New FoFA will not bring back old commissions: FactCheckBY STAFF WRITER | MONDAY, 2 JUN 2014 12:50PMChanges to the Future of Financial Advice (FoFA) legislation will not bring back old-style commissions, ABC's FactCheck program said, contradicting shadow Treasurer Chris Bowen. Related News |
Editor's Choice
Praemium's new leadership toughens earnings yardstick
Praemium's new leadership will be keeping a close eye on costs, with new chief executive Denis Orrock noting he will make sure the technology upgrade underway translates into stronger earnings and better returns for shareholders.
Australian Ethical FUM drops by $70m
Australian Ethical saw a net outflow of $100 million in its investment business in the first quarter of the financial year.
Perennial expands wholesale offer for pre-IPOs
Perennial Partners is launching a new strategy for wholesale investors to capitalise on global pre-IPO opportunities, requiring a minimum investment of $100,000.
Macquarie wealth investment chief to depart
Macquarie chief investment officer for wealth will take on a new role at a New Zealand-based investment management firm after serving in the position for close to three years.
Further Reading
Products
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.







Chris Bowen, scaremongering?
That doesn't sound right for the guy who said the Coalition's plan to stop the boats wouldn't work while we watched as new boats arrived each and every day under his watch...!!
Bowen makes some very big statements, none of them are informed of course, just politically motivated and they (the Labor Party) criticised the Coalition for being "negative".
No mirrors in the Labor offices, still...!!
LOL, you Bowen bashers can all eat your words now. It has been shown Fact Check was wrong in this and it didn't have all the info needed to make an advised decision. It will mean a return to the bad old days.
And what a crock the LNP's argument is? If Labor gets its way small business will be ruined. Where is the Fact Check on that ridiculous statement?
The big banks and AMP are the big stakeholders in this, not small business.