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
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.
Further Reading
Products
Expert Feed
When geopolitics becomes a portfolio risk
Geopolitics is back - again - and Australian investors can no longer treat it as distant background noise.
Does association membership still matter?
With all the changes the advice sector has experienced in recent years, such as regulatory reform and increased education and professional standards ...
Digital assets and where they stand in 2026
So far in 2026 digital assets have captured the headlines largely for the wrong reasons, but that doesn't tell the full story.
Rethinking default design in a changing market environment
The evolution underway in the US DC system highlights the value of periodically reassessing default design assumptions.
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. |  |
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.