For more than three decades the ways in which financial advisers deploy their client’s investment capital into markets has been evolving.
Australia’s financial planning industry is in urgent need of government and regulatory-backed legislation that separates licensing independent financial advice (IFA) from financial product sales, according to an advice firm chief.
An AMP-linked financial planning practice principal has questioned the thinking behind recent calls for a legal distinction between independent and restricted financial advice.
Australian Taxation Office will soon have new powers that will bolster the SMSF sector’s standards and prevent the savings vehicles from running into trouble.
From 1 July the Australian Taxation Office (ATO) will have new powers to bolster SMSF standards, and the change could mean the issuance of many more rectification orders with serious consequences for some trustees.