Industry

Consumers will be bamboozled by the government’s plan to divide advisers into “experienced” and “relevant” camps, the association explained. That, and the need for a sunset clause, mean the current proposal needs work.

The 16,000 advisers providing full-service, holistic advice aren’t the ones who can plug the advice gap, Mota explained. Levy’s plan, however, has the potential to facilitate a “quantum shift” in the industry.

While FoFA was the right policy for its era, Ripoll says the industry has come a long way and has different needs. The Quality of Advice Review’s proposals are an “important step” for today’s industry, he believes.

The RBA will either take the road that equity markets are pricing in, and try to nail a smooth landing, or follow the road that bond markets anticipate and re-raise interest rates, according to Atrium’s Brendan Paul.

After buying Powerwrap and shrugging off its own buyout offer from Netwealth, Praemium has joined the top tier of platform providers on the back its data and reporting capabilities.

Advisers can practice without a relevant degree for around 30 years according to the draft proposal. They do need a clean record, however – but only up to the end of 2021.

While it pays for advisers to work closer to a large cohort of well-heeled clients in metropolitan areas, the opposite is true for paraplanners, with scarcity of talent pushing salaries sky-high for regional workers.

The new association will be branded with its key purpose – providing a unified voice representing advisers – reflected in speech bubbles over the ‘A’s in its name.

The hits keep coming for the country’s primary stock exchange, which is now under investigation by the corporate regulator for its oversight of the doomed upgrade to its clearing system.

The converged advice and accounting group will go to shareholders with a proposal to change its name to ‘Count’, which it hopes will “better reflect the nature” of its operations.

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.