The Investment and Financial Services Association (IFSA) has thrown its weight behind financial planning dealer groups amidst market volatility and a number of high profile company collapses.
In a paper entitled An insight into the structure and operation of Financial Advisory Networks, the peak body says that without the support of dealer groups, or financial advisory networks (FANs), it might not be possible for independent planners to operate other than within large institutions.
IFSA highlights the role dealer groups play in raising standards in professional development, assisting financial planners with compliance obligations, and dispute resolution.
“Often overlooked and of particular value is the special role FANs play when markets hit difficult periods,” says IFSA CEO Richard Gilbert.
“Advisory networks can help ensure that investors make informed and rational decisions when turbulence hits or there is a market downturn and people need clear, timely and accurate information to assist them in their decision-making.”
Regulation1
E&P sees Dixon in rearview mirror while advisers foot the bill
The parent company of Dixon Advisory, E&P Financial Group, has told the market its legacy issues are behind it, while preaching its core values of putting clients first and acting with integrity. Meanwhile, former Dixon clients are left on their own to fight for compensation and advisers and licensees are left to foot the bill. Simon Hoyle and Chris Dastoor write it’s par for the course for a flawed scheme design and a “diabolical” funding model.
Chris Dastoor and Simon HoyleAugust 29, 2024
