The Stockbrokers and Financial Advisers Association Conference is fast approaching (Sydney, 20-21 May), & EARLY BIRD REGISTRATIONS close on 1st May. I’ll be moderating the VIRTUAL Session “NAVIGATING THE PROFESSIONAL YEAR”. You can find the direct link to Conference Information at https://lnkd.in/g77CYU2 The questions I always get asked by Licensees about the PY are: * What’s involved in …
FASEA can be seen as a bit of ‘white noise’ to Paraplanners but in this episode, we talk bigger picture on the long term impact of the new regulations within the financial advice industry. The FASEA Standards will see a lot of movement both from exiting advisers and new entrants to the industry which will …
Over the past 18 months, as the implementation of the FASEA standards has gained pace, I have had numerous conversations with financial advisers, accountants and stockbrokers who are beside themselves with fear – fear of not passing an exam, fear of not having a career, and fear of professional uncertainty if they do not meet …
In the NOVEMBER Edition of our FASEA Standards Newsletter, we discuss: FASEA Exam: August Results & Analysis Over 50% of Advisers have sat the ExamOver 11,180 advisers have sat the exam with 9 in 10 demonstrating they have the skills to apply their knowledge … to the practical scenarios tested in the exam? Regulations: FASEA Code …
FASEA recently released exam results from the Exam held in August 2020. Result highlights include: * 82% of candidates passed the August exam, * 65% of advisers re-sitting the exam passed on their second attempt, * 1,521 advisers sat the exam compared with an average of 1600 across all exams * Over 11,180 advisers have …
IFA.com.au analysed my recent video regarding Standard 3 of the FASAEA Code of Ethics (see full video here.) The article summarises a key aspect of the video content, which is the fact that Advisers receiving other forms of remuneration outside of a fixed salary can ensure they are FASEA compliant by following a simple test. …
Bonuses & Referrals can be FASEA compliant (IFA Article – Joel Ronchi) Read More »
In the SEPTEMBER Edition of our FASEA Standards Newsletter, we discuss: Legal Issues: ASIC takes on well-known Boutique Advisory ASIC enforces its “why not litigate” mantra Do you want to see what it looks like when ASIC goes after a LICENSEE and its FINANCIAL ADVISERS who alledgedly breached Section 961 of the Corps Act? Regulations: Single Disciplinary …
In this video from myIntegrity’s recent FASEA Exam Prep Masterclass (Webinar) Program, I explain how Standard 3 of the FASEA Code of Ethics operates. Importantly, I explain how Standard 3 operates in conjunction with Standard 7 of the Code, as well as how Financial Advisers can still take in to account the requirements of Standard …
FASEA Code of Ethics – Standard 3 Explained (Video) Read More »
Financial Advisers may not be aware of the fact the Mortgage Brokers will have a similar BEST INTEREST DUTY, CONFLICT PRIORITY RULE, & CONFLICTED REMUNERATION framework imposed on them through legislation, effective the 1st January 2021. Similar to s961 of the Corps Act, the relevant legislation is s158 of the NCCP (Credit) Act in which …
Best Interest Obligations (BIO) – Mortgage Brokers & Financial Advisers in the same boat Read More »
ASIC has launched Federal Course proceedings against well-known financial advisory group Dixon Advisory & Superannuation Services Ltd. Dixon Advisory, arguably once a “sweet heart” of the advice world with full page ads in a leading national newspaper, is alleged to have constructed a network or related entities in breach of the Corporations Act for the …