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Showing 201 - 210 of 261 results for "General advice"

FSC apologises to AusSuper for misinformed tweet

JAMES FERNYHOUGH  |  MONDAY, 26 MAY 2014
... Cecilia Storniolo said: "It is hypocritical to suggest that commissions should be banned under FoFA, including for general advice or information, when intra-fund advice is charged in a non-transparent manner," adding that it was a "a bundled advice fee ...

FPA reveals 10 point plan to improve advice

LAURA MILLAN  |  FRIDAY, 23 MAY 2014
... group to develop an advice education framework. "The term 'commission' to be defined and then banned under the general advice exemption," the document proposed, and asked for general advice to be re-named as "general or product information." It also ...

Intra-fund advice is also a commission: FSC

LAURA MILLAN  |  FRIDAY, 23 MAY 2014
The Financial Services Council (FSC) said that asking for a ban of commissions on general advice is "hypocritical" when intra fund advice itself is "non-transparent." FSC policy and global markets director Andrew Bragg and senior policy manager Cecilia ...

FPA and AFA unite: stop commissions on general advice

LAURA MILLAN  |  THURSDAY, 22 MAY 2014
The two advice bodies have asked for a complete removal of commissions on general advice during their appearance at the Senate hearing about the Future of Financial Advice (FoFA). The Association of Financial Advisers (AFA) and the Financial Planning ...

Westpac weighs in on FoFA debate

LAURA MILLAN  |  FRIDAY, 9 MAY 2014
... so that "advice is not something only the wealthy can afford." The submission supported that proposal to exempt general advice from the conflicted remuneration provision; a measure that some fear will bring back commissions. "We do not agree with concerns ...

Stakeholders stage FoFA confrontation in Senate submissions

LAURA MILLAN  |  WEDNESDAY, 7 MAY 2014
... phrase. It also supported the prospective obligation to provide fee disclosure statements and the exclusion of general advice from the conflicted remuneration provision. But Monash University associate professor Paul Latimer said that "the financial ...

YBR adds 13 branches to its network

LAURA MILLAN  |  THURSDAY, 1 MAY 2014
... Exchange (ASX). The group has given so far 70 accreditations for credit and personal advice, 37 for credit and general advice (simple life insurance and savings), 40 for credit advice only and 30 for personal advice only. YBR reported that life insurance ...

AFA focuses FSI submission on FoFA "misinformation campaign"

LAURA MILLAN  |  MONDAY, 7 APR 2014
... addressed other issues such as the implications of direct insurance on consumers, the differences between scaled and general advice and the government's role on improving consumer literacy. Read all Financial Standard coverage of the Murray inquiry h ...

FPA calls for clear separation of general and personal advice

LAURA MILLAN  |  FRIDAY, 4 APR 2014
... the FPA said in its submission to the Murray inquiry. The organisation argued that financial product advice or general advice "if it is to be called advice, should always be based on whether it concerns the personal circumstances of the client." The ...

Government will go ahead with FoFA changes: Ciobo

JAMES FERNYHOUGH  |  THURSDAY, 3 APR 2014
... interest duty catch-all provision, the removal of the opt-in requirement, and the sanctioning of commissions for general advice. The bill has been referred to the Senate Economics Committee, which is due to report in mid-June. "In the meantime, the acting ...