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COMPLAINTS
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...
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...
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...
Financial planning
Financial advisers only make up around 1.4% of complaints to the Australian Financial Complaints Authority, while life insurance is around 2%....
People & Products
Emma Curtis has been appointed as lead ombudsman for insurance and Suanne Russell as lead ombudsman for small business....
Financial planning
Financial advisers distrust the Australian Financial Complaints Authority because it is perceived to have ‘coached’ complainants and Treasury is being urged to investigat...
Financial planning
Detailed file notes are one of the biggest factors that can help defend financial planners against complaints and planners need to be innovative when managing their recor...
Policy & Regulation
The Federal Government has acted to initiate the scheduled review of the Australian Financial Complaints Authority but its terms of reference will not specifically touch ...
Policy & Regulation
The Australian Securities and Investments Commission has seen a “significant escalation” in complaints about unlicensed operators providing financial product advice witho...
Superannuation
Up to 20 complaints left unfinished by the final closure of the Superannuation Complaints Tribunal will need to be handled by the Australian Financial Complaints Authorit...
Financial planning
New data provided to a Parliamentary Committee had revealed the degree to which licensees are better offer resolving client remediation and other complaints via Internal ...
Financial planning
There were 1,332 complaints out of 84,500 against planners in the last financial year which the Australian Financial Complaints Authority says is “fantastic”....
Financial planning
A senior Australian Financial Complaints Authority ombudsman has acknowledged that financial advisers are doing it tough in a tricky environment and that the authority wi...
Superannuation
The Australian Financial Complaints Authority has been hit by a surge of complaints relating to hardship early release superannuation, with many based on superannuation f...
Financial planning
More than 600 complaints were in relation to superannuation and the delays in early release, according to the Australian Financial Complaints Authority....
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MARKET INSIGHTS
Podcast
Interesting. Would be good to know the details of the StrategyOne deal....
It’s astonishing to see the FAAA now pushing for more advisers by courting "career changers" and international recruits,...
increased professionalism within the industry - shouldn't that say, FAR register almost halving in the last 24 months he...