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19 July 2025
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There are a lot of vague statements about the costs of financial advice in Australia. This insider's knowledge shows the actual costs are skyrocketing but demand for financial advice remains strong.
Opening the market for advice makes sense but the QAR is weak on consumer safeguards. Financial advice legislation should be tailored to the risk of harm for consumers, identifying complicated, risky strategies.
Financial advisers must convince regulators and clients that advice to ‘do nothing’ or maintain a current position is indeed valuable advice, and often more valuable than activity buying or selling shares.
Seeking financial advice can be a daunting task and over 80% of Australians do not have a financial adviser. Here are the steps involved in understanding the advice process to encourage more people to jump in.
‘Suitability’ of financial advice is something unlikely to be addressed by the Royal Commission, but its adoption and regulation is crucial to the improvement of the wealth management industry.
The Royal Commission will change financial advice, focussing more directly on conflicts of interest and client best interests. What can you flush out of your adviser immediately?
A note from ASIC to Cuffelinks readers regarding the Financial Advisers Register – a comprehensive database of financial advisers’ scope, experience, training and qualifications to assist investors in choosing an adviser.
The term robo-advice has quickly evolved to cover a broad range of automated advice and investment solutions. But the underlying principle is the use of a formula or set of rules to assist with managing wealth.
Most investors seek re-assurance, certainty, confidence, comfort and rational explanations from finance professionals, but what they often get is jargon-laden confusion. We have much to learn about effective communication.
The recent push for greater transparency on asset management fees has reignited the debate about what is fair and reasonable. Both managers and investors need to reset their expectations to find the common ground.
When two Nobel Laureates sit down to discuss the topic 'Why does the public hate us?', you know there's a major problem. And the Murray Interim Report raises many concerns about wealth management in Australia.
Financial literacy levels in Australia and around the world are worryingly low, which impacts the way financial advice is received and understood. Is the message getting through, or should advisers give clients this simple test?
Treasurer Jim Chalmers aims to tackle tax reform but faces challenges. Previous reviews struggled due to political sensitivities, highlighting the need for comprehensive and politically feasible change.
You've no doubt heard about Division 296. These case studies show what people at various levels above the $3 million threshold might need to pay the ATO, with examples ranging from under $500 to more than $35,000.
The $3m super tax could be put down to the Government needing money and the wealthy being easy targets. It’s deeper than that though and this looks at the factors behind the policy and why more taxes on the wealthy are coming.
Business investment and per capita GDP have languished over the past decade and the Labor Government is conducting inquiries to find out why. Franking credits should be part of the debate about our stalling economy.
With Div. 296 looming, is there a smarter way to tax superannuation? This proposes a fairer, income-linked alternative that respects compounding, ensures predictability, and avoids taxing unrealised capital gains.
In selling the super tax, Labor has repeated Treasury claims of there being $50 billion in super tax concessions annually, mostly flowing to high-income earners. This figure is vastly overstated.