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Walk to professionalism gains speed

The financial planning sector in Australia is moving rapidly towards becoming a profession in a process that is now irreversible. This is the view of Australian Securities and Investments Commission (ASIC) deputy chairman Peter Kell, who described the financial advice industry as being in a state of flux with a lot of professionals operating, but […]
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AMP: raise quality of advisers

Financial advisers have little hope of becoming fully fledged professionals while rogue advisers are allowed to jump between dealer groups with impunity. AMP Financial Planning managing director Michael Guggenheimer believes the problem is ongoing and that it is time for dealer group heads to take action. “I would welcome a conversation among licensee heads… about […]
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First 12 months of FoFA crucial: Securitor

Ensuring that the best financial planning practices not only survive the Future of Financial Advice (FoFA) reforms but thrive in the new environment and enjoy long-term stability is a key challenge for licensees. This is the view of Securitor managing director Matt Englund who said the fortunes of quality practices, especially in the first 12 […]
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Risk specialist with affinity for big and small

The industry trend towards specialisation and an open approved products list (APL) are attracting risk specialists to new kid on the block Affinia, with 30 advisers signing up in the past few months. Life insurer TAL launched Affinia late last year but the doors only officially opened on February 14. Including TAL’s previous AFSL and […]
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Hillross rebrand attracts independents

Hugh Humphrey, managing director of Hillross, acknowledges that the Future of Financial Advice (FoFA) reforms have “many moving parts” but, aside from a few  clarifications, the regulator has declared the AMP dealer group ready for the July 1 start. “There is still a bit more information to come particularly around final clarity on conflicted remuneration, implications […]
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