future of financial advice

Financial planning

Planner liability thrown into confusion by court decision

The level of proportionate liability for the actions of planners and licensees has been made uncertain after the Federal Court contradicted itself in recent ruling....

Editorial

Lightning strikes twice

The financial planning industry suffered substantial collateral damage as a result of the collapse of Storm Financial but, as Mike Taylor reports, last week’s Senate Comm...

Financial planning

Independent AFSLs to rise from the ashes

Advisers who left independently-owned licensees in tougher financial times are expected flock back in the name of “unbiased” advice. ...

Financial planning

Cormann confirms telling Commbank to sort it out

The Minister for Finance and Acting Assistant Treasruer, Senator Mathias Cormann, has confirmed meeting with Commonwealth Bank chief, Ian Narev, and impressing on the ban...

Superannuation

ISA to change ads after ASIC expresses concern

Industry Super Australia (ISA) has voluntarily offered to change its 'Compare the Pair’ advertising campaign after concerns were raised by the Australian Securities and I...

Policy & Regulation

Time to end the scare-mongering says FSC

The FSC says the Government’s FOFA changes announcement means its time to end the scare-mongering. ...

Financial planning

Conflicted remuneration should be defined in law

SPAA claims that explanatory statements to FOFA amendments will be ineffective and best interest duty and conflicted remuneration should be defined within legislation....

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....

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....

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...

Financial planning

AFA clarifies view on general advice

The AFA has restated its wariness about the general advice exemption at a Senate hearing. ...

Financial planning

Commissions to cost consumers $7.5b: report

Consumers face additional fees and charges of up to $530 million a year if the Federal Government backs proposals to reintroduce commissions, a report from Rice Warner re...

Editorial

The case for alternative assets

With traditional asset choices no longer offering the portfolio diversification they once did for Australian investors, Alexander McNab makes the case for alternative ass...