Associations divided on impact of Jones’ QAR advice reforms; New look for advice documentation as SOAs scrapped

While the FSC largely supports the final tranche of Delivering Better Financial Outcomes reforms, the FAAA is “deeply concerned” about possible negative implications of the new “qualified adviser” term.

Three major changes have been announced in the latest Delivering Better Financial Outcomes reforms regarding how advisers provide and document advice to their clients.

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Minister for Financial Services Stephen Jones has unveiled the final tranche of his Delivering Better Financial Outcomes reforms with a focus on banks, simpler advice documentation and a new type of “qualified adviser”.

The Compensation Scheme of Last Resort’s transitional board has appointed its first chief executive alongside a non-executive director in the lead up to its scheduled commencement in April 2024.

Perpetual has rejected a $3 billion acquisition bid from Washington H. Soul Pattinson (WHSP) as it announces a strategic review of its company.

The Australian Financial Complaints Authority has welcomed a new member to its independent board as it announces the departure of a founding member.

In this episode of Relative Return, James Harwood, senior portfolio manager at Russell Investments, joins host Phil Tarrant to discuss the burgeoning ETF space and how the asset class can form part of an investment portfolio.