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Showing 41 - 50 of 744 results for "FOFA"

Super funds call for grandfathering ban

KARREN VERGARA  |  THURSDAY, 27 SEP 2018
... members being able to pay personal advice fees from their superannuation fund balance subject to the sole purpose test and FoFA constraints. But this should only be available if a service has clearly been provided and with the member's consent, it said. ...

AFA rejects criticism over grandfathered commissions

JAMIE WILLIAMSON  |  WEDNESDAY, 26 SEP 2018
... AFA argues it was never implied nor explicitly stated by the Government that a decline in grandfathered commissions post-FOFA was expected. A Treasury submission to the Royal Commission in July reads: "At the time FOFA was introduced, it was believed ...

Advisers warming up to LICs

KANIKA SOOD  |  THURSDAY, 6 SEP 2018
... LIC growth. In July 2010 changes to the Corporations Act which gave greater consistency to LIC dividends Then in July 2013 FoFA legislation was passed. And SMSF sector has grown. However, a significant portion of the LICs, many are relatively small in ...

HUB24 lifts targets

KANIKA SOOD  |  MONDAY, 20 AUG 2018
... IOOF. "We expect the key impacts of Royal Commission will represent an acceleration of existing forces at play on the post FOFA environment," it said. "These include three out of four major banks exiting wealth, pressure being applied to grandfathered ...

IOOF executives dismiss conflicts of interest

KARREN VERGARA  |  FRIDAY, 10 AUG 2018
... differentials for choice and pension members went from 0.85% to between 0.35% and 0.70%. By not repricing the "back book" of pre-FoFA grandfathered commission arrangements as at 1 January 2014, revenue did not take an $8 million hit. A statement presented ...

Former NULIS chair faces Royal Commission

KANIKA SOOD  |  TUESDAY, 7 AUG 2018
... fee would need to be repaid if there was no adviser linked to the account. Smith also said she did not recall the looming FoFA changes as a primary or in-part motivation for the new fee structure. Two key fees under the new plan were: an adviser contribution ...

IMAP awards managed accounts excellence

KARREN VERGARA  |  THURSDAY, 2 AUG 2018
... the ability to create pricing structures that reflect the value clients place on the services they receive, he said. Out of FoFA came transparency, clarity and the demise of conflicted remuneration, Potter said. Conversely, a legal structure and sustainable ...

BTFG will pay back grandfathered commissions to customers

KANIKA SOOD  |  WEDNESDAY, 25 JUL 2018
... why BT Advice waited so long to abolish grandfathered commissions if it believed so strongly in it, Wright threw back to FoFA five years ago. "There were two components to grandfathering and I think the industry forgot one of them, which was allowing ...

Macquarie axes grandfathered commissions

JAMIE WILLIAMSON  |  WEDNESDAY, 4 JUL 2018
... Royal Commission earlier this year. The big banks and AMP copped widespread criticism for the practice - a legacy of the 2013 FoFA reforms - and ASIC, in its submission to the Royal Commission following its second inquiry, recommended the elimination ...

Allianz Retire+ announces leadership team

JAMIE WILLIAMSON  |  WEDNESDAY, 27 JUN 2018
... Ripoll, who most notably chaired the Parliamentary Joint Committee on Corporations and Financial Services that led to the FoFA reforms of 2013. The Allianz Retire+ board is rounded out by former KPMG partner and current Allianz Australia non-executive ...