iStock-467460096

Curious Poll Result

The majority of advisers use either three product providers on a regular basis or more than five, in what appears to be a curious result in our latest poll. (more…)

Continue Reading
0 · November 14, 2017 in Compliance & Regulation, Polls  
iStock-525263185

ASIC Calls Time on ‘Independent’ Advice

ASIC will move ahead with efforts to restrict the use of the term ‘independent’ when referring to advice and has warned those using similar terms to stop doing so by the end of December.  (more…)

Continue Reading
1 · November 14, 2017 in Compliance & Regulation  
iStock-120504468

Former AFA CEO Named to ASIC Peer Review Panel

Former AFA Chief Executive, Brad Fox has been named as one of initial members of ASIC’s newly formed peer review body, the Financial Services and Credit Panel (FSCP). (more…)

Continue Reading
3 · November 10, 2017 in Appointments, Associations, Compliance & Regulation  
iStock-871012382

Regulators Confirm High Levels of Claims Acceptance

More than 90 per cent of life insurance claims lodged during 2016 were accepted by life insurance companies, according to new data released by APRA and ASIC. (more…)

Continue Reading
5 · November 9, 2017 in Claims  

ASIC Suspends Licence of Risk Firm

ASIC has temporarily suspended the licence of a Sydney based life insurance advice business after it failed to lodge financial statements and auditor’s reports for a period of two years. (more…)

Continue Reading
0 · November 8, 2017 in Compliance & Regulation  

Former CBA Adviser Pleads Guilty to Forgery

A former adviser with Commonwealth Financial Planning (CommFP) has pleaded guilty to forgery, five years after he was permanently banned by ASIC. (more…)

Continue Reading
0 · November 8, 2017 in Compliance & Regulation  
iStock-118681700

Latest Poll – Use of APLs

Our latest poll asks you to declare how many different product providers you use on a regular basis. (more…)

Continue Reading
2 · November 8, 2017 in Compliance & Regulation, Polls  
iStock-533045204

APL Product Use Catches ASIC’s Attention

ASIC is examining how advisers use Approved Product Lists and is investigating whether the range of products on lists is being used to benefit consumers. (more…)

Continue Reading
1 · November 7, 2017 in Compliance & Regulation, Products  
iStock-487648178

Aligned Advice Models Continue to Lose Numbers

Vertically integrated advice groups are losing around 10 per cent of their financial advisers each year with thousands set to move away from that advice channel in the next three years, according to a new consultancy firm. (more…)

Continue Reading
0 · November 6, 2017 in Dealer Groups, Practice Management, Remuneration, Services  

Advisers Still in Dark on Dispute Costs

Financial advice groups will be required to contribute to costs related to disputes brought against them under a single dispute resolution scheme, but have yet to be told the extent of those costs. (more…)

Continue Reading
0 · November 3, 2017 in Compliance & Regulation