quality of advice review

Review leader Michelle Levy said the proposals need to look at the “full universe” of providers. If ‘good advice’ is to replace best interests duty while also opening the gates to product providers, the duties involved will need to fully match the breadth of that task.

The rise of digital photography at the turn of the 21st century basically spelled the end of Kodak. Similarly, the rise of digital advice is the death knell for traditional advice businesses unless they can adapt quickly, says Arch Capital’s Nigel Baker.

The investment app creator believes he has found a way to bridge the gap between advisers and the broader addressable advice market.

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.

The question, in my view, isn’t what is affordable. It’s this: what price should we be willing to pay for long-term financial security?

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 global ETF and would-be superannuation fund provider believes a scaled compliance model would better serve the domestic advice market.