Twelve-month FOFA phase-in likely, says John Brogden

Financial Services Council chief executive John Brogden has predicted the Federal Government will allow a 12-month transition period for the Future of Financial Advice changes.

Addressing a Sydney forum today, Brogden predicted a 12-month transition starting from 1 July, 2012.

His prediction came at the same time as he warned that intra-fund advice was an inadequate delivery platform.

Brogden cited scaled advice as the only sensible approach and urged legal changes sufficient to allow clients and financial advisers to agree to the scope of advice.  

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