grandfathering

Financial planning

Federal judge calls for industry to scrap the ‘grandfathering’ term

In a curious aside to ASIC’s appeal of the CBA/Colonial First State judgment, the judge has taken issue with the financial services industry’s use of the term ‘grandfathe...

Financial planning

Removal of grandfathering and rebates was ‘overdue’

CountPlus boss, Matthew Rowe, has forewarned shareholders to be ready to feel the revenue effects of the removal of grandfathering and product rebates but has claimed the...

Financial planning

CFS moves on grandfathering and insurance commissions

Colonial First State has announced fee reductions on the back of a program which will see the removal of grandfathered conflicted remuneration and insurance-related advis...

Financial planning

Release of grandfathering submissions reveals positioning

Submissions directed to Treasury around the end of grandfathering revealed little significant resistance but genuine concern around how client rebates should work....

Financial planning

CFS to axe grandfathering on MIFs from 1 March

Colonial First State has flagged eliminating all grandfathered remuneration from mid-2020....

Policy & Regulation

Will ASIC’s review tell the whole story on grandfathering?

The Australian Securities and Investments Commission has revealed the degree to which grandfathering will come to an end without the Government having been fully apprised...

Editorial

Ending grandfathering – advisers deserve the facts

It appears that the Government moved to end grandfathering from the beginning of 2021 without knowing the precise dimensions of the issue and without taking into consider...

Financial planning

How ASIC ran out of pages to explain grandfathering fall-out

The Australian Securities and Investments Commission chairman, James Shipton, has claimed the regulator simply didn’t have enough pages to explain the implications of end...

Financial planning

Grandfathering – ASIC relied on sample-based data

The Australian Securities and Investments Commission has admitted that its earlier pronouncements on ending grandfathered commissions was based on sample-sized data....

Financial planning

Lifespan donates $10k to AIOFP’s fund against grandfathered commissions ban

The advice network has said the grandfathered commissions are a legitimate form of income and the ban would increase the cost of advice....

Financial planning

Anomalies could disadvantage grandfathered clients

The Federal Government has been warned that its loosely-framed legislation risks forcing clients into worse situations when grandfathering ends....

Superannuation

Suncorp to defend class action over fees

Conflicted fees are once again a hot legal topic, with Suncorp being hit with a class action in the New South Wales Supreme Court over superannuation commissions paid to ...

Financial planning

AFA rebuts ISA grandfathering claims

The Association of Financial Advisers has expressed utter confusion at why Industry Super Australia would think financial advisers stood to gain anything from the rebatin...

Financial planning

Ending grandfathering impacting emotional health of advisers

The Federal Treasury has been warned that politicians have failed to understand grandfathering with the result that the emotional health and well-being of advisers is bei...

Funds management

Product providers should rebate grandfathered commissions says FPA

The Financial Planning Association has told Treasury that it is the financial product providers who should be responsible for rebating grandfathered commissions and they ...