Royal Commission

Financial planning

Grandfathering removal a policy 'black hole' says AFA

The Association of Financial Advisers has called for the release of key consultation submissions and for greater clarity around the detail of the Government’s legislation...

Policy & Regulation

AustralianSuper frequent flyer offer prompts concern

A new frequent flyer promotion by AustralianSuper has generated criticism from some financial advisers....

Financial planning

The Royal Commission should not go unchallenged – AFA

The findings and recommendations of the Royal Commission cannot be left to go unchallenged in circumstances where the outcome was far from perfect and, in some circumstan...

Financial planning

2,900 advisers leave industry in wake of banks, AMP

The exit of the Big Four banks and the change in strategy by AMP Limited will see planner numbers decrease by almost 2,900, according to the latest findings from this yea...

Policy & Regulation

IOOF share price recovers but short of highs

The IOOF share price has recovered sharply following its victory against the Australian Prudential Regulation Authority in the Federal Court but is still well short of it...

Features

InFocus: Asset-based fees – utilitarian or inappropriate?

Mike Taylor writes that while the critics of asset-based fees paint them as being as inappropriate as commissions, the commercial evidence suggests their use fills an imp...

Financial planning

How ASIC ran out of pages to explain grandfathering fall-out

The Australian Securities and Investments Commission chairman, James Shipton, has claimed the regulator simply didn’t have enough pages to explain the implications of end...

Financial planning

Cut out cold calling warns FSC

Insurance firms should be prevented from pressuring people to buy products over the phone, according to the Financial Services Council. ...

Financial planning

Grandfathering – ASIC relied on sample-based data

The Australian Securities and Investments Commission has admitted that its earlier pronouncements on ending grandfathered commissions was based on sample-sized data....

Financial planning

ASIC looks to super funds as advice providers

The Australian Securities and Investments Commission has acknowledged the likelihood of an advice gap, particularly for lower income earners, but is looking to superannua...

Financial planning

FSC backs life insurance changes

The Financial Services Council has thrown its support behind extending Unfair Contract Terms regime to life insurance....

Financial planning

End TPB/FASEA duplication says FSC

There is an urgent need to end the regulatory overlap between the Tax Practitioners Board and the Financial Adviser Standards and Ethics Authority, according to the Finan...

Financial planning

Reality check on value of advice practice

A panel of senior planning group executives have told a Money Management conference that advisers should lower their expectations with respect to the value of their advic...

Financial planning

Asset-based fees – what would advisers do without them?

Despite the criticism which flowed from the Royal Commission, new research has confirmed that asset-based fees are the method most-used by advisers in dealing with mid-ti...

Policy & Regulation

ASIC flags RC criminal charges

The Australian Securities and Investments Commission has flagged that there are at least two matters emanating from the Royal Commission which may result in criminal char...