FOFA

Financial planning

Grandfathering a game of diminishing returns

Managed account specialists warn that grandfathering needs to be viewed as a diminishing resource....

Financial planning

FPA’s outgoing chairman, Matthew Rowe, says the FPA won’t seek to defend the indefensible where bad advice is concerned....

Policy & Regulation

FOFA disallowance reduces affordability of advice: FSC

Fewer Australians will be able to afford to obtain financial advice following the Senate’s decision to disallow the Government Future of Financial Advice regulations, the...

Policy & Regulation

Labor votes down FOFA amendments

The Federal Opposition has voted down the amendments to FOFA after protracted debate and procedural wrangling which occupied most of yesterday’s sitting time....

Policy & Regulation

ASIC urged to be facilitative on FOFA

The FPA has urged a facilitative approach from ASIC as planners seek to comply with the Senate imposed FOFA reversal....

Policy & Regulation

FOFA disallowance motion blocked by Govt

Efforts to pass a motion in the Federal Senate to disallow FOFA amendments have stalled for the time being after the Federal Government blocked a vote on the motion....

Policy & Regulation

FOFA disallowance motion ‘catastrophic’: FPA

The FPA has denounced efforts in the Senate to disallow amendments to FOFA predicting changes will automatically place advisers in breach of the law....

Policy & Regulation

Labor has Senate numbers to defeat FOFA amendments

The Federal Opposition will push to disallow the FOFA amendments in the Senate after Labor Senator Sam Dastyari stated it had secured the numbers to win a vote on the mat...

Financial planning

Advisers need to change how they communicate risk

Advisory firms will need to examine how they communicate risk to clients under FOFA and not trust that old methods will still be suitable in the future. ...

Financial planning

Scaling back advice

It's been an issue that's ruffled feathers across the industry, but is scaled advice finally gaining traction in the planning world? Kate Cowling investigates. ...

Financial planning

Plan to escape the legal traps

As risk planning remains a hot topic in the financial advice space, Malavika Santhebennur explores the top 10 legal quandaries planners can find themselves in and how to ...

Editorial

Rating an adviser - caveat emptor

The men who brought you One Big Switch have now launched Adviser Ratings, but Mike Taylor writes that the devil is in the detail of their disclaimers. ...

Financial planning

Cormann backs CBA process over Royal Commission

The Government has rejected a Royal Commission into Commonwealth FP claiming the bank’s Open Advice Review Program should be allowed to work....

Policy & Regulation

FOFA driving up costs

Efforts to improve the standards of the financial planning sector are driving the cost of advice beyond the reach of average Australians, William Buck reports. ...