Industry Insights
Quality of Financial Advice Review
By the end of this year all of us will have a picture of what the advice sector could look like when Michelle Levy’s Review makes its recommendations to government.
Guidance for Divesting Russian Assets
The FSC has released guidance to assist superannuation trustees and fund managers with divestment of Russian assets, consistent with the strong expectations outlined by the Government.
Why taking a genetic test won’t stop you getting life insurance
In 2019 Australian life insurers introduced a Moratorium on using genetic test results to assess life insurance applications.
Superannuation fund holdings for Russian assets
On the 3rd of March 2022, the Federal Government confirmed its strong expectation that Australian superannuation funds will review their investment portfolios and take steps to divest any holdings in Russian assets.
The redesign of financial advice is underway
Over-regulation has caused the unprecedented attrition of advisers from the industry. The advice sector begins the year with an estimated 18,500 advisers, having experienced a 25% decline from over 25,000 advisers three years ago, in a market of 2.6 million consumers of financial services.
Compensation Scheme of Last Resort (CSLR) update
On 25 November 2021, the Senate referred the Financial Accountability Regime and CSLR legislation to the Economics Legislation Committee (Committee) for inquiry and report by 15 February 2022.