A switch to wholesale clients could backfireBY BRAD FOX | THURSDAY, 6 AUG 2020 12:11PM You have to wonder when the 'wholesale investor' and 'sophisticated investor" definitions will be reconsidered by ASIC - but here's an interesting thought - most people expect ... Upgrade your subscription to access this article
Join the growing community of financial advisers
with unlimited access to our latest news, research and analysis of the industry.
Become a premium subscriber today. |
Latest News
Advised clients more satisfied despite heightened costs: Report
A new report highlighting the value of financial advisers indicates clients are even more satisfied despite a higher cost of seeking advice.
First Guardian victims advance in case against InterPrac
The Federal Court has forced InterPrac Financial Planning to pay two victims of the First Guardian Master Fund that collectively lost a total $465,000.
Frontier Advisers brings Segal Macro, LCP partnership to close
Frontier Advisers, Segal Marco Advisers and Lane Clark and Peacock (LCP) have decided to bring their Global Investment Research Alliance (GIRA) to a close, after 13 years of partnership.
Mulino brings New Class of Advisers to life, guarantees fairer CSLR funding
Assistant treasurer Daniel Mulino will forge ahead with the New Class of Advisers (NCAs) as part of highly anticipated Delivering Better Financial Outcomes (DBFO) reforms and laid out a blueprint of how the Compensation Scheme of Last Resort (CSLR) will be fairer for financial advisers.
Further Reading
Cover Story
Advice with soul
SACHA BURCHGART
FOUNDER & MANAGING DIRECTOR
BURCHEART PTY LTD
FOUNDER & MANAGING DIRECTOR
BURCHEART PTY LTD
Though she initially tried, Sacha Burchgart couldn't escape the call of a career in financial advice; it just took staring down her own mortality to see what's possible when you do things differently. Jamie Williamson writes.
Expert Feed
The bond market's inflation blind spot
While markets have reacted to the latest escalation in the Middle East, longer-term inflation pricing continues to imply that these disruptions will be ...
Confidence to spend: why retirement planning is about more than investment performance
Many retirees face a critical challenge in retirement, and that is how to spend confidently not knowing how long their savings will last.
A never ending story of levies
The extensive processing period for Shield and First Guardian complaints means financial advisers will likely not be able to see an end to a series of ...
When 'diversification' stops being diversified
While many are worried about the dominance of US mega-cap companies, the same trend is also transpiring domestically, creating a concentration issue for ...
IntraFund "advice" marketing reps are the 1980s version of the old tied agent model, who are being paid without bi-ennial opts in & without receiving informed consent for charging those fees. Might be worthwhile doing a google search on what "consent" means & why courts send people to jail for not obtaining it.
Brad, we all saw this outcome... i.e., cost of advice soaring, good advisers leaving and consumers bearing the consequences. Problem is, our representative "associations" meekly submitted to the politicians who were stubbornly seeking misplaced vindication by lambasting the humble adviser.
There is something needed to fill the gap that i believe today extends up to those earning around $100k. Most of my clients are under $70k i can no longer really afford to work for them and they can not afford me. They dont usually have big problems to solve. Being tied to one fund manager and one or two life offices would look after most of them.