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Showing 801 - 810 of 1211 results for "Future of"

Advice firms start to launch in post-FoFA regime

LAURA MILLAN  |  THURSDAY, 1 AUG 2013
The financial services industry is starting to see the first advice firms launching after the start of the Future of Financial Advice (FoFA) regulation and while the process is more rigorous now, newcomers have the advantage of being fully-compliant ...

ASIC wants more adviser record-keeping rules

LAURA MILLAN  |  THURSDAY, 1 AUG 2013
... that financial advisers improve the way they keep their records as part of the best interest duty obligation under the Future of Financial Advice (FoFA) regulation. In Consultation Paper 214 called "Updated record-keeping obligations for Australian financial ...

Best Interest drives advisers away from products

LAURA MILLAN  |  MONDAY, 29 JUL 2013
The Best Interest Duty provision of the Future of Financial Advice (FoFA) regulation is designed to make planners give comprehensive advice in a process where recommending a product is "the last piece of the puzzle." At the end of the advice process ...

FoFA could lock advisers into licensees for life

LAURA MILLAN  |  FRIDAY, 26 JUL 2013
The additional Future of Financial Advice (FoFA) regulations concerning the grandfathering provision could lock advisers into their licensee's dealership for life, consultancy firm Radar Results said. Industry bodies are already lobbying for changes ...

AFA to release code of conduct this year

LAURA MILLAN  |  WEDNESDAY, 24 JUL 2013
... will be approved by ASIC and will allow advisers to provide opt-in under the AFA code of conduct, and not under the Future of Financial Advice (FoFA) regulation. "We must earn the right to be considered a profession by our behaviours and everything that ...

Centrepoint spent $4.9 million in client claims

LAURA MILLAN  |  WEDNESDAY, 24 JUL 2013
... monitor its performance over compliance concerns and audit functions. Centrepoint also spent $586,000 to implement the Future of Financial Advice (FoFA) legislation, as well as $426,000 on terminations of executive staff. Centrepoint-owned PIS has experienced ...

Scaled advice to shape industry future

LAURA MILLAN  |  TUESDAY, 23 JUL 2013
The Future of Financial Advice (FoFA) reforms will bring an increase of demand for scaled advice over the long term and the cost of advice will go down, Rice Warner research commissioned by Industry Super Network (ISN) found. The report based on modelling ...

Grandfathering uncertainty already affecting businesses

LAURA MILLAN  |  MONDAY, 22 JUL 2013
... Dealer groups are already feeling the consequences of the uncertainty around the grandfathering provisions within the new Future of Financial Advice (FoFA) regulations with planners hesitant to change licensees until the legislation is clearer. Synchron ...

ASIC seeks to wind up of LM mortgage income fund

MARK SMITH  |  FRIDAY, 19 JUL 2013
ASIC has finalised its court submissions to decide the future of the multi-million LM First Mortgage Income Fund (FMIF), following the collapse of the fund manager in March. Court proceedings were started by two FMIF investors seeking orders for the ...

Market Wrap AM

AAP  |  THURSDAY, 18 JUL 2013
... KONG - Asian markets were mixed as investors focus on what US Federal Reserve chief Ben Bernanke has to say about the future of the bank's stimulus scheme during a congressional hearing later in the day. Profit-taking kept stocks in check following two ...