Guardian to help advisers prepare for FOFA
Guardian Advice has joined the fray in attempting to ensure its advisers are ready for the new Future of Financial Advice (FOFA) regime.
The risk-focused dealer group announced this week it would be running comprehensive FOFA workshops in June to reiterate to advisers their key responsibilities under the new legislative regime, and coaching advisers in demonstrating the value of advice they provide to their clients.
Commenting on the workshops, Guardian Advice head Simon Harris said it represented a further step in the journey Guardian had embarked upon in educating advisers in becoming FOFA-ready.
“Our workshops will ensure advisers have the knowledge and tools to clearly demonstrate the value of the advice they provide to their clients,” he said.
“We’ve invested enormous resources, IP and time in our FOFA-readiness program and I’m confident all of our efforts will help protect our advisers’ businesses.”
Harris said what had been lost in the FOFA preparation by other groups was a focus on advisers creating stronger, more regular engagement with their clients.
He claimed this was an area Guardian has been deliberately focussing on in planning for FOFA’s introduction.
Recommended for you
With an advice M&A deal taking around six months to enact, two experts have shared their tips on how buyers and sellers can avoid “deal fatigue” and prevent potential deals from collapsing.
Several financial advisers have been shortlisted in the ninth annual Women in Finance Awards 2025, to be held on 14 November.
Digital advice tools are on the rise, but licensees will need to ensure they still meet adviser obligations or potentially risk a class action if clients lose money from a rogue algorithm.
Shaw and Partners has merged with Sydney wealth manager Kennedy Partners Wealth, while Ord Minnett has hired a private wealth adviser from Morgan Stanley.
