Advice

When Invesco Global Consulting asked advice clients if they were having ESG conversations with their advisers, three specific investor groups stood out.

The advice review lead had said she wouldn’t comment on the recommendations while the government pondered its response. But with the consultation dragging on, she urged the government to get it done and let ASIC do the refinement.

Anne Graham and her fellow co-founders named their advice business Story Wealth because they believe every client has a compelling story to tell. Turns out Anne’s own story is quite the odyssey, as well.

Peter Burgess told the SMSF Association’s National Conference the industry group has pushed for some of the developments, while it continues to oppose others, such as a high-balance cap. The government now plans instead to double the tax rate for funds with very high balances.

With the mass exodus of advisers reaching its nadir, advisers are taking on more and more clients. Dunbar’s theory shows just how unsustainable this is.

Many have seen the value of their superannuation, property and share portfolios fall over the past six months, which has only highlighted the need for quality advice.

For wealth businesses to thrive the emerging affluent cohort is a savvy way to future-proof healthy client books. But building trust is a key component to making the relationships work.

As romantic as it may be to proclaim the emergence of an advice profession and to suggest that a ‘good advice’ duty is a panacea for systemic failures, the retreat of institutional licensees from advice is not necessarily evidence of our capacity for self-regulation.

As a financial adviser, making the right decisions matters. Not just for your client’s investment returns but for your confidence as well.

Specialist self-managed super fund advisers need to tread cautiously before giving a client “wholesale investor” status.

The fact that just 281 complaints were lodged about ‘failure to act in client’s best interests’ and 241 for the providing “inappropriate advice’, shows the legislative changes may well be having a positive impact on the industry. 

As one of the lawyers at the coalface of supporting impacted consumers both before and after the revelations of the Royal Commission, Maurice Blackburn is in a unique position to provide input into the Quality of Advice review.