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
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
Federal Court lifts Merhi's travel ban
Former financial adviser Ferras Merhi is now free to travel as the Federal Court lifted travel restraint orders imposed one year ago.
Nominations open for the 2026 Power50
Nominations for the 2026 Financial Standard Power50 are now open as we recognise the country's most influential advisers who continue to raise the standards for the profession and provide outstanding service to clients and the wider community.
Advice veteran's exit creates $1bn Tassie wealth group
Mancell Financial Group (MFG) founder Peter Mancell has retired as a financial adviser after 46 years, selling the business he built to pave the way for a $1 billion wealth management firm in Tasmania.
Netwealth expands Morgan Stanley mandate
Amid expanding its stockbroking and private wealth capabilities, Netwealth has been picked by Morgan Stanley to provide a platform solution to its Australian wealth business.
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
Secondaries: Handling a double-edged sword
Secondary transaction volume in private markets continue to hit new highs, as does fundraising for secondaries vehicles. Yet the market presents vulnerabilities ...
Is software dead?
ECP Asset Management's Damon Callaghan explains the fate of software companies suffering from the 'SaaSpocalypse' that was triggered by the rise of AI.
A governance dashboard is not a governance framework
Research houses are now offering monitoring tools to the licensees who use their ratings. The tools are useful. They do not discharge the governance obligation ...
The global advice gap: why expat clients are harder to serve than they appear
Many Australians are building wealth abroad before ultimately returning home for retirement.
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.