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Showing 81 - 90 of 148 results for "FOFA reforms"

Advice frameworks need an overhaul

MELANIE TIMBRELL  |  FRIDAY, 1 JUN 2012
... should instead be driven by individual investor objectives. "We found that as structural change is introduced through FOFA reforms and advisers started to experience outcomes on how they'd risk profiled and invested clients' money, they essentially discovered ...

SPAA reassures members on opt-in

MELANIE TIMBRELL  |  WEDNESDAY, 28 MAR 2012
... qualifies for the ASIC exemption that obviates the opt-in requirement for advisers signed to a professional code. "The FOFA reforms will result in the raising of standards across the financial planning profession, which is a positive step to boosting ...

FSC: Government drops opt-in requirement

CLAIRE MCGREAL  |  THURSDAY, 22 MAR 2012
The Financial Services Council has accused the government of "walking away" from the "centrepiece" of the FOFA reforms by dropping the opt-in requirement for advisers. The FSC said it was responding to FOFA amendments tabled in parliament today, maintaining ...

Mandatory FOFA start date confirmed for July 2013

CLAIRE MCGREAL  |  THURSDAY, 15 MAR 2012
The financial services industry has been given another year to implement the FOFA reforms, with the mandatory industry wide start date confirmed as July 1, 2013. Financial Services Minister Bill Shorten announced the proposed FOFA changes will kick ...

FOFA provisions will go ahead: PJC

ELISE BURGESS  |  THURSDAY, 1 MAR 2012
... reasonable fee for service or a genuine value of scale efficiencies. When discussing the expected impacts of the FOFA reforms on the advice industry, the PJC agreed there would likely be consolidation of the advice industry, with larger institutionally ...

Platforms hoard cash amid FOFA uncertainty

MELANIE TIMBRELL  |  THURSDAY, 23 FEB 2012
... implementation sees providers readying themselves for the possibility of rushing through development for compliant products. "FOFA reforms continue to act as a catalyst for new developments, with many platforms rushing to be compliant in time for the ...

Conflict of interest still key issue: ASIC shadow shop

CLAIRE MCGREAL  |  TUESDAY, 21 FEB 2012
... speakers included Jenni Mack, chair of consumer group CHOICE, who touched on the cost and benefits of the proposed FOFA reforms. Mack maintained the figures being bandied about by industry players on the potential costs of the reforms "stretched credulity" ...

Video SoAs on the cards

ELISE BURGESS  |  THURSDAY, 16 FEB 2012
... delegates to be aware of and embrace new tools to their advantage. "What the Government is intending to do through the FOFA reforms is to introduce the concept of scaled advice. This is where the opportunity actually lies, to attract people on this single ...

New MLC unit focuses on accountants servicing SMSFs

MELANIE TIMBRELL  |  WEDNESDAY, 15 FEB 2012
... Solutions was set up in response to the volume of enquiries from accountants on changes to licensing as a result of the FOFA reforms, although it pre-empts an announcement by Minister for Financial Services and Superannuation, Bill Shorten on the exact ...

No time for FOFA impact statement: OBPR

MELANIE TIMBRELL  |  WEDNESDAY, 15 FEB 2012
... getting the statements to a suitable standard. In evidence to the Parliamentary Joint Committee inquiry into the FOFA reforms held last month Jim Murphy, market group executive director for Treasury said, "the fact of the matter is OBPR ran out of time." ...