personal advice

Policy & Regulation

The corporate regulator’s financial advice hub aims to be a single repository to help industry participants more easily find information....

Financial planning

ASIC’s non-action on general advice disappointing: FPA

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...

Financial planning

COVID-19 inquiries prompt new calls for intra-fund advice extension

Confronted by almost record levels of inquiries to call centres, superannuation fund executives have again canvassed extending the scope of intra-fund advice. ...

Financial planning

ASIC provides advisers a best interests break on DDO

The Australian Securities and Investments Commission will regard personal advice entailing client best interests as obviating many of the adviser strictures of the new de...

Financial planning

Did ASIC quietly raise the adviser levy?

The Australian Securities and Investments Commission has been accused of unilaterally and quietly raising the per adviser levy to $1,142....

Financial planning

ASIC denies knowledge of intra-fund extension

It will be up to the Government to determine whether superannuation funds will be able to use member cross-subsidies to fund intra-fund advice, according to the Australia...

Financial planning

Adviser given investment commissions banned

ASIC said Kyle Marshall did not understanding the meaning of personal advice and did not act in his clients’ best interest....

Financial planning

Citigroup to refund $3 million for general v personal advice blurring

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...

Policy & Regulation

Industry funds urge no carve-outs for claims handling

Industry funds body, the Australian Institute of Superannuation Trustees has urged that insurance claims handling be subject to the financial advice rules – something whi...

Financial planning

Consumers confusing general and personal advice

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

Financial planning

Super fund telephone consultant gave wrong personal advice

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...

Policy & Regulation

Will bank staff be mistaken for advisers?

The Australian Baking Association has warned that new Design and Distribution laws may result in bank staff being mistaken for advisers....

Life/Risk

Will Bill place advisers in conflict with insurers?

A key Senate Committee has been told that the Government’s new Design and Distribution Obligations and Product Intervention powers risk putting advisers in conflict with ...