Former NAB executive Wayne Handley has detected that a “surprising” number of advisers who are not across ASIC’s review of risk advice, pointing the finger squarely at licensees.
ASIC's review found "unacceptable failure" in the provision of risk advice, though a number of stakeholders including the AFA have questioned the methodology behind the report.
Several firms have been impacted by the corporate regulator’s action.
Super funds must now have a retirement income strategy in place.
Vanguard has called for a complete overhaul of the advice industry.
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