUESDAY, 17 MAY 2016
ASIC has accepted an enforceable undertaking (EU) from HSBC Bank Australia concerning "potentially deficient advice" provided on retail structured products.