'Good Advice' is just sales by another nameBY VINCE SCULLY | WEDNESDAY, 14 JUN 2023 3:53PM Words matter. They matter both to the listener and to the speaker. And they matter even more when it comes to money. I would argue that the way regulators and the law currently ... 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
Count shutters limited-advice business, slips in size ranking
Count Financial has reportedly wound up its restricted SMSF/limited-advice service, losing some 26 advisers on the Financial Adviser Register, latest data shows.
Centrepoint Alliance acquires two advice firms
Centrepoint Alliance will acquire Queensland financial advice practices Cairns Wealth and Pinnacle Wealth for $3 million from Astute Financial Management.
Small pocket of failed measures can 'blow the entire business': Anderson
FAAA general manager of policy, advocacy and standards Phil Anderson warned licensees to improve their control measures for authorised representatives to avoid any unintended consequences.
AFCA puts InterPrac determinations on ice
The Australian Financial Complaints Authority (AFCA) is pausing all InterPrac Financial Planning-related determinations as court proceedings instigated by the latter are underway.
Further Reading
Cover Story
Advice with soul
SACHA BURCHGART
FOUNDER AND FINANCIAL PLANNING SPECIALIST
BURCHEART
FOUNDER AND FINANCIAL PLANNING SPECIALIST
BURCHEART
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
Fixing the CSLR: the UK FSCS offers lessons - but not a blueprint
UK's equivalent scheme of the CSLR highlights the lack of stability and predictability it currently has, expert says.
Helping clients stay the course in volatile markets
Fidelity International's recent research shows many investors are maintaining a "long-term" perspective despite recent market turmoil.
Let's be honest: is it a tech stack... or just a stack of tech?
Financial advisers need to be aware that sophisticated technology does not always serve as a practical, effective tool.
At the crossroad of governance: the two choices for Australian fund managers
Internalising trustees, although lawful, weakens independent oversight and can expose a fund manager to greater risks than those outsourcing the capability ...
Brilliant and simplified way of explaining this problem. Super funds will always sell the best toaster and the client will be none the wiser, it's no doubt sales and a risk to go back to the worst excesses of the past. Super funds will spend millions of their member's money marketing to them and pushing their "Toaster", and the consumer will be worse off. Good one, Levy.
Finally, a bit of clear thinking from someone who is not trying to apply legal terminology to financial products. QAR will not resolve any issues either for consumers or advisers.
This is what I have been trying to say all along, but perhaps not as simply: FINANCIAL PRODUCT SALES versus ADVICE is indeed two very different beasts. One is conflicted and the other should be independent. Thank you, Mr Vince Scully for putting it so simply.