Strong backing for FOFA legal challenge
A significant number of financial planners want the industry to challenge key elements of the Government’s proposed Future of Financial Advice (FOFA) changes in the courts.
A survey conducted by Money Management has revealed 85 per cent of respondents believe a challenge needs to be mounted against the FOFA proposals and, in particular, the two-year opt-in.
What is more, 80 per cent of those respondents have indicated they would be prepared to help fund such a challenge.
Money Management posed the issue of a legal challenge to the FOFA proposals following comments by Victorian regional planning principal, Brian Handley (pictured).
Full details of the survey results will be published in this week’s edition of Money Management.
AUTHOR
Mike Taylor
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