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Financial Planning

Regulator taking a "facilitative" approach to change

ALICE URIBE  |  THURSDAY, 1 AUG 2013
The Australia Securities and Investments Commission (ASIC) chairman Greg Medcraft reiterated his support to the financial services industry as it grapples with the implementation of regulatory changes, saying that the regulator would take a "facilitative" ...

FSC to support Indigenous financial literacy

MARK SMITH  |  THURSDAY, 1 AUG 2013
The Financial Services Council (FSC) has formed a long-term partnership alliance with First Nations Foundation (FNF) to help improve the financial literacy of Indigenous Australians.

Advisers warned: take sequencing risk seriously

JAMES FERNYHOUGH  |  WEDNESDAY, 31 JUL 2013
Sequencing risk can have a "catastrophic impact" on self-managed superannuation funds (SMSFs), according Michael E. Drew, Professor of Finance at Griffith University and partner at Drew, Walk & Co.

Best Interest drives advisers away from products

LAURA MILLAN  |  MONDAY, 29 JUL 2013
The Best Interest Duty provision of the Future of Financial Advice (FoFA) regulation is designed to make planners give comprehensive advice in a process where recommending a product is "the last piece of the puzzle."

First submissions to ASIC inquiry made public

LAURA MILLAN  |  FRIDAY, 26 JUL 2013
The first submissions to the Senate Economics Committee's inquiry into the Australian Securities and Investments Commissions (ASIC) performance have been made public.

FoFA could lock advisers into licensees for life

LAURA MILLAN  |  FRIDAY, 26 JUL 2013
The additional Future of Financial Advice (FoFA) regulations concerning the grandfathering provision could lock advisers into their licensee's dealership for life, consultancy firm Radar Results said.

ASIC highlights higher enforcement rate ahead of Senate inquiry

LAURA MILLAN  |  THURSDAY, 25 JUL 2013
The Australian Securities and Investments Commission (ASIC) has made a total of 371 enforcement actions between January and June 2013, according to an enforcement report released ahead of the Senate inquiry on ASIC's performance.

Connections key to succession planning

LAURA MILLAN  |  THURSDAY, 25 JUL 2013
Having a good relationship clients and staff as well as good connections within the community are key when it comes the time to sell a financial planning business, Guardian Advice executive manager Simon Harris said.

Financial planners lose out to accountants on SMSFs

JAMES FERNYHOUGH  |  THURSDAY, 25 JUL 2013
The number of self-managed superannuation funds (SMSFs) using a fully qualified financial planner has declined over the past six years, despite a significant increase in the number of SMSFs. Much of this potential new business has been snapped up by ...

AFA to release code of conduct this year

LAURA MILLAN  |  WEDNESDAY, 24 JUL 2013
The Association of Financial Advisers (AFA) will release a finalised code of conduct by the end of this year, the organisation revealed today.