The latest issue of Financial Standard now available as an e-newspaper
|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.|
|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.|
|As Melbourne has returned to a strict lockdown to battle a second wave of COVID-19, FASEA has responded by bringing back remote tests.|
|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.|
|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 Financial Group has entered into a purchase of assets agreement with financial advice firm Total Cover Australia, through the company's subsidiary InterPrac Securities.|
|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.|
|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.|
|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.|
|Implemented Portfolios (IPL) has entered into an agreement with Wealth Today to provide their financial advisers with an individually managed account (IMA) offering.|
ASIC deputy chair Karen Chester brought to light discrepancies in Daniel Crennan's resignation statement in front of a senate hearing, clarifying the dates that he found out about the issues that led to his resignation.
The Australian Stock Exchange has pushed back the CHESS replacement date by another year to April 2023.
The Victims of Financial Fraud (VOFF) group have written to senators slamming ASIC chair James Shipton for ignoring their requests for help but finding "time to submerge his own head in the trough allegedly at taxpayer expense".
HUB24 announced a series of significant transactions, including plans to acquire Xplore Wealth and the sale of its financial advice business.
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