The ongoing pressures on the financial advice industry don’t seem like letting up anytime soon, with a need to continue to focus on providing quality advice for clients while also finding ways to ensure advice businesses remain profitable under increasing cost pressures.
“Getting culture and conduct right is not a supervisory requirement. It is necessary for banks’ and banking’s economic and social sustainability”* With the release of the Hayne Royal Commission’s Final…
The Commission’s work has four clear observations: the connection between conduct and reward; the asymmetry of power and information between financial services entities and their customers; the effect of conflicts between duty and interest; and holding entities to account.
One of the best recommendations in the Productivity Commission (PC) draft report on the superannuation industry was the backing the PC gave to making permanent the current temporary (until 1 July 2020) tax rollover relief for fund mergers and transfer events.