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Showing 51 - 60 of 530 results for "Future of Financial Advice"

Final nail in the coffin for grandfathered commissions

KANIKA SOOD  |  TUESDAY, 30 JUL 2019
... acting to end the grandfathering of conflicted remuneration." When commissions were banned under the Future of Financial Advice (FoFA) reforms in 2013, the legislation provided a carve out for trail commissions paid on existing investments. However ...

FPA launches Tinder for advisers

ELIZABETH MCARTHUR  |  FRIDAY, 19 JUL 2019
... New Financial Year Event 2019 when he said that the matchmaking tool is part of what he views as the future of financial advice. He added: "We are very excited about this tool and we feel it has the potential to really close the information gap that ...

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
... order to 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 ...

Suncorp Super faces action over adviser pay

JAMIE WILLIAMSON  |  TUESDAY, 4 JUN 2019
... to 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 ...

Consumers confused by general, personal advice

ELIZABETH MCARTHUR  |  FRIDAY, 29 MAR 2019
... circumstances into account." ASIC says that the report highlights the importance of consumer awareness, as the Future of Financial Advice protections only apply when personal advice is provided. The FoFA protections include obligations for advisers to ...

Grandfathered commissions ban unconstitutional: Association

JAMIE WILLIAMSON  |  MONDAY, 4 MAR 2019
... constitutional matters. The AIOFP is concerned the proposed ban is not constitutionally valid as, under the Future of Financial Advice reforms, it was determined that: "The proposal to ban particular remuneration structures can only operate prospectively ...

Grandfathered commissions ban splits industry: Poll

KARREN VERGARA  |  MONDAY, 25 FEB 2019
... of interest in remuneration. "I would bring the grandfathering arrangements made at the time of the Future of Financial Advice (FoFA) reforms to an end. The time for transition has passed," Hayne said. "Advisers have an incentive to keep their clients ...

Grandfathered commissions deadline challenging: AFA

JAMIE WILLIAMSON  |  WEDNESDAY, 6 FEB 2019
... Singh said Fiducian has been working on converting commissions to fees for service shortly after the Future of Financial Advice reforms were implemented in July 2013 - almost six years ago. Today, about 4% of the group's revenue is still derived from ...

Grandfathered commissions to be banned

JAMIE WILLIAMSON  |  MONDAY, 4 FEB 2019
... of interest in remuneration. "I would bring the grandfathering arrangements made at the time of the Future of Financial Advice (FoFA) reforms to an end. The time for transition has passed," Hayne said. The time when the initial advice was given and the ...