SAFAA

Financial planning

SIAA name change to highlight breadth of profession

The name change decision by the Stockbrokers and Financial Advisers Association was about highlighting the profession rather than a decision to distance itself from the a...

Financial planning

SAFAA drops ‘financial adviser’ name

The organisation would now be known as the Stockbrokers and Investment Advisers Association as not all of its members provided financial advice....

Financial planning

Unpacking the personal advice DDO carve-out

Advisers providing personal advice may have an exemption regarding complying with Target Market Determination but confusion remains around proving the use of the informat...

Financial planning

The AFSL regime should not be 'one size fits all'

The Stockbrokers and Financial Advisers Association (SAFAA) has urged the Australian Law Reform Commission (ALRC) to consider stockbrokers as distinct from financial plan...

Financial planning

Extra costs likely if wholesale test amendments go ahead: SAFAA

Advisers who have moved away from servicing retail clients could struggle and require further costs and education if a move goes ahead to reclassify wholesale investors, ...

Financial planning

Wholesale investors should be excluded from CSLR

Extending the Compensation Scheme of Last Resort to wholesale investors could open up ‘gaming’ of the system by those who could afford court costs, according to the Stock...

Financial planning

Education pathways ‘common sense’: SAFAA

The financial advice industry needs to keep experienced advisers to mentor the next generation, especially when there is a market crash, and to curb clients being orphane...

Financial planning

SAFAA calls for PI consultation

The organisation believes a review into professional indemnity insurance is crucial before a compensation scheme of last resort can be filed, in order to identify sources...

Financial planning

Hume wrong not to regulate finfluencers: SAFAA

The Government should be regulating finfluencers and they are not the same as getting advice from a taxi driver or guy “at the pub”, according to the Stockbrokers and Fin...

Financial planning

ASIC report on ASX welcomed by SAFAA

The Stockbrokers and Financial Advisers Association has welcomed the report that led to the corporate regulator putting additional licence conditions on the Australian Se...

Policy & Regulation

Consumer groups join industries bodies in CSLR opposition

Eight consumer groups have united with eight industry bodies in opposition to the compensation scheme of last resort (CSLR) legislation in its current form....

Editorial

Is the Government’s inquiry into capital concentration a result of their own doing?

While the Government has called the inquiry “urgent”, what is perhaps more urgent is handling the advice industry given droves of advisers are leaving the industry due to...

Financial planning

Don’t shut first-time investors out of advice: SAFAA

First-time investors currently sourcing information from social media should not be shut out of receiving financial advice in the future as a result of public policy. ...

Financial planning

Advice regulatory burden to impact capital concentration

The unmet advice needs gap brought by the increasing regulatory burden will diminish access to investment opportunities and inevitably impact capital concentration and co...

Policy & Regulation

ASIC levy relief welcomed

Industry bodies have welcomed the Government’s decision to implement a temporary reduction in cost recovery levies for the next two years, as well as a review of the indu...