The wealth divide: Why Australia must re-think its 'sophisticated investor' lawsBY JESSE HAMILTON | FRIDAY, 10 MAY 2024 1:24PM In a country that values fairness, it's time we asked why our government's investment laws are still stacked against everyday Australians. It has been reported that the government ... Upgrade your subscription to access this article
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Helping hand
FINN DORNEY
PRINCIPAL PRIVATE WEALTH ADVISER
SHADFORTH FINANCIAL GROUP LIMITED
PRINCIPAL PRIVATE WEALTH ADVISER
SHADFORTH FINANCIAL GROUP LIMITED
Whether it's giving back to the local community or empowering children with financial literacy, Shadforth Financial Group private wealth adviser Finn Dorney proves why the innate nature of financial advisers is essentially to help others. Karren Vergara writes.
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Waiting for Tranche 2 of the QAR
Over two years since the commencement of the Quality of Advice Review (QAR) - what has been delivered has fallen short of hopes in some quarters.
The current testing is clearly biased towards the wealthy...or those who haven't divorced. It completely ignores people who might previously have qualified based on investible assets, who have gone through a financial settlement. Anyone who's gone through a divorce can tell you it's a wonderful way to destroy wealth!
It must be asked, how is it that people with financial services qualifications are excluded from the current definition used?
The test to which this refers is not the only test. A licensee is also entitled to assess a client's sophistication. See Corporations Act s708(10) and s761GA. it would appear that the advisers/licensees do not want to perform the assessment and take on the obligation.