Editor's Choice
The 'blind spot' costing advisers nearly $10bn: Research
|Research from Elemnta indicates financial advisers do not realise they are expending nearly twice as much effort on non-advised operations, highlighting a perception gap and challenges related to data collection and access, which cost 6000 practices about $9.36 billion in "destroyed enterprise value".
Canadian pension giant takes 20% stake in La Trobe
|Canadian public pension fund OMERS has taken a minority stake of nearly 20% in La Trobe Financial from Brookfield.
ASIC issues another stop order for private credit fund
|ASIC has issued an interim stop order on the Murdoch Clarke Mortgage Fund, issued by Murdoch Clarke Mortgage Management, prohibiting it from offering, issuing, selling or transferring interests in the fund.
Inheritors struggle to act on financial advice: Survey
|Australia's wealthy inheritors are making major financial decisions before they feel ready, with new research highlighting a gap between receiving professional advice and having the confidence to act on it.
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Featured Profile
David Sharpe
CHAIRMAN
FINANCIAL ADVICE ASSOCIATION AUSTRALIA
FINANCIAL ADVICE ASSOCIATION AUSTRALIA
A family man, business owner, cricket fanatic and financial adviser, David Sharpe has many facets. One of his biggest legacies, as he steps down as chair of the Financial Advice Association Australia, is leaving the profession stronger than he found it.
The Financial Standard podcast Tune in each week as we discuss the latest developments in Australia's wealth management industry. |  |
What a load of dribble from the FPA. They claim to stand for consumer rights yet say this dribble.
The FOFA law was never overturned, if Advisers didn't play by the rules that's their own fault.
It's a win for the consumer;
It's a win for the professional adviser; and
It's a loss for the tossers who scammed their clients and brought all this upon us.
Next...
OK, if this is such a win for consumers let's see the same rules applied to Industry Super Funds. And while we are at it, let's include the so called general advice for online insurance and put an end to consumer rip offs with sub-standard policies where the only "advice" is to 'read the fine print'.
Mark Thompson, we might be able to take you seriously if the rip-offs were being led by the Liberal Party-funding big banks, who have their hands so deep in the average Australians' pockets. Storm, Westpoint, Timbercorp were all connected to conflicted advice under the umbrella of the vertically integrated wealth management system. You and your industry have lost this argument morally, politically and every other way.