financial advice

Financial planning

Financial planners need protection on 'best interests'

ASFA urges better clarity on FOFA legislation to ensure planners are not exposed to vexatious litigation over scaled advice and best interests....

Policy & Regulation

FOFA unlikely to increase uptake of financial advice, says survey

While the majority of self managed superannuation fund (SMSF) professionals believe the proposed Future of Financial Advice (FOFA) changes will improve the standard of fi...

Financial planning

Patron opposes FSC's 'churn' proposals

Patron Financial Advice has opposed a Financial Services Council proposal to introduce a binding standard for insurance business, saying it would restrict consumer choice...

Editorial

Financial planning licensees defy ASIC's expectations

Despite some media reports to the contrary, Mike Taylor writes that the top 20 licensees in the financial planning industry emerged in reasonable shape from ASIC’s review...

Editorial

Time for financial planners to let go of trailing commissions

Putting aside the increasingly open question of whether the Gillard Labor Government will remain in power long enough to oversee the implementation of its Future of Finan...

Policy & Regulation

FPA concern on FOFA valuations impact

The FPA has expressed concern that lack of clarity in the FOFA legislation could undermine practice valuations....

Financial planning

ISN calls for stronger consumer protection

The Industry Super Network (ISN) has called for "watertight" consumer protection requirements to guard against future financial planning "scandals"....

Financial planning

FPA looks to online push

The FPA will leverage Google to push traffic to its consumer planning site....

Financial planning

Accountant exemption removal could lower financial advice access

The IPA says removing the accountants' exemption for financial advice on SMSFs could potentially lower access to advice rather than improve it....

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...

Superannuation

Removing accountant exemption good for SMSFs

If the accountant's exemption is removed when the second tranche of draft Future of Financial Advice (FOFA) legislation is released shortly, it will have positive implica...

Policy & Regulation

Delay FOFA implementation, says AFA

With the only winners from FOFA likely to be industry funds and the big end of town, the AFA has called on the Government to delay its implementation beyond 1 July, next ...

Financial planning

Finding the right value for financial advice

Pricing emerges as a key question for financial advisers at the BFPPG conference in Brisbane....

Financial planning

AFS works with AIOFP on MDA

Australian Financial Services (AFS) will launch a private label MDA next month it says is aimed at driving down costs ahead of the introduction of the FOFA reforms....

Financial planning

FOFA opt-in figures don't add up for financial planners

Government claims opt-in would cost around $11 per financial planning client is at best questionable and, at worst, entirely misleading, writes Mike Taylor....