Professional Planner

With industry numbers declining, the Financial Advice Association intends to combat the decrease adviser numbers by recruiting financial advisers from India and assisting the smooth addition of the new class of advisers, as proposed by the Delivering Better Financial Outcomes bill. Financial Advice Association Australia (FAAA) #industry #dbfo #demand #faaa #financialadvisers #financialplanning #financialservices

Morningstar has fired a warning shot to advisers and investors about its confidence with troubled profit-to-member fund Cbus over talent retention, governance and lack of independence from unions. The concerns come the day after the fund spruiked its new advice offering which had caught the Financial Advice Association – a key partner for external referrals – by surprise. Morningstar Cbus Super Fund #faaa #retention #governance #superfund #financialadvisers #financialplanning #financialservices

The impending intergenerational wealth transfer is considered an “existential threat” for advisers around the globe, according to the Natixis 2024 Global Survey of Financial Professionals. Advisers are focused on keeping client heirs on the books and bringing in new clients to continue growing their business. Natixis Investment Managers #intergenwealthtransfer #modelportfolios #investmentprocess #financialadvisers #financialplanning #financialservices

Profit-to-member super fund Cbus has unveiled a new advice offering which it says gives members the option of middle ground retirement guidance without paying external advice fees, but the fund’s retirement advice senior manager Kristin Bishop says the relatively low price point is a function of the fee subsidisation in its intrafund advice model. Kristin Bishop CFP® #cbus #retirement #superfund #intrafund #financialadvisers #financialplanning #financialservices

The Australian Financial Complaints Authority has seen a reduction in its backlog of complaints, closing more than it received in FY24. The resolved cases included one related to Dixon Advisory that ruled in favour of the maligned conflicted advice business where the claimant wasn’t worse off. Australian Financial Complaints Authority Patrick Hartney Alexandra Sidoti Shail Singh Eunice Sim #afca #dixonadvisory #smsf #complaints #financialadvisers #financialplanning #financialservices

ASIC has clarified the distribution of Financial Services Guides is not required when dealing in financial products as a result of providing financial advice. The Financial Advice Association welcomed the distinction but noted that it is temporary measure and hoped the government will step up with a permanent fix. ASIC Financial Advice Association Australia (FAAA) #fsg #dbfo #regulation #financialservicesguide #financialadvisers #financialplanning #financialservices

A profession-wide, cautious approach to compliance means the overall advice ecosystem should be ahead of the curve if the government modifies consumer law to further support the safe and responsible use of AI by businesses. Andrew Whelan Alex G. Joel Ronchi #ai #acl #treasuryreview #regulation #financialadvisers #financialplanning #financialservices

If you’ve wondered why private markets and alternatives are being pushed more by fund managers the answer is simple: competition from lower cost passive options and active management from underperformance has meant active managers have needed to re-shift their value proposition, according to research from Morningstar. Morningstar Shaun Ler, CPA #managedfunds #etf #financialadvisers #financialplanning #financialservices

The International Monetary Fund has warned that “liquidity mismatches” are brewing within Australian super funds, as the UN finance agency expressed worries that members might be able to switch out of investment options with too much flexibility considering funds’ substantial investments in illiquid assets. But super industry leaders say the nation’s unique system is well-equipped to handle itself. #investment #IMF #cbus #asfa #morningstar #rba #super #financialadvisers #financialplanning #financialservices

The Compensation Scheme of Last Resort has estimated the FY26 cost recovery levy to exceed the $20 million cap, meaning the government will have to use its discretionary powers to cover the excess. The Financial Advice Association has called for any surplus to spread across a broader range of sectors. #cslr #faaa #finity #dixonadvisory #financialadvisers #financialplanning #financialservices