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FoFA future uncertain as Palmer threatens to join oppositionBY LAURA MILLAN | MONDAY, 30 JUN 2014 4:00PM
The government's efforts to give financial advisers more certainty by passing some of the Future of Financial Advice (FoFA) reforms through regulations could be in vain as Clive Palmer suggested his party, Palmer United, does not support the measures.
Read more: Clive Palmer, FoFA, Coalition, Financial Advice, Future, Independent Senator Nick Xenophon, July 1, Palmer United, PUP, ABC AM program, Correction, Dante De Gori, December 31, Fairfax, Fairfax representative Clive Palmer, Finance Mathias Cormann, Financial Planning, Financial Planning Association, Financial Standard, Financial Standard coverage, FPA, House, Labor, Minister, Palmer United Party, Party Senator Ricky Muir, Representatives, Senate, Senator Clive Palmer
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Towards a perfect currency solution
There is a good chance the planned superannuation guarantee increase to 12% will be deferred again as the nation continues to struggle with the effects of COVID-19, according to Mercer senior partner David Knox.
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The global fund manager saw its profits tumble 196% following net outflows of close to $19 billion in the first half of this year, resulting in heavy hits to fee and commission income.
Chi-X TraCRs and funds will now be offered on a $1.9 billion privately owned wealth management platform, granting financial advisers and their clients access to some of the world's biggest listed companies.
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