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Sean Graham
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53 followers
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"Independent advice" has been a popular topic this week and has sparked heated debate - but what is "independent advice" and what does "independence" really require? I'd be interested in your perspective. 

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If the purpose of disclosure is to ensure that clients make informed and considered decisions about the recommendations presented to them then disclosure is an inelegant and inadequate solution. In their recent survey of retirement planning advice (REP279), ASIC identified that 86% of participants felt that they had received ‘good’ advice despite ASIC only assessing 3% of advice as good. This highlights one of the key problems with reliance on disclosure as a consumer protection measure; it’s success depends not only on the quality, adequacy, specificity and timing of the disclosure made by the adviser but also on the capability of the client to understand the consequences and implications of the matters disclosed. This article explores the limitations of disclosure and the practical alternative embraced by advice professionals.

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The "bionic man" of licensee management systems - stronger, faster and better looking. We have the technology - and you have the benefit. For comparability and completeness check out openafsl.com
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The "bionic man" of licensee management systems - stronger, faster and better looking. We have the technology - and you have the benefit. For comparability and completeness check out openafsl.com
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On 14 July 2014, the Labor Party introduced the Government’s amending Regulations in the Senate, confident of their ability to disallow the regulations and therefore derail the Government’s proposed changes to Labor’s regulatory framework. They were mistaken. The Corporations Amendment (Streamlining Future of Financial Advice) Regulation 2014, effective from 1 July 2014, addressed the majority of the Government’s intended reforms and promised certainty in regards to grandfathering, opt-in and best interests. The practical impact of these changes may be somewhat different.

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The Senate’s Economics References Committee report was highly critical of both ASIC and the Commonwealth Bank of Australia; criticisms relentlessly pursued and compellingly presented by Adele Ferguson in her articles for Fairfax and in her Four Corners’ story. This article is a high level review of the more interesting aspects.

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It's difficult for most people to appreciate the particular and ongoing challenges faced by Compliance Managers in financial services. The role itself, and the contribution it makes to the business by whom they are employed, is often a subject of heated debate. I've been lucky enough to work under leaders whose support and engagement with Compliance was a natural and inevitable outgrowth of their ethical values and deep commitment to the wellbeing of their staff, clients and brand. I've also worked under, and with, a great many people with alternative approaches. This post contextualises the role of the Compliance Managers and (with reference to Tony Vidler and Robert Cialdini) outlines some strategies that Compliance Managers can use to help achieve their potential.
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