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GRANDFATHERING
Financial planning
In a curious aside to ASIC’s appeal of the CBA/Colonial First State judgment, the judge has taken issue with the financial services industry’s use of the term ‘grandfathe...
Financial planning
CountPlus boss, Matthew Rowe, has forewarned shareholders to be ready to feel the revenue effects of the removal of grandfathering and product rebates but has claimed the...
Financial planning
Colonial First State has announced fee reductions on the back of a program which will see the removal of grandfathered conflicted remuneration and insurance-related advis...
Financial planning
Submissions directed to Treasury around the end of grandfathering revealed little significant resistance but genuine concern around how client rebates should work....
Financial planning
Colonial First State has flagged eliminating all grandfathered remuneration from mid-2020....
Policy & Regulation
The Australian Securities and Investments Commission has revealed the degree to which grandfathering will come to an end without the Government having been fully apprised...
Editorial
It appears that the Government moved to end grandfathering from the beginning of 2021 without knowing the precise dimensions of the issue and without taking into consider...
Financial planning
The Australian Securities and Investments Commission chairman, James Shipton, has claimed the regulator simply didn’t have enough pages to explain the implications of end...
Financial planning
The Australian Securities and Investments Commission has admitted that its earlier pronouncements on ending grandfathered commissions was based on sample-sized data....
Financial planning
The advice network has said the grandfathered commissions are a legitimate form of income and the ban would increase the cost of advice....
Financial planning
The Federal Government has been warned that its loosely-framed legislation risks forcing clients into worse situations when grandfathering ends....
Superannuation
Conflicted fees are once again a hot legal topic, with Suncorp being hit with a class action in the New South Wales Supreme Court over superannuation commissions paid to ...
Financial planning
The Association of Financial Advisers has expressed utter confusion at why Industry Super Australia would think financial advisers stood to gain anything from the rebatin...
Financial planning
The Federal Treasury has been warned that politicians have failed to understand grandfathering with the result that the emotional health and well-being of advisers is bei...
Funds management
The Financial Planning Association has told Treasury that it is the financial product providers who should be responsible for rebating grandfathered commissions and they ...
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MARKET INSIGHTS
Podcast
So we are now underwriting criminal scams?...
Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...
Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...