Search results for: “Insurance Advice”
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Peer Reviewing Statements of Advice Crucial for Client Understanding
Ensuring that financial advice is effectively communicated to clients is crucial in the financial planning industry. Peer reviewing Statements of Advice (SoA) before presenting them to clients can help prevent misinterpretation and confusion. At a recent conference in Sydney, a panel highlighted the importance of conducting quality assurance checks on SoAs, preferably by a trusted…
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Financial Advice Firms Struggle with Rising Staff Salaries
Financial advice firms in Australia are facing a significant challenge as staff salaries are consuming nearly half of their revenues. This trend, highlighted in the latest By the Numbers report from Business Health and the Financial Advice Association Australia, reflects a competitive landscape for talent acquisition within the industry. Money Master the Game: 7 Simple…
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Financial Advice Firms Embrace Outsourcing for Operational Efficiency
Australian financial advice firms are increasingly turning to outsourcing as a strategic approach to enhance their operations. With a limited number of advisers in Australia and a growing demand for financial advice, firms are under pressure to manage workloads efficiently to prevent burnout and ensure quality service delivery. Money Master the Game: 7 Simple Steps…
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Financial Advisers Brace for Rapid Regulatory Evolution in 2025
Regulation and compliance in the financial advice sector are set to evolve rapidly in 2025, with ongoing changes impacting advisers, licensees, and clients. The Delivering Better Financial Outcomes (DBFO) Tranche 1 reforms, effective in 2025, are just the tip of the iceberg. Advisers must also navigate broader regulatory frameworks, including legislation on privacy and cybersecurity.…
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FCA Reveals Financial Advisers’ Average Hourly Fees and Revenue
The Financial Conduct Authority (FCA) recently unveiled insights into how financial advisers charge their clients. The FCA’s data bulletin shed light on the average hourly fees charged by advisers, ranging from £150 to £195. This data was derived from retail intermediation firms, including financial advisers, mortgage brokers, and insurance brokers, marking the first time such…
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Women in Wealth Awards 2025 Celebrate Financial Sector Excellence
The Women in Wealth Awards 2025, in partnership with the Emerge Foundation, acknowledges and celebrates women making significant contributions to the financial services industry. These awards honor women who embody leadership, innovation, and advocacy in various financial fields, reflecting the industry’s ongoing evolution and professionalism. Monthly Budget Planner – 14 Months Undated Financial Planner Organizer…
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2024 Women in Wealth Awards Celebrate Female Financial Excellence
The Women in Wealth Awards 2024, presented in partnership with The Emerge Foundation, have set out to honor women making significant strides in the financial services industry. These awards not only recognize women’s leadership and innovation but also support educational initiatives globally, particularly in East Timor through The Emerge Foundation. Financial Planning Essentials | $69.69…
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Paraplanning’s Rising Significance in Financial Services: Industry Insights
Paraplanning has evolved into a distinct profession, shedding its previous image as a mere steppingstone into financial planning. Carla Brown, managing director of Oakmere Wealth Management, emphasized this transformation during the Chartered Symposium hosted by St James’s Place (SJP). She highlighted the significant role paraplanners now play within the financial services sector, with many choosing…
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Fair Work Case Reveals Risks of Offshore Contractor Engagement
A Queensland legal firm faced a contentious Fair Work case recently, involving their independent contractor based in the Philippines, Joanna Pascua. Pascua claimed unfair dismissal, arguing she was an employee despite working abroad. The firm, with less than 15 employees, contended that unfair dismissal rules did not apply to them. However, the Fair Work Commission…
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UK Financial Advisers See Surge in Earnings Amid Industry Evolution
Research conducted in 2017 revealed a significant increase in the average total earnings for financial advisers in the UK, with employed advisers earning £93,100 and self-employed advisers earning £89,100 on average. The study, which included input from around 500 advisers and 150 paraplanners, analyzed various factors affecting pay such as qualifications, firm status, age, and…