financial advice

Policy & Regulation

Govt’s FOFA changes tighten up on conflicted rem

The planning industry has welcomed the Government’s FOFA changes most of which will be imposed via regulation but which include a tougher approach to conflicted remunerat...

Financial planning

Conflicted remuneration should be defined in law

SPAA claims that explanatory statements to FOFA amendments will be ineffective and best interest duty and conflicted remuneration should be defined within legislation....

Financial planning

FSI unlikely to create ructions for advice sector

The Financial Service Inquiry is unlikely to drive deep changes to the financial services sector according to an analysis of the 270 submissions made to the inquiry....

Policy & Regulation

Senate Committee gives thumbs up for FOFA amendments

Senate Committee recommends FOFA amendments be passed but Greens and Labor Senators object to all the suggested changes....

Policy & Regulation

AFA not surprised by FOFA committee report

The AFA is not surprised by the report of the Parliamentary Committee on the FOFA amendments but wants the line held on product advice....

Policy & Regulation

Key FOFA report due today

Cormann says Senate Committee report will influence the shape of the Government’s ultimate FOFA changes....

Policy & Regulation

Cormann outs FOFA amendment critics

Finance Minister, Senator Mathias Cormann claims critics of the Government’s FOFA changes have fallen short on offering viable alternatives....

Financial planning

Product fees costing Australians billions

Financial advice clients were charged an average of $1800 each in fees last year, largely due to the growing basket of products they were sold by advisers and brokers, re...

Financial planning

ASIC acts against two advisers

ASIC has banned two advisers from providing financial services for up to five years. ...

Financial planning

BFP backs FPA on separating products from advice

The BFP claims a structural flaw has allowed banks, insurers and super funds to dress up product sales as advice....

Editorial

ETF: The low-cost revolution

ETFs lay in the shadow of other investment vehicles for almost a decade, but the last two years have seen their value skyrocket. Could it have anything to do with regulat...

Editorial

A necessary separation

Providing regulatory backing for the separation of product sales from advice should be welcomed by the broader financial planning community....

Financial planning

Planners shifting away from benchmark hugging managers

Planners have rejected mainstream broad cap managers clustered around the benchmark opting for a mix of passive investments and specialist active managers....