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Showing 51 - 60 of 746 results for "FoFA"

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 ...

BT Financial Advice cuts grandfathered commissions

JAMIE WILLIAMSON | WEDNESDAY, 20 JUN 2018

... on prior decisions to stop BT Financial advisers receiving any benefit from stamping fees (despite being permitted under FoFA), ensuring that all BT Financial Advice ongoing advice customers receive an opt-in notice (not just those who joined after the ...

Adviser performance data vital to remuneration

JAMIE WILLIAMSON | TUESDAY, 19 JUN 2018

... lot of advisers have had difficulty creating salary packages for their staff, as the conflicted remuneration elements of FoFA have removed the ability to pay commissions to advisers," Elixir managing director Sue Viskovic said. "While commissions on ...

$900bn of wealth soon up for grabs: Research

HARRISON WORLEY | THURSDAY, 24 MAY 2018

... $900 billion of wealth would become available for management. The review service cited new FASEA educational standards and "FOFA-like changes from the Royal Commission" as key drivers in the impending mass exit. Adviser Ratings managing director Angus ...

ASIC and FPA submit recommendations to RC

HARRISON WORLEY | FRIDAY, 11 MAY 2018

... grandfathered submissions, but suggested a three-year timeline to phase out the practice. Additionally, the association admitted that FoFA obligations which were introduced to manage conflicts of interest between advisers and product manufacturers working ...

RECAP: Advice in the Royal Commission spotlight (Day 4 and 5)

KANIKA SOOD | FRIDAY, 20 APR 2018

... about customer trust, on his second day in the hot seat. The sales culture hit its height three or four decades ago, but FoFA has changed it in recent years, Wright said. Ironically, Wright's LinkedIn profile describes himself as a "sales professional" ...

RC questions adviser sales tactics

KARREN VERGARA | FRIDAY, 20 APR 2018

... professional." The height of the sales culture would have been three or four decades ago, but it has changed most recently, thanks to FoFA, he said. Banning conflicted remuneration as of July 2013 was the start of it, together with increased fee disclosure ...

Royal Commission to boost ETFs: VanEck

KANIKA SOOD | FRIDAY, 20 APR 2018

... increasing number of financial advisers have been using ETFs to diversify client portfolios since the Future of Financial Advice (FOFA) reforms, according to VanEck managing director and APAC head Arian Neiron. "We anticipate a high degree of financial ...

ASIC totally unprepared for advice reforms: Tynan

ALEX BURKE | THURSDAY, 19 APR 2018

... As a result of this, Tynan hasn't seen anything come out of the Royal Commission yet that genuinely surprised him. "It was FoFA that brought in opting-in. But up until then, that's not how the industry operated. Those policies are still there, on the ...

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BT appoints new head of strategy

KARREN VERGARA

A former Allianz Retire+ executive has joined BT as the new head of strategy.

ASX sees trade volumes soar in May

MATTHEW WAI

ASX saw a substantial growth in trade volumes last month, despite continued lackluster movement in IPOs.

Otivo launches AI-powered financial advice

MATTHEW WAI

Otivo has launched a mobile app for Australians to access licensed advice powered by AI.

Munro expands access to climate focused fund

VINNY VUCAGO

The Munro Global Growth Climate Leaders PIE Fund has been opened to retail investors in New Zealand.

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