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Showing 101 - 110 of 131 results for "Best Interest Duty"

Government releases FoFA amendments

LAURA MILLAN  |  FRIDAY, 20 DEC 2013
... arrangements are significantly more costly to apply to pre-1 July 2013 clients." The government will also modify the best interest duty "to explicitly allow for the provision of scaled advice." "The changes will enable advisers to agree on the scope ...

FPA to lobby against FoFA redundancy

LAURA MILLAN  |  THURSDAY, 5 DEC 2013
... its proposal to amend the legislation. "Opt-in is redundant in a fee-for-service world where advisers have a best interest duty and where fee disclosure statements are required," FPA chief executive Mark Rantall said. "To add that additional piece of ...

Republicans vote that advisers have no best interest duty

ALEX DUNNIN  |  FRIDAY, 1 NOV 2013
In scenes reminiscent of Australia's looming political debate to wind back the adviser best interest duty, the Republican-dominated Congress in the US has voted for a bill that allows advisers to act without putting their clients' best interests first. ...

Read the rules, says ASIC

MARK SMITH  |  TUESDAY, 15 OCT 2013
ASIC deputy chairman Peter Kell reassured advisers at the AFA conference that the FoFA best interest duty is not as strict as people think. He reminded them to read the regulatory guidance before jumping to conclusions. "We're just over three months ...

Midwinter adapts planner software to client profile

LAURA MILLAN  |  WEDNESDAY, 9 OCT 2013
... advice (SOA) has been rewritten to make it compliant with the Future of Financial Advice (FoFA) reforms and the best interest duty. The new SOA focuses on self-managed super funds (SMSFs), portfolio review, portfolio management and research. AdviceOS ...

Advisers to justify platform choice under best interest

LAURA MILLAN  |  FRIDAY, 6 SEP 2013
Financial planners will have to justify platform choice under the best interest duty provision within the Future of Financial Advice (FoFA) regulation. The Australian Securities and Investments Commission (ASIC) has raised the issue that platform operators ...

FoFA FDS uncertainty remains

LAURA MILLAN  |  MONDAY, 12 AUG 2013
... soon as the new Government is elected. The FPA also plans to lobby for more clarity on scaled advice and the best interest duty.

ASIC wants more adviser record-keeping rules

LAURA MILLAN  |  THURSDAY, 1 AUG 2013
... Commission (ASIC) has proposed that financial advisers improve the way they keep their records as part of the best interest duty obligation under the Future of Financial Advice (FoFA) regulation. In Consultation Paper 214 called "Updated record-keeping ...

Best Interest drives advisers away from products

LAURA MILLAN  |  MONDAY, 29 JUL 2013
The Best Interest Duty provision of the Future of Financial Advice (FoFA) regulation is designed to make planners give comprehensive advice in a process where recommending a product is "the last piece of the puzzle." At the end of the advice process ...

Coalition confirms plans for FoFA amendments

LAURA MILLAN  |  TUESDAY, 9 JUL 2013
... simplification and streamlining of additional annual fee disclosure statement requirements and an improvement of the best interest duty. The Coalition also wants to provide certainty around the provision and availability of scaled advice and to refine ...