{"id":69012,"date":"2023-12-07T07:57:12","date_gmt":"2023-12-06T21:57:12","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=69012"},"modified":"2023-12-12T22:19:23","modified_gmt":"2023-12-12T12:19:23","slug":"life-companies-to-deliver-financial-advice","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2023\/12\/07\/life-companies-to-deliver-financial-advice\/","title":{"rendered":"Life Companies to Deliver Financial Advice"},"content":{"rendered":"

Insurers, along with banks and super funds, will be able to give customers personal financial advice.<\/p>\n

A report in the Australian Financial Review<\/em> says the Government is to allow a new class of advisers requiring fewer qualifications than current advisers.<\/p>\n

\"\"<\/a>
Stephen Jones.<\/figcaption><\/figure>\n

The changes are expected to be announced by Financial Services Minister Stephen Jones today.<\/p>\n

Under the changes, financial service providers will be able to give customers personal advice through less-qualified staff \u201c\u2026provided they do not charge a separate fee or get a commission for this service,\u201d the AFR states.<\/p>\n

Statements of Advice will also be scrapped but the AFR reports all advice across all sectors will be subject to the \u201c\u2026new modernised best interests duty regardless of its source.\u201d<\/p>\n

The Government is also expected to remove the safe harbour requirements.<\/p>\n

Click here<\/a> for a detailed overview of the Government’s Delivering Better Financial Outcomes roadmap and here<\/a> for the Riskinfo story on the announcements. Also see: FAAA Deeply Concerned on Latest Advice Reforms<\/a>.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Insurers, along with banks and super funds, will be able to give customers personal financial advice. A report in the Australian Financial Review says the Government is to allow a new class of advisers requiring fewer qualifications than current advisers. The changes are expected to be announced by Financial Services Minister Stephen Jones today. Under […]<\/p>\n","protected":false},"author":24,"featured_media":69015,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,8282],"tags":[],"class_list":["post-69012","post","type-post","status-publish","format-standard","has-post-thumbnail","category-compliance-regulation","category-government"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/69012","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=69012"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/69012\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/69015"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=69012"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=69012"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=69012"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}