Industry News

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When compliance detracts from good advice

16-Feb-2018 Kate Cowling, Professional Planner

Advisers who are driven by compliance often won’t end up with the best outcome for their client, a financial services lawyer said.

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Advisers need more education on handling deaths

16-Feb-2018 Tahn Sharpe

A prominent SMSF attorney has highlighted the need for advisers to be more educated around succession planning, especially in light of the 2017 superannuation reforms.

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Downsizer sale adds up for some, not all

13-Feb-2018 Max Newham, Professional Planner

Not long after the downsizer superannuation contribution (DSC) legislation was passed, people started asking whether it made sense to sell a home purely to increase someone’s superannuation. As usual, there is no definitive answer that applies to every situation.

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Robo-adviser joins forces with Heffron, Class

12-Feb-2018 Malavika Santhebennur

Robo-advice provider Six Park has announced two new strategic partnerships with Heffron and Class as part of its wider plans for 2018. In a signal the robo-adviser was looking to move into the business-to-business space in 2018, Six Park said it would partner with Heffron to offer a low-cost, digitally driven end-to-end SMSF service.

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Bitcoin exchange actively targeting SMSFs

12-Feb-2018 Krystine Lumanta, Self Managed Super

Digital currency exchange Independent Reserve is increasing its activities in the SMSF market this year after experiencing overwhelming demand from trustees looking to add digital currency assets to their portfolios.

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Back to school: Preparing for the incoming education standards

30-Jan-2018 Tahn Sharpe, Professional Planner

When Financial Services Minister Kelly O’Dwyer announced reforms aimed at lifting standards for financial advisers, the statement focused on an existing setup that “allowed some financial advisers to become qualified to provide financial advice to retail consumers after only four days of training”.

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Accountants to feel education standards pinch

30-Jan-2018 Malavika Santhebennur, Self Managed Super

Accountants wishing to continue to advise on SMSFs will bear the brunt of the new education standards as much as financial planners, but this is flying under the radar, an industry executive has warned.

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ASIC warns financial services licensees against 'cutting corners' on death nomination forms

19-Jan-2018 ASIC Media Release

The Australian Securities and Investments Commission (ASIC) is putting the financial advice sector on notice about meeting requirements for witnessing signatures, after finding issues with advisers failing to correctly witness binding death nomination forms for superannuation benefits.

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Advisers should ‘take market share’ from accountants

14-Jan-2018 Killian Plastow, Accountants Daily

Financial advisers are “significantly better placed” to advise SMSF trustees than accountants, according to the FPA.

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New education requirements expected to include accountants

10-Jan-2018 Miranda Brownlee, Accountants Daily

Educational changes currently sweeping through the financial advice industry are likely to include accountants with an AFSL, according to a compliance lawyer.

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