FASEA requirements for aged careBY ASSYAT DAVID | VOLUME 15, ISSUE 2 The Financial Adviser Standards and Ethics Authority (FASEA) standards that came into effect from 1 January 2020 are compulsory for all financial advisers who provide financial ... Get articles like this delivered to your email - Sign up for the free weekly newsletter  More Articles |
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Further Reading
Cover Story
Moving mountains
MAGDELINE JACOVIDES
FOUNDER AND FINANCIAL ADVISER
MAZI WEALTH
FOUNDER AND FINANCIAL ADVISER
MAZI WEALTH
On top of running a successful practice, Mazi Wealth founder Deline Jacovides is a fierce advocate for closing the superannuation gender gap and has built a highly popular social media presence that takes financial literacy to the next level. She tells Karren Vergara where her passion comes from and how she integrates it all with family life.
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I afraid FASEA will be hitting the wall of pain shortly when Advisers provide every client with a scaled advice statement at the start of the first interview. Notwithstanding the left wing socialist lawyers in FASEA who want their code to over-ride the Corporations Act and replace ASIC as the regulator, the legal position will be clear for the client.
"If you wish me to provide advice these are the boundaries. If you want me to consider Aged Care then the price will be $xxxx more. What is your decision?" If you do not want me to and sign off on that I will not.
Next FASEA will be asking us to advise on the social distancing policies of clients. I think that the ASIC folk are going to be very shortly out of a job with the advice industry.