Search ResultsShowing 1 - 10 of 100+ results for "FOFA"
Advice associations slammed
JAMIE WILLIAMSON  |  THURSDAY, 3 OCT 2019
... industry associations have done nothing for the fees advisers have been paying; completely ineffective in changing FSR, FOFA, industry funds, MySuper, TASA, banks' vertical integration and product flogging, LIF, FASEA, dealer fees, PI costs and a ...
Complexity of grandfathered commissions overlooked
ELIZABETH MCARTHUR  |  FRIDAY, 27 SEP 2019
... Anderson points out that during the Parliamentary Joint Committee on Corporations and Financial Services Inquiry into the FOFA legislation grandfathering was not the subject of any debate. "A detailed understanding of the history of FOFA helps in understanding ...
REP 515 divides advice community
ELIZABETH MCARTHUR  |  WEDNESDAY, 28 AUG 2019
... of ensuring the availability and affordability of high quality financial advice. "We're certainly struggling on the FOFA initiatives," Anderson said.
Super debate too one dimensional: Rice Warner
HARRISON WORLEY  |  MONDAY, 26 AUG 2019
... Warner noted the continuous tinkering with the super industry had led to some positive policy outcomes, pointing to the FOFA reforms of 2013 - for revolutionising and "totally disrupting" the financial advice industry - and the introduction of MySuper ...
Down but not out: Top advisers adapt
ELIZABETH MCARTHUR  |  MONDAY, 26 AUG 2019
... executive director of research Alex Dunnin says. "This is not just due to the impacts of the Royal Commission, FASEA or FoFA, but the combined effects of dramatic change over many years. "Product providers significantly changing their business models ...
Frydenberg flags new advice disciplinary system
HARRISON WORLEY  |  MONDAY, 19 AUG 2019
... Australia's financial regulators to enforce the law," Frydenberg said. "In comparison, the Future of Financial Advice Reforms (FOFA), took almost 23 months from when the Parliamentary Joint Committee on Corporations and Financial Services tabled ...
Final nail in the coffin for grandfathered commissions
KANIKA SOOD  |  TUESDAY, 30 JUL 2019
... 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, ending ...
The case for tax deductible advice
JAMIE WILLIAMSON  |  MONDAY, 3 JUN 2019
... The FPA also cited the requirement for advisers to join the Tax Practitioners Board and the banning of commissions under FOFA as fair motivations.
MP slams prolonged grandfathered commissions carve out
KARREN VERGARA  |  TUESDAY, 2 APR 2019
... to IOOF , banned all grandfathered commissions paid to salaried advisers from 1 April 2019. In the lead up to legislating FoFA to protect consumers from bad financial advice in 2013, Thistlethwaite pointed out that Parliament agreed to provide a "carve-out" ...
Consumers confused by general, personal advice
ELIZABETH MCARTHUR  |  FRIDAY, 29 MAR 2019
... 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 act in their clients best interests and to provide advice that is appropriate ...
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