AFCA

Financial planning

The proposed user-pays model from the Australian Financial Complaints Authority followed industry feedback and would see 98% of investment and advice members pay only a $...

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Financial planning

Evans & Partners has set aside $8.2 million for penalties related to Dixon Advisory & Superannuation Services as 70% of affected clients transfer to E&P....

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Features

The examples of failed managed investment schemes have reopened the question around the Government’s proposed model for a Compensation Scheme of Last Resort, writes Oksan...

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Policy & Regulation

Greater oversight from the corporate regulator of financial and compensation arrangements will reduce unpaid determination risk and ensure the CSLR operates as a genuine ...

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Financial planning

The compensation scheme of last resort should be expanded to include the jurisdiction of the complaints authority, not retrospectively, according to the Financial Plannin...

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Financial planning

The complaints authority has outlined the key points advisers should be aware of to defend themselves when it comes to client complaints....

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Financial planning

The first review of the Australian Financial Complaints Authority has made 13 recommendations for its improvements but acknowledged these may result in increased costs fo...

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Life/Risk

While only making up 2% of total complaints received by the Australian Financial Complaints Authority, life insurance complaint handling time has almost doubled in two ye...

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Financial planning

Already making up a fraction of complaints, complaints about advisers have fallen 33% in the 2021/22 financial year so far, according to the Australian Financial Complain...

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Financial planning

The Australian Financial Complaints Authority is examining fees and funding ahead of the findings from an independent review and how it can treat smaller firms more fairl...

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Life/Risk

Income protection complaints accounted for the most complaints in regards to life insurance during FY2020-21, especially when it came to the calculation of benefits for b...

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Financial planning

A significant number of complaints made to the Australian Financial Complaints Authority have been paused due to the delay in the compensation scheme of last resort legis...

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Policy & Regulation

Eight consumer groups have united with eight industry bodies in opposition to the compensation scheme of last resort (CSLR) legislation in its current form....

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Financial planning

There is a strong likelihood that complaints regarding inappropriate advice will be resolved by agreement rather than a decision against the advisers, according to the Au...

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Financial planning

Failing to ensure clients understand risk profile questionnaires can mean advisers fail the ‘know your client’ obligation and leave them open to a complaint with only a 3...

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Interesting. Would be good to know the details of the StrategyOne deal....

4 days ago

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increased professionalism within the industry - shouldn't that say, FAR register almost halving in the last 24 months he...

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Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

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A former Brisbane financial adviser has been charged with 26 counts of dishonest conduct regarding a failure to disclose he would receive substantial commission payments ...

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Pinnacle Investment Management has announced it will acquire strategic interests in two international fund managers for $142 million....

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