alex.burke's avatar
alex.burke
Icon for Advisely Team rankAdvisely Team
2 years ago

QAR: does the first tranche cut it?

One notable omission from Treasury's draft QAR legislation is optional SOAs, which were originally going to be part of the first "stream" of reforms when the Government first responded to the review ...
policy
Phil.Anderson's avatar
Phil.Anderson
Icon for Advisely Partner rankAdvisely Partner
2 years ago

It was definitely disappointing that the removal of the Best Interests Duty safe harbour and the rationalisation of SoAs was not in the first package of QAR draft legislation, however a lot of work has been done on both of these critically important initiatives, so hopefully they will not be far behind.  We knew they would not be in the first package, but disappointing nonetheless.

The one big thing in this first package was the removal of FDSs, however I guess this does not count for much if you had transitioned your business over to annual agreements.  Hopefully the second package is not far off and will generate more excitely from the advice profession.

Welcome to the Advisely forums!

This is where financial advice professionals from all walks of life come together to share knowledge, swap ideas, solve problems, and talk all things growth and efficiency.

Here are some tips when posting in the forums:

  • Be respectful and courteous to fellow members
  • If a reply helped you, mark it as a solution so other users can find it easily
  • Take a moment to read through our Community Guidelines
  • For Xplan support issues, it's best to raise a ticket in Iress Connect first. You can also search the discussions for posts about the same issue first before starting a new thread.
  • Keep an eye out for our 'Ask me anything (AMA)' threads – these are live text-based Q&As with industry and Xplan experts during a set period of time. Find out when the next one is happening here.
  • Don’t be shy! You don’t need to be an expert to help someone out. Many users are looking for practical advice, shared experiences, or just a fresh perspective
  • Introduce yourself and meet other members here!

We’re glad you’re here – see you around! 😁

Recent Discussions