FOFA

Financial planning

ASIC takes Melbourne financial advice provider to court

ASIC has commenced proceedings against Wealth and Risk Management (WRM), and related companies Yes FP and Jeca....

Editorial

Was the life insurance industry ever really guilty of “excessive” churn or was churn a means to a politically-motivated end?...

Policy & Regulation

Banks defy FOFA approach for mortgage brokers

The banks-sponsored Sedgewick Retail Remuneration Review has revealed a banking sector reluctant to apply FOFA norms to mortgage brokering lest they lose market share....

Funds management

ETMF $900m industry to double

ETMFs were growing 350 per cent faster than mFunds and the industry would double over the next 18 months but active managers should develop more ETMFs....

Financial planning

FPA members finally get opt-in relief

Members of the Financial Planning Association have been granted ASIC relief from opt-in if they sign up to the FPA’s Professional Ongoing Fees Code....

Financial planning

Sentry Group centralises back office

Sentry Group has teamed up with fintech provider, Intiger Asset Management, to provide a centralised back office administration and para planning solution to its advisers...

Financial planning

Regulatory change to cost $3b

The financial services industry had already spent $2.75 billion on implementing various regulatory changes, and should prepare to spend more on LIF, education standards, ...

Financial planning

SURVEY: Are dealer groups still appropriate?

Dealer groups have been an integral part of the financial planning industry but do they remain relevant in a post-FOFA increasingly technological world?...

Policy & Regulation

Lower barriers for PE and VC needed

The current framework does not have the right balance between welcoming overseas capital and ensuring Australia's national interests are protected, AVCAL believes. ...

Policy & Regulation

ASIC prosecutes on best interests duty

ASIC has initiated its first ever action relating to alleged breaches of the FOFA best interests duty....

Superannuation

PM holds line on super changes

Prime Minister, Malcolm Turnbull, has continued to hold the line on the Government’s Budget super changes....

Features

What’s the cost of bedding down FOFA? – Adviser Sentiment Part 2

Financial planners talk about what the costs of implementing FOFA have been for their practices even as they contemplate the next suite of changes stemming from tinkering...

Financial planning

Stringent compliance regime self-inflicted

The advice industry is to blame for the increased costs of stringent compliance regimes and reforms, with one planner saying “we’ve brought this on ourselves”....

Financial planning

FOFA compliance requires more staff

A financial planning group has had to employ additional staff to comply with FOFA but its principal questions whether the benefits justify the costs....