Royal Commission

Financial planning

The Association of Financial Advisers has claimed the Royal Commission failed to hit what it was aiming at and, instead, has impacted small financial advisers and mortgag...

Financial planning

End to grandfathering has tipped the balance

An end to grandfathered commissions in 2021 has proved the final straw for many financial planners who were still debating their future in the industry, according to prel...

Financial planning

Gov announces financial counselling review

Building on comments from Royal Commissioner Kenneth Hayne on the importance of financial counselling financing, the Government has announced a review of the funding of t...

SMSF

RC to improve financial advice: SMSF Association

The Royal Commission has laid groundwork to improve the financial services sector and build a more trusted industry, according to the SMSF Association....

Life/Risk

Freedom Insurance in voluntary suspension

Freedom Insurance Group has entered a voluntary suspension on the Australian Securities Exchange, acknowledging it is not positioned to detail its financial position....

Financial planning

Will an end to grandfathering accelerate planner exits?

Has the Government’s decision to end grandfathering in 2021 altered your intentions with respect to remaining in the financial planning industry?...

Financial planning

Responsibility lies with management: EY

Kenneth Hayne’s emphasis on culture signals clearly that responsibility for misconduct lies with the senior management and boards of the entities involved, an executive a...

Financial planning

Ending grandfathering will alter the flow of $ billions

New analysis produced by research house Dexx&r has starkly revealed the dollar impact of removing grandfathering, with billions of dollars in superannuation funds under m...

Life/Risk

Synchron signals lobbying effort on risk commissions

Risk-focused financial planning group, Synchron has signalled its intention to lobby the Government for the retention of life/risk commissions beyond the 2022 Life Insura...

Life/Risk

Freedom Insurance enters trading halt

One of the companies adversely referenced in the Royal Commission, Freedom Insurance Group, has entered a trading halt on the Australian Securities Exchange pending an an...

Financial planning

AMP punishes past executives, defends vertical integration

AMP Limited has defended its vertically integrated structure in the face of Royal Commission criticism while confirming it has punished past executives with forfeiture of...

Financial planning

Grandfathering to end

The Federal Government has committed to a timetable to ending grandfathering and to entertaining life/risk commissions being further reduced....

Policy & Regulation

Mixed reaction to RC

Industry superannuation funds have welcomed the Royal Commission’s final report, but financial planning groups are concerned about the outcome for their members....

Policy & Regulation

APRA to keep closer eye on remuneration

The Australian Prudential Regulation Authority has been advised to conduct supervision of remuneration systems and review its current standards and guidance on the matter...

Financial planning

Hayne calls for end of advice fee deductions

The Royal Commission has recommended the deduction of any advice fee other than intra-fund advice from a MySuper account be prohibited, while their deduction from choice ...