FOFA checklist launched

Specialist financial planning coaching company Elixir Consulting has launched a service designed to help planning companies determine whether they are ready to handle the Government’s proposed Future of Financial Advice (FOFA) changes.

The service, launched today, stress-tests the reliance of firms on trailing commissions as well as providing assistance in explaining and implementing changes to make practices ‘FOFA-ready’.

Elixir Consulting managing director Sue Viskovic acknowledged that while a lot of advisers were taking a ‘wait and see’ approach to FOFA, others were looking to begin the process of adapting their businesses.

She said her company’s approach was intended to allow advisers to cut through the ‘noise’ of FOFA and get answers specifically designed for their business.

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