Being able to access affordable assistance to help you navigate your financial life should be a right that all Australians enjoy – and you shouldn’t have to break the bank to get it.
While the financial services industry lauded the proposals laid out by a government inquiry into the sector,advocacy bodies said they would undo a decade of reforms designed to protect consumers.
Ben Jayaweera was convicted in October 2019 of diverting clients’ investments into a failed abalone farm project without their knowledge.
Leading superannuation funds think that using robo-advice could be part of the answer to a long-running problem in providing much-needed,affordable financial guidance to their members.
The corporate watchdog is taking legal action against Macquarie Bank for failing to properly monitor and control transactions by financial advisers in their clients’ accounts.
The $66 billion superannuation fund HESTA is one of several industry players trying to address the barriers to getting financial advice by using digital tools.
While robo guidance can be a good way to invest at low cost and their use is expected to grow,it is unlikely to replace face-to-face financial advice.
Individuals who are in low socio-economic wealth bands – those that can least afford it – gain more from getting financial advice than those who are wealthy.
Thousands of New South Wales and Victorian residents and small business owners have sought assistance from national financial helplines as they struggle to make ends meet.
New reference checking rules for financial planners and mortgage brokers will make it harder for industry “bad apples” to move between employers
Adviser numbers could slump to just 13,000 by the end of 2023,down more than 50 per cent since 2018,as tougher educational standards bite.