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Advice exam has a role, but more flexibility needed: FAAA

There is room for more flexibility in the financial advice exam, according to FAAA chief executive Sarah Abood, and the organisation is advocating for this to be improved to prevent delays for new entrants.

Australia , Australian , Phil-anderson , Neil-macdonald , Sarah-abood , Advisers-association , Financial-advice-association-australia , Money-management , Professional-year , Compensation-scheme , Last-resort , Dixon-advisory

AMP to pay $100m to settle BOLR class action

AMP will pay $100 million to settle the long-running Buyer of Last Resort (BOLR) class action - an amount double what it initially provisioned.

Australia , Australians , Alexis-george , Neil-macdonald , Matt-lawler , Royal-commission , Advisers-association , Last-resort , Federal-court , Financial-standard ,

Will AMP's $100m settlement end advisers' BOLR fight?

The decision by AMP to pay $100 million in settlement to members of the Buyer of Last Resort class action has been welcomed as providing closure, but one adviser told Money Management he expects members will fight on individually.

Melbourne , Victoria , Australia , Alexis-george , Justice-mark-moshinsky , David-haseldine , Justice-moshinsky , Neil-macdonald , Financial-planning-pty-limited , Advisers-association , Last-resort , Federal-court

Advice association calls for scrapping of adviser exam

An advice association has called for the financial adviser exam to be scrapped, arguing it has served its purpose and is an unnecessary expense.

Australia , Australian , Neil-macdonald , Phil-anderson , Association-of-financial-advisers , Advisers-association , Financial-advisers ,

Advice advocacy and the 'alphabet soup' of associations

Financial Services Council chief executive, Blake Briggs, has shed a light on the need for industry body consolidation and how meaningful engagement between groups has brought the advice debate to where it is today.

Ukraine , Australia , Canberra , Australian-capital-territory , Blake-briggs , Matt-heine , Stephen-jones , Financial-advice-association-australia , Association-working-group , Financial-services , Association-of-financial-advisers , Advisers-association

Ex-AMP planner calls for firm to 'do the right thing' in mediation

Justice Mark Moshinksy has ruled a timeline for mediation between AMP Financial Planning and Equity Financial Planners to begin, and a former planner has called for the firm to “do the right thing” by paying advisers and rebuilding its reputation.

Neil-macdonald , David-haseldine , Justice-mark-moshinsky , Justice-moshinsky , A-federal-court , Advisers-association , Equity-financial-planners , Federal-court , Corrs-chambers-westgarth-led ,

AMP challenges BOLR court ruling

AMP is appealing the Federal Court's Buyer of Last Resort (BOLR) ruling that determined in favour of AMP Financial Planning advisers who saw the valuations of businesses slashed by 40%.

Justice-mark-moshinsky , Neil-macdonald , Justice-moshinsky , Matt-lawler , Ferrari , Court-buyer-of-last-resort , Advisers-association , Federal-court , Last-resort , Equity-financial-planners , His-honour , Francesco-de-ferrari