Financial advice is only as good as the governance behind it. That is why Insight Investment Partners has released two companion documents—our Monitoring and Supervision Policy and the Compliance File Review Policy & Procedure

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Understanding the Financial Advice Process in Australia: A Step-by-Step Guide

We are excited to announce an upcoming update to Sara’s Risk Profile checks when reviewing your clients’ recommended investment portfolios.

Artificial Intelligence (AI) is transforming industries worldwide, and financial services are no exception. At Insight Investment Partners (IIP), we recognize the potential of AI to enhance efficiency, improve client engagement, and drive business growth. However, with great power comes great responsibility

SARA now checks that your Statement of Advice (SOA) includes a Fee Consent Form when charging ongoing advice fees or establishing a fixed-term agreement from a superannuation account. This enhancement ensures compliance and helps streamline your advice processes.

In this episode, SARA discusses your obligations when relying on Website Disclosure Information

As part of the Delivering Better Financial Outcomes (DBFO Package, the Albanese government has made amendments to the obligations relating to ongoing fee arrangements and consents.

Changes to Conflicted Remuneration means that if a retail client’s payment (or other benefit) to you is a payment (or other benefit) given in relation to a financial product or a financial service, it is now definitely not conflicted remuneration.

Advisers no longer need to provide a Financial Services Guide (FSG) to every single client. Instead, they can now make this information available as Website Disclosure Information on their website. This change offers a great opportunity to simplify the administrative side of financial advice and modernise how we engage with clients.

Financial advisers often face questions about how to navigate ethical obligations while remaining compliant with regulations. A key issue frequently raised is the relationship between referral fees and conflicts of interest.

Recently, we were asked by an advisor about meeting their obligations under the Australian Privacy Principles (APPs).

The DBFO Act, which received royal assent on 9 July 2024, represents Government’s response to QAR final report recommendations 7, 8, 10, 13.1–13.5 and 13.7–13.9. It is the first tranche (‘Tranche 1’) of Government legislation as part of the DBFO package. 

ASIC has issued the levy notices for the Compensation Scheme of Last Resort (CSLR).

At the recent the Professional Planner Licensee Summit, ASIC Commissioner Alan Kirkland outlined that the regulator has been warning all licensees for the past two years that they must lift their game in respect to breach reporting

This article will address some of the issues to consider and how to go about approaching the SOA vs ROA conundrum.

There have been 16 outcomes issued by the Financial Services and Credit Panel (FSCP) since its launch in 2023. Here are some statistics on which issues are frequently occurring:

Under recent legislative changes, as an Australian financial services (AFS) licensee, who provide financial services to retail clients, we are required to report to ASIC any consumer and small business complaints under the internal dispute resolution (IDR) procedures.

So, what does that mean?

If you have recently submitted an SOA through for compliance vetting, you will notice that we are now providing a formal Compliance File Review Report, which summarises the findings and observations made on the file.

In this blog post, we will clarify the advisers role in assisting clients with developing investment strategies for the SMSF. There is sometimes confusion as to whose role it is to develop the investment strategy – is that the accountants job, or can you do that as the adviser?