ASIC must open the door for financial advice licensees to be able to combine fee disclosure statements and annual opt-ins into one document without facing regulatory action, a managed account provider has said.
If policy-makers legislate annual opt-ins for Ongoing Service Agreements they should mitigate the extra work for advisers by folding Financial Disclosure Statements into a combined document, says Xplore Wealth chief executive Michael Wright.
Extreme market volatility has left many portfolios in need of some rebalancing but investors should be cautious of their timing while volatility remains high, according to Xplore Wealth chief executive Michael Wright.
The government’s legislative response to the royal commission recommendations around annual fee opt-ins for adviser clients is impractical given a proportion of clients will never be able to opt in during the specified time, according to Mike Wright CEO of Xplore Wealth.
J.P. Morgan has won a mandate to provide custodial services to an ASX-listed platform and superannuation provider.In a quarterly business update, Xplore Wealth revealed it has a new custodial agreement contract with J.P. Morgan.