Government succeeds in securing final FoFA changesBY LAURA MILLAN | WEDNESDAY, 16 JUL 2014 1:05PMThe government's deal with the Palmer United Party (PUP) means that the proposed changes to the Future of Financial Advice (FoFA) legislation are set to go through. Related News |
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Matt Gaden
HEAD OF AUSTRALIA
JANUS HENDERSON INVESTORS (AUSTRALIA) LIMITED
JANUS HENDERSON INVESTORS (AUSTRALIA) LIMITED
Helping investors traverse financial markets and build their wealth during the peaks and troughs is Janus Henderson Investors head of Australia Matt Gaden's game plan. He tells Karren Vergara why in this long game of investing, active management wins.
That's all well and good, though Corporate Super is still unworkable in light of MySuper and FOFA.
The situation is now that when a member leaves their Employer and is retained by the Fund Manager, they will continue to be charged a fee (both Choice and MySuper members) that used to be paid on to the Planner but will now be retained by the Fund Manger.
This is clearly not in the best interest of the client and is not in the interest of the planner as they are now not paid to provide their ongoing service to the member.
Clearly this needs looking at.