MM Newsletter
  19 August, 2021
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Money Management Original
Retail clients 'risky' to service
Servicing retail clients has become more and more risky for several advice groups due to the complex compliance requirements.
Money Management Original
Less than one-in-three chance of defending 'know your client' complaint
Failing to ensure clients understand risk profile questionnaires can mean advisers fail the ‘know your client’ obligation and leave them open to a complaint with only a 32% chance of defence, according to a report.
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Money Management Original
Less than 10% FASEA exams see successful re-mark
There have been 333 unsuccessful candidates who requested a re-mark for the Financial Adviser Standards and Ethics Authority exam but only 28 have seen a change in result.
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Industry News
Insurance premiums to increase at slower rate
New business premiums for individual disability income insurance will drop 15% due to the prudential regulator’s product intervention measures, according to DEXX&R projections.
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Money Management Original
FASEA clarifies pathway for advisers who do not pass exam
The Financial Adviser Standards and Ethics Authority has clarified what advisers should do if they did not pass the exam before 2022 or if they ceased to be a relevant provider and wished to return to the industry.
Industry News
Netwealth sees 70% managed accounts FUM increase
The average wrap account held over $1 million with the firm feeling well-positioned to take advantage of the changing advice landscape.
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Industry News
Life insurance code released for consultation: FSC
The Financial Services Council has released the second draft of the life insurance code of practice for public consultation.
Industry News
Auditors fined for Halifax audit standards breach
EC Audit was fined $40,000 while Robert Evett was fined $10,000 for auditing standards breaches of Halifax Investment Services.
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Money Management Original
ESG credentials and strong returns
Investing with an ESG focus in mind, writes David Smith, is no longer a ‘nice to have’ for investors and can lead to better performance over the long-term.
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