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Search ResultsShowing 1 - 10 of 100+ results for "FOFA"
ASIC mainly concerned with media releases: Lawyer
ELIZABETH MCARTHUR  |  TUESDAY, 9 JUN 2020
... argued that advisers were made sacrificial lambs by Australia's largest institutions during the Future of Financial Advice (FOFA) reforms, and are still feeling the consequences. "The big end of town, led by their industry bodies, successfully watered ...
Processes are the problem, not people: Count Financial
ALLY SELBY  |  WEDNESDAY, 13 MAY 2020
... clients to help them achieve their personal and business goals," Kennedy said. Despite the challenging environment in the post-FoFA, Royal Commission, and COVID-19 world, Count Financial has still seen an increase in inbound requests. "Although the advice ...
AMP defends hefty remuneration bill
ELIZABETH MCARTHUR  |  FRIDAY, 8 MAY 2020
... shareholder asked about AMP's strategic "re-invent advice" program, asking why it didn't re-invent itself after the FOFA reforms. Murray said: "There are significant structural issues and regulatory issues that are making it exceptionally difficult ...
Global manager reduces fees on flagship fund
ALLY SELBY  |  THURSDAY, 30 APR 2020
... and its Dynamic Global Bond Fund (0.40% p.a.), which have both been competitively priced for the post Royal Commission and FOFA environment. The government's changes to end grandfathered provisions for conflicted remuneration will come into effect from ...
Compliance worse than COVID-19
ALLY SELBY  |  THURSDAY, 23 APR 2020
... Advice for the typical client. "So as big a disrupter COVID-19 has been, it's still hasn't topped the impact of FoFA and the Royal Commission and what it's been for planners businesses from a compliance burden perspective," he said. "Becoming ...
Lack of independence must be made clear: ASIC
ELIZA BAVIN  |  TUESDAY, 10 MAR 2020
... services that a client is entitled to and the total cost of the fees that will be charged. This would also be applicable to pre-FoFA clients. Lastly, ASIC recommends not allowing a fee to be paid from any account that is controlled by a separate entity ...
PIMCO puts Aussie LIT on ice
KANIKA SOOD  |  MONDAY, 3 FEB 2020
... for LICs and LITs which were allowed to pay advisers and brokers a commission even after the Future of Financial Advice (FoFA) reforms banned such payments on most investment products. The consultation, which was announced by Treasurer Josh Frydenberg ...
Stamping fees consultation kicks off
KANIKA SOOD  |  TUESDAY, 28 JAN 2020
... advisers and brokers for exchange-listed funds, as public scrutiny into the practice mounts. The Future of financial Advice (FoFA) reforms in 2013 put an end to commissions that financial advisers could collect from putting clients into investment products ...
Government ignored ASIC over LIC carve-out
HARRISON WORLEY  |  MONDAY, 6 JAN 2020
... Australian Financial Review , ASIC pleaded with the Coalition government not to expand the stamping fee carve-out in the FoFA laws in late 2013. The expansion of the carve-out was designed to allow financial advisers to recommend clients invest in listed ...
Westpac to pay $9.5m for Corps Act breaches
JAMIE WILLIAMSON  |  THURSDAY, 19 DEC 2019
... the 2010 investigation," Wigney said. Wigney said it is tolerably clear that - at least prior to the commencement of the FoFA reforms - some officers or employees of Westpac were either unable or unwilling to terminate the services of a representative ...
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