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Financial Planning
Cost of advice soars as red tape grows
ELIZA BAVIN  |  WEDNESDAY, 21 OCT 2020
With research showing the average cost for a Statement of Advice has increased 10% in 12 months, the Financial Planning Association of Australia (FPA) is warning of the detrimental impact ongoing reform is having on financial advisers and consumers.
The case for an overhaul of advice: Rice Warner, FSC
ANNABELLE DICKSON  |  TUESDAY, 20 OCT 2020
The Financial Services Council (FSC) has launched a report by Rice Warner that makes a series of recommendations that would significantly change the status quo of financial advice and lead to policy debate.
Self-licensing on the horizon
KARREN VERGARA  |  MONDAY, 19 OCT 2020
Consolidation in the financial advice industry is leading to a second wave of advisers leaving big institutions and potentially taking the self-licensing path.
BT cuts Wealth Connect
ALLY SELBY  |  FRIDAY, 16 OCT 2020
BT has proposed changes to its Wealth Connect business which could see at least 38 roles become redundant, as Westpac continues to review its wealth platform, superannuation, investments and insurance businesses.
RIAA, AXA IM launch adviser ESG guide
ANNABELLE DICKSON  |  THURSDAY, 15 OCT 2020
As more environmental, social and governance (ESG) and impact investment products become available to investors, it is integral that advisers become familiar with them, according to AXA Investment Managers and Responsible Investment Association Australasia ...
Through good and bad: Advisers add value
JAMIE WILLIAMSON  |  THURSDAY, 15 OCT 2020
Despite COVID-19 volatility, financial advisers have managed to deliver value of 5.2% or more each year to clients, according to new research.
A new model is coming: Licensees
ELIZABETH MCARTHUR  |  THURSDAY, 15 OCT 2020
At the Association of Financial Advisers' Conference, a panel of licensee executives agreed that the advice industry will be pushed towards a new model in the coming years.
Advice reforms to be legislated: Hume
ANNABELLE DICKSON  |  WEDNESDAY, 14 OCT 2020
After having previously been placed on hold, the single disciplinary body for financial advisers and the compensation scheme of last resort is set to be legislated by mid-2021.
Financial advice more important than ever: HUB24
ELIZA BAVIN  |  TUESDAY, 13 OCT 2020
HUB24 said financial advice is more important than ever as it posts record inflows and signs close to 30 new licensees in the September quarter.
Class launches new product
ANNABELLE DICKSON  |  TUESDAY, 13 OCT 2020
Self-managed super fund administration and software provider Class has launched an accounting and administration product for the growing number of discretionary and unit trusts.
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