Out of touch and on the nose

In its FY25 corporate plan, ASIC noted that one of its strategic priorities would be “monitoring the use of offshore outsourcing arrangements.”

- By Jamie Williamson

While there are no solid figures available around the use of outsourcing arrangements currently, anecdotal evidence suggests thousands are being employed offshore for a variety of reasons by advice businesses and licensees.

In the face of increased costs and compliance requirements, outsourcing has become an effective means for many practice owners to continue offering the same level of service their clients have come to expect.

Overall, there hasn’t appeared to be any issues with this development, particularly in light of COVID-19 and how it changed the way many of us work. But could the tide be turning?

This fortnight, Financial Standard uncovered a controversial new policy at Vision Super.