Roxburgh Securities News Today

Hundreds of AFSLs with retail authorisation must now report internal dispute resolution to ASIC by 29 February as the final tranche of the regime’s implementation kicks in, even if they have faced no action.

Critics have queried Hostplus being crowned Australia’s best balanced superannuation fund over one- and ten-years, saying the rankings rely on unpublished valuations of unlisted assets.

The financial services minister has said that recently introduced reforms to ongoing fee arrangements (OFAs), which will cost the industry $28 million, were necessary to stop clients from being “charged invisibly”.

The financial services minister has said that recently introduced reforms to ongoing fee arrangements (OFAs), which will cost the industry $28 million, were necessary to stop clients from being “charged invisibly”.

Financial advice sliced from the menu Advisers are actively ‘cutting out’ all but the wealthiest clients as the sector faces a personnel crisis. Business by James Kirby Premium Content Financial advice for all but the richest Australians is in serious jeopardy. The advice sector is shrinking, the majority of students in existing courses are not becoming planners and now evidence is accumulating that the best advisers are cutting off anyone who is n...

Wall Street licence exemption a double-edged sword Removing barriers to entry for global wealth managers could put downward pressure on investor fees, but undo hard-earned lifts in the quality of financial advice. Share A few years before the Hayne royal commission, a hot-shot wealth manager in a high-rise Manhattan boardroom was asked what it would take for him to bring his firm Down Under. “Those big banks of yours would need to make some space,” the Ivy-leaguer replied, demonstrating a s...

Perth financial planner and Liberal Party member Steve Blizard says allowing firms to operate in Australia without a licence creates an “uneven playing field”.