phil anderson

Financial planning

Adviser losses disappointing but not unexpected

The financial advice industry is finishing the year with a loss of 2,189 advisers, however the worst is yet to come, according to Wealth Data....

Financial planning

Can social media positively impact advice?

Despite the level of misinformation on social media, it can still be a reliable gateway for people to get involved with professional, regulated advice....

Financial planning

ASIC levy relief ‘biggest win’ for 2021

Relief from the corporate regulator levy, which could have tripled in three years without action, is the biggest win for the industry this year, according to the Associat...

Financial planning

FASEA Standard 3 consultation genuine process: AFA

The Association of Financial Advisers has said it believes the education authority’s consultation on amending Standard 3 of its code of ethics is a genuine exercise and e...

Financial planning

Standard 3 amendment likely to be only change by FASEA

Given the education authority will transfer to Treasury in 2022, amendments to its code of ethics will likely be limited to Standard 3 given it has not indicated consulta...

Policy & Regulation

AFA ‘harbours concern’ over Better Advice legislation

The Association Financial Advisers will use the Quality of Advice review to push for tweaks to the single disciplinary body and the mechanism for registration to the Tax ...

Financial planning

AFA welcomes FSC white paper

The Association of Financial Advisers has welcomed the release of the Financial Services Council white paper that proposed recommendations to reduce the cost and time inv...

Outsider

If an Outsider screams…

Outsider recently found himself screaming at his computer screen while covering the Association of Financial Advisers (AFA) Evolve conference....

Policy & Regulation

Still issues with single disciplinary body legislation

The draft legislation for the Better Advice Bill has outlined the Financial Services and Credit Panel will convene on serious matters, but the Association of Financial Ad...

Financial planning

Ignoring advisers’ prior learning an ‘immense waste’: Opposition

Failure to recognise advisers’ prior learning is a waste of resources, according to Labor’s Stephen Jones. ...

Financial planning

DDO changes to remove nil complaint requirement

The Government is seeking to make amendments to the design and distribution obligation regime including removing the requirement for advisers and licensees to report whet...

Financial planning

How the AFA spends its cash

Around 12% of the association’s expenditures in FY21 has been on advocacy of financial advice which has been a “huge undertaking” due to overwhelming regulatory reform me...

Policy & Regulation

Has successful litigation been enough to cover ASIC levy difference?

Successful litigation against NAB, Westpac and Dixon Advisory could add enough to the corporate regulators coffers to cover the difference from the reduced levy....

Financial planning

Advisers need sufficient understanding of Oct reforms

There is likely to be broad issues with lack of awareness and preparedness with the five reforms coming into play in October, according to the Association of Financial Ad...

Financial planning

FASEA believes exam is 'fair'

While the authority argues the high pass rate shows it is an achievable exam for “competent” advisers and has been a boost for consumer confidence in the industry, data s...