GENERAL ADVICE

Financial planning

The Stockbrokers and Investment Advisers Association believes the Quality of Advice Review proposals classifying broker research as personal financial advice will have ne...

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Financial planning

The term ‘general advice’ should be renamed ‘general information’ according to Scientiam, in order to strengthen consumer protections and minimise confusion....

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Financial planning

Due to the level of personal information required for investment and superannuation advice, general advice only works for risk advice, while the corporate regulator confi...

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Financial planning

The corporate regulator’s decision to ignore the problem with the term ‘general advice’ will continue to confuse consumers, according to the Financial Planning Associatio...

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Financial planning

The word ‘advice’ should be extracted from intrafund, general, and robo because they are really just providing information....

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Financial planning

Renaming ‘general advice’ will be crucial to the manner in which digital advice is delivered in Australia and how it sits alongside traditional advice models, according t...

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Financial planning

The Australian Securities and Investments Commission has confirmed the reliance of superannuation funds on general advice and the regulator’s concerns about vertical inte...

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Financial planning

The Australian Securities and Investments Commission has issued a warning to firms seeking to operate under a ‘general advice’ model....

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Financial planning

A major bank will refund over $3 million to more than 100 retail customers, after an investigation into whether customers believed they were receiving personal rather tha...

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Financial planning

Many consumers are worryingly unaware of the distinction between general and personal advice, with 47 per cent of Australians incorrectly identifying general advice....

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Financial planning

Superannuation funds have been placed on notice about the dangers of their telephone consultants drifting into their area of specific personal advice, with a fund ordered...

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Financial planning

Replacing the term ‘general advice’ represents a positive step but it may need to be replaced by multiple terms and arrangements, according to the Australian Securities a...

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Financial planning

The Productivity Commission has agreed the term ‘general advice’ is misleading and should be changed, with advice being regarded as being owned by professional advisers....

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Financial planning

The Commonwealth Bank has confirmed it has looked at how far it can go within the legal constraints of general advice....

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Financial planning

The Australian Securities and Investments Commission is looking to crackdown on financial services licensees seeking to avoid their obligations by claiming personal advi...

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