Lawyers and FoFA: answers to curly questions
Can dealer groups retain volume bonuses under the Future of Financial Advice (FoFA) reforms Do you need to be a mind reader to figure out what the Australian Securities and Investments Commission wants in terms of Codes of Conduct Can you keep paying commissions under FoFA? So straight answers is what we will be giving them.”
December 10, 2012
Dec 2012 – Jan 2013:
Digital content
A guide to the Professional Planner December 2012 - January 2013 edition and links to authors and additional content. 04 - from the CEO Lead, or get out of the way 05 - from the editor 08 - planner profile
December 03, 2012
APES 230 could harm risk advice industry
The Accounting Professional and Ethical Standards Board (APESB) financial planning standard will negatively impact advisers with links to accounting firms, by increasing advice fees and reducing client affordability.
November 29, 2012
Financial planning defined in “national interest”
The Financial Planning Association (FPA) has welcomed the government’s release of the draft legislation for enshrining the terms financial planner and financial adviser in Australian law. The draft legislation, released today (November 28), follows extensive consultation with the financial planning industry.
November 28, 2012
“Irrational exuberance” behind bond bubble?
Last week MLC’s Brian Parker made the case for bonds as part of a diversified investment strategy Investment bubbles are hard to spot The former chairman of America’s central bank famously warned in December 1996 that stock market investors were displaying “irrational exuberance”
November 27, 2012
Healthy advisers winning battle of the bulge
According to a survey, advisers are exercising more than the average, getting more sleep and are actively putting healthy habits into practice. The AIA Australia Healthy Living Adviser Index was applied to over 70 advisers attending the Association of Financial Advisers (AFA) conference on the Gold Coast in late October, collectively achieving a Healthy Living Index score of 65 out of a possible 100. Super-charged advisers
November 27, 2012
Yellow Brick Road: the Wizards of Oz?
Walking down the Yellow Brick Road worked out well for Dorothy in the Wizard of Oz and now financial advisers will have a similar opportunity courtesy of Mark Bouris. A path to the Emerald City is not for everyone, but Yellow Brick Road Wealth Management believes there are enough fellow travellers “disaffected by the system” to join its crusade.
November 26, 2012
Investors reveal mixed feelings on FoFA, advice
Regulatory initiatives such as the Future of Financial Advice reforms may initially be counterproductive as they scare off the retail investors they are designed to protect. A global investor study by the State Street Centre for Applied Research (CAR) has found that a significant number of Australian investors believe they will be forced to bear extra costs arising from the changes.
November 13, 2012
Commonwealth adviser banned; Storm rages on
ASIC has permanently banned a former Commonwealth Financial Planning financial planner in its latest action against the Commonwealth Bank of Australia subsidiary. In June, ASIC accepted an enforceable undertaking from former CFPL employee, Joe Chan, following an investigation into the advice provided by several Commonwealth financial advisers.
November 12, 2012
New dawn but no IFAs to seize the day
While the outlook for independent financial advice is good and likely to be boosted by pending industry reforms, one practitioner believes it is under threat due to a shortage of quality IFAs. Matthew Ross, an independent financial adviser with Roskow Independent Advisory, says the biggest short-term obstacle to his business is finding the right people who share his vision, passion and values.
November 08, 2012
Opt out “makes sense”:
a legal view
Despite Parliament’s imposition of an opt-in requirement for continuing fee arrangements, the Australian Securities and Investments Commission has suggested that an opt-out arrangement might be acceptable.
November 08, 2012
November 2012:
Digital content
A guide to the Professional Planner November 2012 edition and links to authors and additional content. 04 - from the editor May the best managers win Simon Hoyle - simon.hoyle@conexusfinancial.com.au 08 - planner profile
November 02, 2012
