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Showing 91 - 100 of 744 results for "FOFA"

SMSFs encouraged to embrace fintech

DARREN SNYDER  |  FRIDAY, 25 NOV 2016
... ongoing administration for assets where only beneficial ownership is provided. From an adviser's perspective, in the post-FOFA fee for service world the pressure is already there to demonstrate real value when servicing SMSF clients. Fintech presents ...

Advisers optimistic amid challenges

KERRIE SYDEE  |  THURSDAY, 27 OCT 2016
... environment had improved and the remainder saying it had become more difficult. Advisers cited the Future of Financial Advice (FOFA) reforms as their biggest pain point, with 61% stating it had a negative influence on their business. Vanguard Australia ...

ASIC confirms systemic failures in advice

KERRIE SYDEE  |  THURSDAY, 27 OCT 2016
... ASIC said most of the failures outlined in the report occurred before the commencement of the Future of Financial Advice (FOFA) reforms, with the changes made by FOFA playing a significant factor in identifying the failures. ASIC expects the introduction ...

LIF to be introduced this week

MARK SMITH  |  MONDAY, 10 OCT 2016
... insurance is one of the issues that this government has taken out of the 'too hard' basket - it could've been tackled in the FoFA legislation and it wasn't. We are now making progress with those changes."

Super members should face "better off test"

DARREN SNYDER  |  TUESDAY, 4 OCT 2016
... urgent scrutiny is needed of the direct sales tactics employed by Australia's banks that sidestep Future of Financial Advice (FoFA) protections," he said. "The figures show direct advice is growing quickly and at the expense of traditional channels including ...

Sentry Group partners for back office solution

KERRIE SYDEE  |  TUESDAY, 20 SEP 2016
... financial advice and client service. "Advice practices and licensees must transform their operational models to reflect the post FoFA LIF era that requires consumer/client best interests are firmly at the centre of everything they do. "With significant ...

Storm Financial investor slams court decision

ALEX BURKE  |  MONDAY, 29 AUG 2016
... behaviour." Worse still, Weir suggested that there was arguably little reason why the Storm fiasco couldn't be repeated, despite FoFA measures: "The banks enabled this to happen in conjunction with Storm, and then they sailed off into the sunset. The ...

Sentry Group slams LICG's "opportunistic attack"

ALEX BURKE  |  WEDNESDAY, 24 AUG 2016
... letter. Directed to the financial services industry, the letter admitted that Sentry believes there are a "number of aspects of FOFA and the proposed LIF that in our opinion adversely affect the consumer and detract from the affordability and delivery ...

Aligned advisers return to UK

MARK SMITH  |  WEDNESDAY, 3 AUG 2016
... aligned advice - the new advisers will be restricted to recommending only Aviva products - after the UK's version of the FoFA reforms, the Retail Distribution Review, all but consigned the vertical model to the scrapheap when they came into force in ...

ASIC issues first "best interests" duty penalty

ALEX BURKE  |  THURSDAY, 9 JUN 2016
ASIC has taken its first action against a licensee for breaching the FoFA "best interests" duty showing that the reforms have come of age. NSG Services, formerly National Sterling Group, is licensed to provide personal advice on risk insurance and superannuation ...