financial advisers

Financial planning

An online platform will help advisers to prevent their clients from suffering financial abuse as misconduct rises during the COVID-19 pandemic. ...

Financial planning

Compliance continues to be top adviser challenge

The most burdensome compliance-related task for advisers are file noting and data collection at the fact-find stage, according to a report. ...

Financial planning

Industry teams up to deliver DDO templates

The Financial Services Council has announced a collaborative work with members across the financial services industry to design templates to help enable the implementatio...

Financial planning

Advisers choosing fixed-term fees due to compliance complexity

While a fixed-term fee agreement is a valid alternative for advisers finding difficulty in the ongoing fee arrangement requirements, they need to ensure their fee chargin...

Financial planning

Over 40% of advisers looking to leave industry due to stress

Administration and compliance accounts for nearly 30% of all financial adviser work tasks and those factors along with education requirements look to be barriers to busin...

Financial planning

Over 1,200 advisers quit year-to-date

Around 300 financial advisers are known to have passed their Financial Adviser Standards and Ethics Authority exam but left the industry this year, according to data. ...

Financial planning

‘Career break’ should be last resort for exam takers

To avoid any uncertainty over the Financial Adviser Standards and Ethics Authority exam scheduling next year, advisers should only take the ‘career break’ option as a las...

Financial planning

Adviser industry suffering highest levels of burnout

Over 80% of financial advisers say they find regulatory and compliance demands to be highly or very highly stressful, according to a report. ...

Financial planning

Don’t look for FASEA exam ‘loopholes’: AFA

Advisers who want to continue in the industry should do everything they can to pass the exam this year as it is not clear whether they will be able to sit an exam next ye...

Financial planning

5 has been the most FASEA exam sittings

Five times is a charm for one adviser who sat the Financial Adviser Standards and Ethics Authority exam that many times before passing. ...

Financial planning

Total number of advisers drop below 20,000

This week saw a big drop in adviser numbers to 19,953 as licensees with limited advice services continued to cut advisers roles and advisers opting not to proceed with th...

Financial planning

Call to use Single Disciplinary Body to reduce, not increase costs

The Government and Treasury should seek to avoid repeating the FASEA mistakes by using the establishment of a Single Disciplinary Body to reduce regulatory costs. ...

Financial planning

Almost 60 advisers leave this week

As licensees continue to clean up their books before 30 June, this week saw a departure of 58 advisers, according to HFS Consulting. ...

Superannuation

SMSF scammers posing as financial advisers

The scammers are promising high returns of 8% to 20% per annum if the investors moved their super balance to a new self-managed superannuation fund. ...