FOFA

Expert Analysis

The UK went through its Retail Distribution Review in 2012, writes Chris Mather, so what can it teach Australia about the evolving financial advice system?...

Features

InFocus: Why the financial planning industry’s ills grew out of FSR in 2001

As Mike Taylor takes his leave from Money Management, he reflects upon the well-intentioned 2001 legislation which proved to have so many adverse, unintended consequences...

Financial planning

How ASIC spent $31,000 on consumer advice submissions

The Australian Securities and Investments Commission funded $31,000 in consumer submissions about key financial advice policy issues including FoFA and the code of conduc...

Financial planning

Report confirms advice gap

The challenge for financial advisers is understanding their client’s advice needs and what they can afford. ...

Financial planning

Is the ASIC affordable advice review just the first step?

Will the Government initiate an independent review of the legislation and regulation around financial planning based on the findings of the current Australian Securities ...

Financial planning

ASIC reviewing LIF but don’t mention REP 413

The Australian Securities and Investments Commission is now claiming that its pivotal REP 413 which acted as the catalyst for the Life Insurance Framework is no longer re...

Policy & Regulation

ASIC's consumer panel also key to FOFA opt-in submission

Members of the Australian Securities and Investments Commission’s Consumer Advisory Panel played a role in developing a key consumer Future of Financial Advice submission...

Features

InFocus: Volume rebates are long gone so who gets the money now?

Mike Taylor writes that with the few remaining grandfathered remuneration arrangements coming to an end, a different regime has already evolved with the ultimate cost bei...

Financial planning

Financial services industry had too much influence over Liberals

NSW Liberal Senator, Andrew Bragg, has stated his belief the financial services industry had too much influence over Liberal Party policy and that the Coalition was wrong...

Financial planning

CBA, Westpac and AMP facing new FoFA-related class actions

Breaches of the Future of Financial Advice rules will sit at the centre of class actions being formulated against the Commonwealth Bank, AMP and Westpac and a number of t...

Financial planning

Advisers should not be tainted by stamping fees

Advisers should not be tainted by media reports that they are using stamping fees as a remuneration loophole, according to the Association of Financial Advisers. ...

Financial planning

Intra-fund advice has created advice unfairness

A West Australian adviser has told the Federal Treasury that industry funds have been allowed to hide behind intra-fund advice and to create an environment that favours o...

Financial planning

Free up scoped, scaled and episodic advice says AMP

At the same time as it seeks to reshape and rebuild its advice business, AMP Limited has called on a Government panel to consider changes which would make it easier to ac...

Financial planning

Intrafund advice simply not enough says FPA

The benefits of comprehensive financial advice significantly outweigh those delivered by intra-fund advice and this should be recognised within the Retirement Income Syst...

Editorial

Objectively, Hayne barely earned a pass mark

Much of the commentary attaching to the first anniversary of the Hayne Royal Commission recommendations has tended to flatter what was, objectively, a flawed outcome thor...