Connect and engage

Totally agree with this as long as the 'minimum level of education' is a relevant approved degree, they pass a relevant exam and undertake a professional year. Alternatively, I feel all advice should come with a warning that not only is their advice conflicted as the work directly for the product provider, but they are unqualified to provide personal advice, and that by following the advice provided the client may risk financial loss or may purchase a product that is not appropriate given their individual circumstances. Just a thought

I bet Aware is really keen.
All industry funds are enthusiastically embracing the lowering of standards so they can eliminate independent advisors and no longer fear members will move.
Hypocrisy. 

Superannuation advice Australia is only just attempting to fix up its ‘layered advice’ strategy. What a joke. 

From discussing the proposed CSLR with numerous colleagues and associates, I can assure you it's much more than a 'mounting concern'. This is an election deal breaker and forces are combining as I write this to have MP Jones either can and bin both the CSLR and the ASIC Levy, or he and his Labor Party will be out of a job come next election. We have all had enough of being treated like fools and taken as a legislative play tool, that have been belted and had our businesses turned on their head for the last 20 years. Enough is enough. If Labor and Jones are too ignorant or arrogant to take notice of the rage and frustrated feelings out in Adviser Land, they will find out the harsh truth just like Scomo did. We are the only Industry group that has been attacked by all of the political parties over the last 20 years - Mortgage Brokers, Accountants, Real Estate Agents, Lawyers, Conveyancers and all other Professionals that operate alongside us have remain unscathed and protected whilst the Government have not backed off 1 Iota in that same timeline. Enough.

What a great Conference it's been.  So many great sessions. I especially like that special session where Planners reminisced about the glory days of advice when it was 110% upfront commission on insurance,  and volume bonuses.  I'm looking forward to the afternoon even where we can all complain about having to a do study above DFP 1-4....just for the fun of it...And tomorrow I'm looking forward to the session titled "Bring Back 1989" and the evening's sessions where we moan about the Liberal Party and removing 110% commissions.  What a conference it's been. Great to catch up with mates.

What have they done to help? Will end up preferencing ALP anyway?

ASIC chases Onepath for $3.8m in fees yet doesn't do anything about $350 million lost with Dixon Advisory during the same period. Tell me, what should have been their priority? 

Old technology used by those hanging on to the last of the school of the para planning and advice world.

Why not replicate the positive aspects of their aus competitors, make xtools+ (the only unique aspect of xplan in aus and by far the best financial modelling engine) the front end of advice delivery with each modelled change, linked to an automated recommendation (strategic and product). Then once modelling done SoA is complete, just merged  tailored to the client details in crm (like plutosoft).

Iress the Qantas of Financial services software - focused on profit ignored its clients, delivered poor service and products and now expects that they can rebuild that trust.

Tell em they are dreaming

And we wonder why CALI want the LIF rates to remain the same even though it has resulted in new business falling off a cliff, risk advisers leaving in droves, premiums being increased at record levels, record lapses and higher under insurance and worsening products for claiming.
What could they want to achieve?
Would it be the ability to go back to direct advice and direct junk insurance?
Surely not?

the industry 10 years ago is different to what it is today, but yet Xplan is the same.  Still the same crappy inefficient software, why would anyone use it

Much better at looking after their Financial Advisers than the FAAA, the FAAA have been utterly useless all talk no change. I'm moving, sick of being blackmailed by CFP retention, clients don't care. 

Smart and membership will grow with strategic referral partners quicker than the FAAA is diminishing.

loved that comment Steve !

....and the former 'advisers', management & directors of Dixon's pay how much?  The glory days of bank management walking away from their 'fees for no service' mess are well & truly over.  Time to hold those responsible financially accountable.

Totally agree.  ASIC should be held culpable for the Dixon circus.  We need a RC into this debacle but will never get one.  

Mortgage Brokers actually do have a legal duty of care to act in the best interests of the client and also fully disclose commissions receivable......same as Financial Advisers.

No - Mortgage Brokers do not need clients to sign a commission consent form but are certainly required to fully disclose what they get paid same as a Financial Adviser. 

If the banks get back into advice again then we are no better than the US! Money and greed will overshadow common sense and client due diligence!