ASIC Paper on affordable advice ‘a welcomed initiative’

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The SMSF Association welcomes the release of ASIC’s Consultation Paper, “Promoting access to affordable advice for consumers”, believing it to be an important step forward in addressing the vexed issue of consumers having access to quality financial advice in a cost-effective way. Association CEO John Maroney says: “It’s encouraging that ASIC is committing to consult... Read more continue reading

FPA launches Aged Care Specialist designation for financial planning professionals

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The Financial Planning Association of Australia (FPA) has announced the launch of the FPA Aged Care Specialist professional designation in collaboration with Aged Care Steps’ Accredited Aged Care Professional™ program. The FPA is committed to providing its members and the wider financial planning profession with the skills and resources to meet the needs of Australians... Read more continue reading

FPA names Semester 2, 2020 winner of Gwen Fletcher Memorial Award

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The Financial Planning Association of Australia (FPA) has named Jacob McCudden of Back To Back Financial Planners in Young NSW as the Semester 2, 2020 winner of the Gwen Fletcher Memorial Award. Named after the late ‘First lady of Financial Planning’, the award recognises the highest performing student in the CFP® Certification Unit (CFP C) for... Read more continue reading

Ground-breaking Rice Warner report to launch SMSF Week

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The SMSF Association’s SMSF Week, to be held virtually from 23-27 November, will launch a ground-breaking report by the actuarial firm Rice Warner about the costs of running an SMSF. The SMSF Association CEO John Maroney says: “In the face of ongoing public debate about the appropriate minimum size of an SMSF, and ASIC statements... Read more continue reading

Six-member SMSFs a step closer  

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The passing of the legislation to give effect to the increase in the maximum number of SMSF members from four to six is a step closer following the Senate Economics Legislation Committee’s recommendation that the Bill be passed. The Committee tabled its report this week after the Bill was referred to the Committee for inquiry... Read more continue reading

Does FASEA Code of Ethics signal defeat on accessibility of personal financial advice?

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While the draft FASEA Code of Ethics (the Code) is another step forward in the professionalisation of financial advice, The Advisers Association (TAA) believes the scope is too narrow, too constraining and at odds with its broader intent. “Given that the broader intent of the Code is to meet the expectations of ‘the Australian community’... Read more continue reading

Time to ensure FASEA Code meets the ‘intent’

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The Financial Adviser Standards and Ethics Authority (FASEA) should commit to amending the written Standards in the Code of Ethics. FASEA’s updated Guidance now gives greater importance to the ‘intent’ of the Standards that was unclear in preceding FASEA documentation and Guidance.  But the SMSF Association still believes the strict wording of the Standards and... Read more continue reading

AFA challenges FASEA Code of Ethics Guide

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On Monday 2 November 2020, the AFA made a submission to FASEA in response to their latest Code of Ethics Guidance. This Guide follows earlier documents released in October 2019 and December 2019, and is intended to provide additional information on the intent of each standard and how to apply the standard. In our submission, we have continued... Read more continue reading

AFA announces new Executive, Board members

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The Association of Financial Advisers (AFA) has announced a new AFA Board Executive, including Michael Nowak as AFA President; Sam Perera, Vice President, and Matthew Hawkins, Treasurer at its virtual Annual General Meeting (AGM) this week. Mr Nowak has been a member of the AFA Board for eight years and is the immediate past Vice... Read more continue reading

Future2 Foundation announces new Chair and Deputy Chair

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The Future2 Foundation is pleased to announce the appointment of Ms Julie Berry CFP®GAICD as Chair and of Ms Olivia Maragna CFP® as Deputy Chair to lead the foundation of the Financial Planning Association of Australia (FPA) into the next chapter of its work helping disadvantaged young Australians. Ms Petra Churcher is stepping down as Future2... Read more continue reading