Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter

ASIC unveils Financial Advisers Register

The regulator has launched the first stage of the new Financial Advisers Register on its MoneySmart website.

The new register contains more than 19,000 appointments and supports the government’s commitment to provide an industry-wide public register of financial advisers.

It contains details of those employed or authorised, directly or indirectly, by Australian financial services licensees, and aims to provide personal financial advice to retail clients on investments, superannuation and life insurance.

“The new register enables consumers to find out information about their adviser before they receive financial advice,” ASIC deputy chairman Peter Kell said.

“It also gives employers greater ability to assess new financial advisers and will improve ASIC’s ability to identify and monitor financial advisers.”

Advertisement
Advertisement

PROMOTED FEATURES


ASIC noted there are a small number of advisers who are not yet registered, and said this may be detrimental to their client list.

“While late appointments will continue to be accepted, advisers who are not on the register may potentially lose clients,” it said.

ASIC will now focus on the second stage of the register, which will include details on qualifications, training and professional memberships for financial advisers.

ASIC unveils Financial Advisers Register
mortgagebusiness

Latest News

The federal government has unveiled a plan to overhaul responsible lending laws by shifting from a “lender beware” model to a “borrowe...

Housing affordability pressures have intensified for first home buyers in five of Australia’s major capitals, who now require more time to...

ASIC has directed fund managers to do more to remain “true to label” after finding that funds labelled as cash had assets other than cas...

FROM THE WEB
podcast

LATEST PODCAST: How lenders are viewing the property price outlook

Do you expect to see strong uptake of the HomeBuilder scheme?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.