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Financial Planning

ASIC continues proceedings against Wellington Capital

LAURA MILLAN  |  TUESDAY, 11 JUN 2013
The Australian Securities and Investments Commission (ASIC) has taken a new step on its legal proceeding against Wellington Capital, the responsible entity of the Premium Income Fund (PIF) in the Federal Court of Australia.

PJC to hold TASA hearing tomorrow

LAURA MILLAN  |  TUESDAY, 11 JUN 2013
The Parliamentary Joint Committee (PJC) on Corporations and Financial Services will hold its first hearing on the amendment of the Tax Agent Services Act (TASA) tomorrow.

Employed advisers could face $200k liability under FoFA

JAMES FERNYHOUGH  |  TUESDAY, 11 JUN 2013
Employed financial advisers will be personally liable for serious breaches of the Best Interests Duty if they are authorised representatives (ARs), according to Charmian Holmes, solicitor director at The Fold Legal (the Fold).

Lonsec and Milliman partner for post-retirement research

MARK SMITH  |  TUESDAY, 11 JUN 2013
Investment research house Lonsec and global actuarial and consulting firm Milliman have launched an initiative to focus on the changing retirement income landscape in Australia.

ASIC bans former CEO for 'misleading activities'

JAMES FERNYHOUGH  |  FRIDAY, 7 JUN 2013
Murray John Priestley, former chief executive of Lifestyle Group, has been banned from providing financial services for three years.

Free service may help advisers bypass FoFA costs

JAMES FERNYHOUGH  |  THURSDAY, 6 JUN 2013
Curve Securities' new service, 'TD Gateway', will enable financial advisers to bypass many of the costs associated with the Future of Financial Advice (FoFA) reforms, according to Curve managing director Andrew Murray.

SME with accountant advice are more successful: research

LAURA MILLAN  |  THURSDAY, 6 JUN 2013
Small and medium enterprises (SME) using their accountants as advisers are more likely to achieve financial success, according to MYOB Business Monitor research.

Government extends TASA exemption

LAURA MILLAN  |  THURSDAY, 6 JUN 2013
The federal government's Assistant Treasurer David Bradbury has extended the exemption for financial advisers of the Tax Agent Services Act (TASA) bill and has referred the bill to the Parliamentary Joint Committee for an inquiry.

TASA necessary for customer protection: accountants

LAURA MILLAN  |  WEDNESDAY, 5 JUN 2013
The Institute of Public Accountants (IPA) is supporting the Tax Agent Services Act (TASA) scheduled to be voted on today in the House of Representatives.

AFA moves into broadcast to promote advice vision

LAURA MILLAN  |  WEDNESDAY, 5 JUN 2013
The Association of Financial Advisers (AFA) is in the initial stages of a new broasdcast strategy to raise awareness about the importance of receiving financial advice.