best interests

Policy & Regulation

FOFA will 'decimate' industry, warns AFA

The Association of Financial Advisers has warned that consumers are the missing ingredient in FOFA legislation which risks decimating the financial planning industry....

Policy & Regulation

End FOFA carve-outs, say consumer groups

Consumer groups including Choice and the Australian Shareholders Association (ASA) have welcomed the Government's Future of Financial Advice (FOFA) bills but argue they n...

Financial planning

ASFA concerned about director remuneration models

The remuneration of superannuation fund directors should be publicly disclosed, according to the Association of Superannuation Funds of Australia....

Financial planning

ASFA concerned about director remuneration models

The remuneration of superannuation fund directors should be publicly disclosed, according to the Association of Superannuation Funds of Australia....

Policy & Regulation

ASIC's FOFA guidance timeline looks to 1 July, 2012

ASIC will release regulatory guidance on FOFA reforms in time for a 1 July 2012 implementation date - if the bills pass parliament in time....

Superannuation

Dominant SMSF trustees not an insurmountable issue

While an increasing number of dominant SMSF trustees has been raised as an issue of concern by some members of the wider industry, Peter Hogan, Principal of Plaza Financi...

Editorial

The cost of playing by FOFA's rules

The second tranche of the Government's Future of Financial Advice legislation has laid out the remuneration and best interests ground rules for financial planners but, as...

Policy & Regulation

FOFA tranche contains unintended consequences

The Financial Services Council (FSC) warns FOFA tranche may restrict the ability of financial services companies to provide scalable financial advice....

Policy & Regulation

Shorten introduces FOFA second tranche

<b>Updated:</b> The Assistant Treasurer, Bill Shorten, has introduced the second tranche of the Government's Future of Financial Advice (FOFA) legislation in to the Parli...

Editorial

How financial planners will engage with clients in a post-FOFA world

The Government's FOFA legislation will undoubtedly change some of the relationships which exist between planners and their clients but, as Sonnie Bailey writes, underlyin...

Policy & Regulation

Canadian insurance guru questions FOFA's intent

Canadian financial planning and life insurance expert Bruce Etherington has compared Australia's current round of Future of Financial Advice (FOFA) reforms to previous ex...

Editorial

Industry super funds' advertising onslaught 'incomparable'

The industry superannuation funds advertising campaign reached such a level in September and early October that it prompted the Financial Planning Association (FPA) and t...

Financial planning

Financial planners question ISN advertising blitz

The Financial Planning Association (FPA) and Association of Financial Advisers (AFA) has questioned the legitimacy of a television advertising blitz by industry superannu...

Policy & Regulation

Financial Ombudsman Service on its own after FOFA introduction

When the "best interests" duties contained in the Future of Financial Advice (FOFA) reforms become law, the lack of a legal precedent will see the Financial Ombudsman Ser...

Financial planning

Unclear best interest guidelines spell trouble

Treasury should fix the uncertain best interest guidelines so that advisers are clear on the extent they are protected from legal claims brought by disgruntled clients, a...