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Submission process for ACCC regulatory framework with Digital Platforms is now complete. There are a number of really useful submissions and even one from me.
www.accc.gov.au
The ACCC will consider whether there is a need for a new regulatory framework to address the competition and consumer concerns identified in digital platform services markets to date. This report is t...The Government keeps reviewing rather than acting to improve the financial planning industry. KPMG found that the cost of preparing financial advice well exceeds what advisers are comfortable charging and what clients are willing to or could pay. Multiple government agencies, way over regulation, complex 2 level licensing, broken professional indemnity systems and adviser penalties for technical breaches rather than client harm, just add cost upon cost to client advice. The FPA and the Financial Services Council know what needs done and have lobbied the government, which continues to fail to act. It's election silly season so it would be surprising to see any action before a new parliament is seated. When it is..... Write to your member, the problem is well defined as are many of the solutions, and they are not hard.
Financial advice a loss-making business: KPMG
www.afr.com
Research by the professional services giant found the average cost of providing comprehensive financial planning advice is $5335 a client, against the average charge to consumers of $3660.
The 2022 Australian Budget was released yesterday. While it's nice to get some handouts, I feel bitterly disappointed. The budget seems like a continuation of the last 2, (really 12 years). Short term responses to long term significant challenges from a government that has lost its way.
Where is the vision? Where is the long term plan?
We need real wage growth, full employment (not the 1.5M Aussies who are underemployed), investments to combat climate change, the promised anti-corruption commission, long term structural changes to aged care. The list goes on.
These issues are NOT new, just increasingly visible as Australians struggle with floods, fires and rising cost of living.
The budget is not only a pretty poor response, it's an insult to our intelligence. This is the best they can offer with an election around the corner.... Wow?
www.theguardian.com
If we move from Josh Frydenberg’s rhetoric to content, we discover this isn’t a serious plan for the future. This is a plan for the next few monthsDoes your superfund fall in this list?
Thirty-eight super funds face sustainability issues: APRA
www.financialstandard.com.au
APRA has named the superannuation funds it believes face immediate sustainability issues, with 38 of 78 funds declining on all metrics measured.
