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Showing 11 - 20 of 108 results for "Future of Financial Advice Reforms"

What SMSFs will look like in 2030

ELIZABETH MCARTHUR | WEDNESDAY, 19 FEB 2020

... "What is the solution? Get some advice, for the love of God," Blomfield said. He said post Future of Financial Advice reforms, the number of Australians receiving financial advice has halved and those who are accessing advice have a net-worth twice as ...

Separate advice and product: AIOFP

ELIZABETH MCARTHUR | FRIDAY, 7 FEB 2020

... identified $37 billion in losses from product failures. The association noted that since the Future of Financial Advice reforms commenced in 2013, advisers have not been remunerated by product manufacturers but rather paid by clients. "That was the only ...

Whistleblower calls out approved product lies

ELIZA BAVIN | WEDNESDAY, 23 OCT 2019

... mitigated the risk of competition and evolution. "If the nature, purpose and intent of the Future of Financial Advice reforms and the Royal Commission's recommendations are to improve advice quality, address conflicts of interest and boost transparency ...

Colonial First State hit with second class action in less than a week

ELIZA BAVIN | MONDAY, 21 OCT 2019

... new members because it was clear they were not in members' best interests, through its Future of Financial Advice reforms. "Ever since, CFS continued to pay commissions with respect to existing members under what became known as the 'grandfathering ...

Priced out: Advice affordability at risk

ELIZABETH MCARTHUR | MONDAY, 9 SEP 2019

... for ordinary Australians is under threat. Anderson pointed to the original objectives of the Future of Financial Advice reforms, which include ensuring the availability, accessibility and affordability of high-quality financial advice. This was reinforced ...

ASIC to review end of grandfathering

ELIZABETH MCARTHUR | WEDNESDAY, 21 AUG 2019

... conflicted remuneration," the joint statement said. When commissions were banned under the Future of Financial Advice reforms in 2013, trail commissions on existing investments were exempt. The Royal Commission recommended an end to the payments as soon ...

Frydenberg flags new advice disciplinary system

HARRISON WORLEY | MONDAY, 19 AUG 2019

... Australia's financial regulators to enforce the law," Frydenberg said. "In comparison, the Future of Financial Advice Reforms (FOFA), took almost 23 months from when the Parliamentary Joint Committee on Corporations and Financial Services tabled ...

Adviser association rebrands, grows membership

KARREN VERGARA | THURSDAY, 18 JUL 2019

... independent financial advisers." The LICG was formed on the back of the Life Insurance Framework and Future of Financial Advice reforms. At one point, it had over 3000 registered members and 6000 advisers on the mailing list. UFAA's committee members ...

MLC faces class action over adviser fees

ELIZABETH MCARTHUR | WEDNESDAY, 10 JUL 2019

... pay commissions and other fees to advisers. It is alleged these fees were charged after the Future of Financial Advice reforms banned conflicted remuneration for advisers in 2013. Under the grandfathering provisions in those reforms, certain commissions ...

Suncorp Super faces action over adviser pay

JAMIE WILLIAMSON | TUESDAY, 4 JUN 2019

... entrench fees or commissions that would otherwise have been unlawful or unenforceable under the Future of Financial Advice reforms. In doing so, the trustee breached its duties to avoid conflicts, act with due care and diligence, and act in the best ...

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Australian Unity to shed 195 roles

MATTHEW WAI

Australian Unity is reducing its workforce by 195 positions due to underperformance stemming from delays in government support for its Home Health platform and the integration of several businesses.

Count shutters limited-advice business, slips in size ranking

MATTHEW WAI

Count Financial has reportedly wound up its restricted SMSF/limited-advice service, losing some 26 advisers on the Financial Adviser Register, latest data shows.

First Super recruits head of investments from Prime Super

MATTHEW WAI

First Super has appointed a new head of investments, replacing Chris Artis, who was in the position for the past three months on an interim basis.

BMO eyes Euroz Hartleys' capital markets business

KARREN VERGARA

Euroz Hartleys confirmed it is in discussions with Canada's BMO Financial Group for a potential sale of its capital markets business for $145 million.

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