From publicaccountant.com.au: The DBFO package introduces significant changes for financial advisers, including allowing them to maintain Financial Services Guides on their websites instead of providing printed copies, reducing administrative burdens.

Key amendments, effective January 2025, enable a single consent document for ongoing fee arrangements over a more extended time period, streamlining adviser-client processes.

Upcoming legislative reforms aim to simplify Statement of Advice requirements and the best interests duty, potentially reducing compliance costs for advisers and improving advice accessibility.