In Practice

Despite increased volatility emanating from the banking sector, tech stocks have been supported by falling bond yields on fears the global economy could slip into recession this year, with big-name companies leading the gains.

The last thing an adviser wants is for their client to be sitting in front of another adviser in 12 months, explaining how their last adviser didn’t understand them. But what are advisers doing to prevent it?

The wealth management arm of Bell Direct believes the principles-based regulatory system proposed in the advice review will not only facilitate the dissemination of advice, but encourage development of digital models that will facilitate transactional advice.

AI language generators like ChatGPT pose about as much threat to advice as robo does, which is to say not much. But much like robo, ChatGPT and its contemporaries might just provide advisers with an efficiency tool that can help build scale and better service clients.

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.

Levy made no major deviations in her final suite of proposals, with Treasury left to mull on a blueprint for reform that should usher in a less prescriptive, two-tiered advice regime. But there are a few tweaks that might raise eyebrows.

The percentage of paraplanners that have ambitions to become qualified financial advisers has decreased dramatically, with several key drivers behind the change.

Advisers are rallying around the prospect of upfront advice fees becoming tax deductible after the ATO announced a review of Tax Determination 95/60.

Adviser James O’Reilly had a long-held personal ambition to “stick a pin in the ground” and make a difference, but it was realising how much his clients wanted leadership on sustainable investing that sparked change in the way his practice manages money.

Clients want advisers to ask them questions. They want advisers to know more about them, and research from Invesco Global Consulting can shed some light on the specific things they want to know about.

The long-running project has been shelved after a devastating Accenture report cited multiple areas of concern. ASIC chair Joe Longo said the ASX “failed to demonstrate appropriate control”.

7investing lead adviser Anirban Mahanti says companies have been thwarting cyber threats for a long time. However, as data moves to the cloud, systems have failed to keep up.