FOFA

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....

Financial planning

Broker predicts planning industry split

Financial planning business broker predicts the industry will split into two sectors with non-aligned groups dominating the holistic, high touch advice space....

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

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....

Financial planning

ASIC admits targeting big dealer groups

ASIC admits it targeted the big planning groups for shadow shopping because it thought it would make the most impact....

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...

Life/Risk

Duty of care reality checks

Advisers must be extremely diligent about ensuring they fulfill their duty of care, as two recent court cases have shown. David Glen runs through the post-FOFA adviser ch...

Policy & Regulation

Let FOFA reforms bed-in: ISA

Industry Super Australia (ISA) has reiterated its view that Future of Financial Advise (FOFA) reforms should be given time to deliver benefits to consumers before new cha...

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....

Policy & Regulation

ASIC executive claims pre-FOFA exploitation

ASIC executive claims consumer misunderstandings were exploited for the benefit of financial services providers....

Policy & Regulation

Cormann claims vindication on FOFA

The Minister for Finance, Seantor Mathias Cormann claims vindication on the back of the FOFA findings of the ABC Fact Checking unit....

Financial planning

Clients attracted to transparent flat fees for advice

Advisers urged to charge clients flat fees instead of claiming commissions, to avoid conflicts of interest. ...

Policy & Regulation

Bowen 'scaremongering’ on FOFA reforms: ABC

Claims that the Federal Government’s proposed changes to the Future of Financial Advice (FOFA) reforms could cost retirees’ their life-savings are 'scaremongering’, accor...