Michelle Levy, whose review into financial advice led to many of the proposed new laws, said the changes would go “a long way” to making advice cheaper and more accessible.
While the FSC largely supports the final tranche of Delivering Better Financial Outcomes reforms, the FAAA is “deeply concerned” about possible negative implications of the new ‘qualified adviser’ term.
In its final response to the Quality of Advice Review (QAR), the government plans to modernise the best interests duty and the Statement of Advice (SoA), while also granting approval for superannuation funds to provide personal advice.
In his final shareholder speech, Renato Mota, reflects on his tenure as Insignia CEO and the long-term competitive advantage of the business despite its sharp share price falls.