Tag: finance

Mon 19th December 2022

The Financial Planning Association has welcomed Michelle Levy’s handing down of the final report of the Quality of Advice Review to the Government, and eagerly awaits its findings by the Financial Services Minister, Stephen Jones.

FPA CEO, Sarah Abood, said it is crucial the Minister moves quickly to reduce the regulatory burden that financial planners are under, which has seen significant cost added to the profession over the past 10 years.

“The Review is a critical opportunity to reduce the cost of providing advice in Australia and improve the ability of Australians to get access to high quality professional financial advice.

“While we are waiting to see the final recommendations, our members were encouraged by those made in the Proposal Paper earlier this year, including a more principles-based approach to regulating the provision of financial advice.

“The FPA believes the regulatory costs of providing personal advice

Thu 15th December 2022

The Financial Planning Association of Australia (FPA) says yesterday’s decision by the Australian Taxation Office (ATO) to update its guidance on the tax deductibility of financial advice fees is very welcome.

The ATO’s move comes after two years of advocacy and engagement by the FPA, in conjunction with Tangelo Advice Consulting.

FPA CEO, Sarah Abood, says the ATO’s consultation process could be a gamechanger.

“The FPA has long been advocating for broad tax deductibility of both initial and ongoing financial advice fees. One of the quickest and easiest ways to make quality financial advice more affordable for consumers, would be to make it tax-deductible in full.

“While we continue to advocate strongly for this outcome with government, we’ve also been calling out concerns with the ATO’s current guidance on deductibility of advice. Tax Determination 95/60 considers an upfront fee paid for an investment plan in 1995.

Job security is always a concern when choosing a career, but some fields are more recession-proof than others. And while there’s no guarantee that any job will be immune to cutbacks or layoffs, some industries weather economic storms better than others.

One industry that tends to be recession-resistant is finance. After all, people will always need financial services, whether investing their money, taking out loans, or managing their taxes. And while the finance industry has seen its share of ups and downs over the years, it generally bounces back fairly quickly after a downturn.

If you’re considering a career in finance, you’re probably wondering what the best-paying jobs are. With this in mind, we’ve compiled a list of the highest-paying finance jobs for 2023.

12 Highest Paying Jobs in Finance

While many finance jobs pay well, the following 12 positions sit at or near the top of the pay scale

If you have $15,000 stashed away, you’ll want to put that money to work. If you don’t, inflation can quickly eat away at your nest egg. Plus, the current rise in interest rates has made it worthwhile to have some money in savings accounts again.

But where should you invest your $15,000? That depends on when you’ll need the money, whether you want it to grow for a few years, a few decades, or longer. In the meantime, you’ll want to consider how much risk you’re willing to take to get a reasonable return.

16 Ways to Invest $15,000 in 2023

To help you figure out how to invest $15k, I compiled a list of 16 of the best options. Keep reading to find out where I think $15,000 should be invested in early 2023 and how you can get started today.

1. High-Yield Savings Accounts 

If you have $15,000