New income thresholds for seniors health cards, downsizer rules, the transfer balance cap, changing work test requirements and the Home Equity Access Scheme are the five most common technical problem areas for advisers in 2022.
Positive flows negated an almost ten per cent drop in the ASX/S&P200 over H1 2022, with total funds increasing another $3.4 billion.
With 127 practices under its wing, the tie-up between Kon Costas’ ex-BT network and Deakin University will give 1,263 advisers a direct line to graduates and add an element of scale to what is currently a skinny pipeline of talent.
CEOs at the soon-to-merge associations say the two groups have become more aligned over the years. AFA members are no longer die-hard ‘riskies’, and the FPA membership base has come a long way from its institutional adviser roots.
Prompted by advice industry rationalisation, the Levy review and the need for a united voice in Canberra, the two major associations will invite members to provide feedback on a proposed merger.
Advice is set for a dramatic shift towards deregulation, with the Levy proposal paper sketching a plan to ditch statements of advice and best interest duty in favour of a new “good advice” directive.
The integration of its marquee business acquisitions has helped the nation’s largest provider of financial advice services turn the corner.
The chair will take a hard line on DDO and crack down on scams, but his major concern is crypto misinformation. “My job is to be frank with the Australian people,” he said.
The analysis required to distinguishing the hot from the irrationally over-heated is about more than numbers, according to Ruffer’s Lauren French.
“Fragmented” service models for advice groups will soon coalesce into three distinct business models according to KPMG’s Future of wealth management report.
