White Paper on modernising financial advice hits the right note

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The SMSF Association welcomes the Financial Services Council’s White Paper on Financial Advice, saying it aligns with its goals of modernising financial advice and enhancing the professionalisation of the advice sector. SMSFA Association Deputy CEO/Director of Policy & Education Peter Burgess says the White Paper, which was underpinned by analysis by KPMG, very much reflected what... Read more continue reading

Actuaries develop checklist for appointment of financial services Directors to ensure Boards do better

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Two actuaries have developed a skill and capability checklist to help Australian bank and insurance companies appoint Directors with the right qualifications to prevent misconduct uncovered by the Hayne Royal Commission. Barry Rafe, a former Actuaries Institute President and experienced director and board advisor, and Ian Laughlin, a former APRA deputy chair, said their Dialogue[1]... Read more continue reading

AFA welcomes FSC White Paper

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The Association of Financial Advisers (AFA) welcomes the release of the Financial Services Council (FSC) White Paper (the White Paper), which follows the FSC Green Paper released earlier this year. AFA General Manager, Policy and Professionalism, Phil Anderson, said the White Paper is an important contribution to the ongoing debate about the need to fix... Read more continue reading

FSC blueprint a positive step in the right direction

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The Advisers Association (TAA) believes the Financial Services Council (FSC) blueprint for a simplified regulatory framework is a positive step in the right direction, and has the potential to deliver better outcomes for consumers and advisers. TAA CEO, Neil Macdonald said, “We are particularly pleased to see the FSC’s call for the separation of product and... Read more continue reading

Twenty finalists revealed in the 2021 FPA Awards 

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The Financial Planning Association of Australia (FPA) has revealed the shortlist for the six categories of the 2021 FPA Awards. Now in its ninth year, the FPA Awards recognises exceptional financial planners, paraplanners, university students and FPA Professional Practices from across Australia. The Awards also celebrate the individuals and businesses who go above and beyond to deliver outstanding results for clients. FPA... Read more continue reading

Pro Bono Financial Advice Network appoints new Chair, Deputy

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The Pro Bono Financial Advice Network (PFAN) is pleased to announce the appointment of existing Board members, Nicola Beswick as Chair, and Natalie Kleibert as Deputy Chair. Ms Beswick and Ms Kleibert will be responsible for leading PFAN into the next phase of its purpose – improving the financial wellbeing of Australians living with serious illness and/or... Read more continue reading

Saving money trumps taking a holiday: COVID gives Australians a financial health check  

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Australians are making some healthy financial choices as they endure a challenging second year of the COVID pandemic, with more Australians prioritising hitting a savings goal over taking a holiday in the next 12 months as the country prepares to emerge from months of lockdown. The surprising result highlights a silver lining from the global... Read more continue reading

SMSFs exemption from retirement income strategy legislation gets thumbs up

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The SMSF Association has thrown its in principle support behind the Government’s decision to remove SMSFs from the legislative requirement for trustees to develop a retirement income strategy for fund members. Commenting on the release of the draft legislation that will introduce a requirement for APRA regulated fund trustees to develop a retirement income strategy... Read more continue reading

Major education partnerships announced to enhance SMSF Professionalism

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The SMSF Association has announced two new major education pathways for its coveted SMSF Specialist Advisor designation (SSATM). The SMSF Association has entered into new partnership agreements with Kaplan Professional and Deakin University that will enable students to complete the SSA educational requirements as an elective unit in their respective Master of Financial Planning degrees.... Read more continue reading

FPA statement in response to Treasury’s announcement of further updates to DDO

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The FPA welcomes the Treasury’s announcement of further updates to the DDO regime by removing the requirement for financial planners to report nil complaints or nil information to product manufacturers. Given this would have been the vast majority of reporting required by financial planners in relation to target market determinations (TMD), this administrative relief by... Read more continue reading