Only bank branches will be permitted to operate under the new lockdown, as well as “critical banking services” to support the provision of services, and credit and payment facilities. Financial asset investing, insurance and superannuation funds, and auxiliary finance and insurance services will be forced to close their offices.
The restrictions apply primarily in metropolitan Melbourne.
The new six-week lockdown will impact a range of Victorian businesses, including retail stores, manufacturing and administration. Supermarkets, grocery stores, pharmacies, petrol stations and post offices are some of the businesses that will be permitted to remain open.
The closures confirm the worst fears of many economists, with a second lockdown likely to cause significantly more damage to Australia’s economy and result in an extension of stimulus measures.
A sole practitioner can still work from their office
Read the fine print
Besides another brain dead edict by a political leader who has no management skills
[quote=Oscar the Grouch ][b]*The Age*[/b][b][/b]
Banking and finance
Businesses providing these services will not be allowed to have staff on-site:
Non-Depository Financing
Financial Asset Investing
Insurance and Superannuation Funds
Auxiliary Finance and Insurance Services
These services will be allowed to have staff on-site:
Bank branches
Critical banking services to support the provision of services, credit and payment facilities, including the functioning of all operational, treasury, distribution, reporting, communications, monitoring, maintenance, corporate, support and other functions.[/quote]
That’s not how I read the guidelines, at all. Click on the link to ‘other functions’, you see a long list which basically covers off on all financial services. At the top of the page it says “The following banking services may continue to operate. To the greatest extent possible, staff providing these functions must be supported to work from home, unless the function cannot be performed without an onsite presence. Any onsite functions must operate under the minimum universal obligations including have a COVID Safe Plan in place.”
To me this says, even in the case of a Financial Advice practice, that you can indeed keep your office open where there are tasks which cannot be completed from home. Perhaps one person on site for mail handling, and handling documents which require original signatures etc.
I also read this as meaning that financial planning staff are ‘permitted workers’, as we fall under a Permitted Industry. This means childcare access.
Agree with that it’s not really news worthy. All client interactions can be done by phone or zoom and you can obtain digital signatures if required. Not sure why all the fuss as you can operate from home. Clients would prefer not have to visit your office during this time.
Nobody appears to be reading the addendum to the stage 4 restrictions for financial and insurance services. This clearly states that a listed range of financial services can continue to operate, including on-site,
subject to a COVID Safe Plan..
Little wonder their is no respect for these organisations
typical IFA daily none sense. Its not even newsworthy.
IFA have given the financial services sector a bad name over the years publishing rubbish.
I notice the headline has changed..
Terrible headline. The Media should have a Royal Commission into their behaviour. Surely everyone goes back to working remotely as before. IFA should be ashamed of headline like this.
All Media in Australia are useless – if they are not cutting and pasting from the US, they report this type of rubbish – FAKE NEWS
Good luck getting your opt ins signed, if you rely on having them renewed at review time, during face to face meetings. In the meantime, all those Victorian intrafund advisers at home get paid ongoing bonuses, without any opt ins whatsoever.
Anonymous
When are you going to grow some balls or develop some tits and stop hiding behind anonymous. You have much to say on many topics!!! Let’s see who u actually are!
Docusign baby!
Not an issue. I suggest you utilise My Prosperity. Just completed all my fds and opt-in for the year in record time as it makes it so easy and clients adapt to e-signatures.
I wonder how the call centre shut down will impact MLC, they are under the pump as it is. I’m sure a large swathe of them have been working from home for a while anyway. And the headline is sneaky, they have to close their physical doors, but of course if you can work remotely you’re fine. My partner works for a dealer group and said most of their planners hadn’t returned in full to their office anyway. Best of luck Victoria I hope you can all pull through this.
Forced to close their door to public contact, or forced to close operations? Two very different things that the IFA could have easily distinguished but chose not to, for the lure of a cheap headline.
I didn’t think Victorians worked anyway. Don’t they just sit around drinking Latte’s all day… : )
Hilarious
[b]*The Age*[/b][b][/b]
Banking and finance
Businesses providing these services will not be allowed to have staff on-site:
Non-Depository Financing
Financial Asset Investing
Insurance and Superannuation Funds
Auxiliary Finance and Insurance Services
These services will be allowed to have staff on-site:
Bank branches
Critical banking services to support the provision of services, credit and payment facilities, including the functioning of all operational, treasury, distribution, reporting, communications, monitoring, maintenance, corporate, support and other functions.
Surely they will work from home??
Most practices have been working from home since March and there is no reason why this should change. Is your headline for real or just a cheap bit of clickbait?
Business with on-site operations will have to cease, suggesting wfh is still ok
Forced to close, or able to WFH?
Surely they could be allowed to work from home, crazy if they couldn’t