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Wall Street licence exemption a double-edged sword


Wall Street licence exemption a double-edged sword
Removing barriers to entry for global wealth managers could put downward pressure on investor fees, but undo hard-earned lifts in the quality of financial advice.
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A few years before the Hayne royal commission, a hot-shot wealth manager in a high-rise Manhattan boardroom was asked what it would take for him to bring his firm Down Under.
“Those big banks of yours would need to make some space,” the Ivy-leaguer replied, demonstrating a surprisingly astute knowledge of the Australian market. “And some of your rules and regulations would probably need to go too.” ....

Western Australia , Hong Kong , White House , District Of Columbia , United States , South Australia , Sally Loane , Simon Hoyle , Steve Blizard , Wa Liberal Party , Financial Services Council , Financial Industry Regulatory Authority , Roxburgh Securities , Trump White House , Wall Street , Down Under , மேற்கு ஆஸ்திரேலியா , ஹாங் காங் , வெள்ளை வீடு , மாவட்டம் ஆஃப் கொலம்பியா , ஒன்றுபட்டது மாநிலங்களில் , கருப்பு பாறை , தெற்கு ஆஸ்திரேலியா , சிமோன் ஹோய்ல் , வா தாராளவாத கட்சி , நிதி சேவைகள் சபை ,

Clients to foot $28m annual renewals bill


Clients to foot $28m annual renewals bill
Clients to foot $28m annual renewals bill
Concessions made by the government in its annual renewal legislation currently before Parliament are positive, but will have little impact on the multimillion-dollar bottom line costs of the measures, advisers and licensees say.
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The finalised legislation, which was introduced to Parliament on one of the last sitting days of the year, contains a number of concessions following industry consultation, including the merger of fee disclosure statements with annual renewal of ongoing fee arrangements and relaxed requirements around the dates that advisers must seek client consent. ....

Eugene Ardino , Sarah Kendell , Steve Blizard , Financial Planning , யூஜின் அர்டினோ , சாரா கெண்டெல்ல் , நிதி திட்டமிடல் ,