AIOFP

Financial planning

AIOFP flags stealth re-entry of banks to advice

Noting that some QAR recommendations make it “less legally onerous” for banks to provide advice, the industry association said it suspects a lingering interest from these...

Financial planning

Jones updates on experience pathway progression

Professionalisation of the financial advice industry needs to be balanced with the adviser shortage, according to Minister for Financial Services, Stephen Jones, as he co...

Financial planning

AIOFP welcomes ‘pragmatic’ view of Treasury to QAR

The Association of Independently Owned Financial Professionals has shared insights from its meetings with the Treasury regarding the Quality of Advice Review, where it st...

Financial planning

Hope for certainty with Albo win

Organisations have welcomed the election of Anthony Albanese as the next Prime Minister with the hope he will provide greater certainty for advisers after legislative cha...

Financial planning

Delivery of Quality of Advice review ‘questionable’: AIOFP

The industry is tired of reviews being passed onto third-parties, according to an industry expert, and advice must be separated from product for the review to be successf...

Financial planning

AIOFP criticises unsupportive younger advisers

The Association of Independently Owned Financial Professionals has criticised “elitist” younger advisers who do not support Labor’s proposed education exemption for older...

Policy & Regulation

AIOFP questions decision to exclude banks from CSLR

It has asked whether Senator Jane Hume’s and Treasurer Josh Frydenberg’s pre-political careers in the banking industry create a conflict of interest....

Financial planning

AIOFP hits back at FSC whitepaper

The Association of Independently Owned Financial Professionals is “cynical” of the Financial Services Councils’ recommendations and believe there are flaws....

Financial planning

Advisers should not be relied on to fund CSLR

As they make up only a fraction of complaints to the Australian Financial Complaints Authority, advisers should not be relied on to fund the compensation scheme of last r...

Financial planning

Advisers shouldn't be responsible for product failure

Product and advice should be kept separate, and advisers should not be responsible for product failure, according to an association....

Financial planning

AIOFP attacks govt with video on advisers

A video detailing the Liberal Government’s “unfair” treatment of financial advisers has been launched and suggest for clients to tell the government to stop supporting ba...

Policy & Regulation

FSCP appointees need to understand context of advice

Any “eligible person” appointed to the panel needs to understand the correct context of the advice in question, according to a Parliamentary submission....

Financial planning

Backlash slows ASIC’s termination of grandfathered commissions: AIOFP

The corporate regulator is only putting the brakes on terminating grandfathered commissions because consumers have started to realise the cost of advice has escalated due...

Financial planning

Lifespan donates $10k to AIOFP’s fund against grandfathered commissions ban

The advice network has said the grandfathered commissions are a legitimate form of income and the ban would increase the cost of advice....

Financial planning

AMP faces multiple challenges from BOLR changes

AMP Limited is facing multiple challenges as a result of its changes to its buyer of last resort arrangements and its signalling of a significant reduction in aligned adv...