The long-awaited recommendations of the Quality of Advice Review include replacing the existing best interest duty with a “true fiduciary” alternative.

The independent chair of the QOA Review has called for the removal of 'onerous' ongoing fee disclosure obligations.

Financial advisers could be required to comply with a ‘good advice duty' if the Albanese Government accepts the fourth recommendation of the Quality of Advice Review.

Praemium CEO, Anthony Wamsteker, is confident banks and super funds won’t be able to get away with poor or conflicted financial advice despite Quality of Advice recommendations to scrap best interest duty.

In a move likely to be welcomed by advisers, Michelle Levy has stayed the course to do away with Statement of Advice requirements.

With more financial advisers exiting and rising costs creating greater inaccessibility, Michelle Levy recommends digital advice as a tool to improve access and efficiency.

There’s room for improvement with advice documents and advisers have made suggestions that could save time and effort while enhancing consumer comprehension.