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Financial Planning

Cormann tables adviser register to "weed out bad apples"

LAURA MILLAN  |  THURSDAY, 17 JUL 2014
A public register of financial advisers will help "weed out bad apples," the Financial Planning Association (FPA) said after the government announced the creation of a working group to consult with stakeholders.

ASIC concerned about SMSFs, warns spruikers

LAURA MILLAN  |  THURSDAY, 17 JUL 2014
The sharp rise in promoters recommending Australians to use their self-managed super fund (SMSF) to invest in property has led the Australian Securities and Investments Commission (ASIC) to remind property developers that they need a license to operate.

Government succeeds in securing final FoFA changes

LAURA MILLAN  |  WEDNESDAY, 16 JUL 2014
The government's deal with the Palmer United Party (PUP) means that the proposed changes to the Future of Financial Advice (FoFA) legislation are set to go through.

Labor, Greens will "keep fighting" after FoFA backflip

LAURA MILLAN  |  WEDNESDAY, 16 JUL 2014
The Labor Party and the Greens met this morning to consider next steps after the Palmer United Party (PUP) and Motor Enthusiasts Senator Ricky Muir made a last-minute move to support the Future of Financial Advice (FoFA) amendments in the Senate last ...

Deal with government brings in consumer protection: Palmer

LAURA MILLAN  |  TUESDAY, 15 JUL 2014
The Coalition's deal with the Palmer United Party (PUP) to retain the amendments to the Future of Financial Advice (FoFA) legislation will provide a guarantee of consumer protection, MP Clive Palmer has said.

FoFA disallowance vote will save "millions"

ALICE URIBE  |  TUESDAY, 15 JUL 2014
The government's deal with the Palmer United Party (PUP) to retain the Future of Financial Advice (FoFA) legislation will save the financial services industry millions of dollars according the Financial Planning Association (FPA).

Senate votes against disallowing FoFA amendments

LAURA MILLAN  |  TUESDAY, 15 JUL 2014
The Labor and Greens attempt to disallow government changes to the Future of Financial Advice (FoFA) legislation failed after the Coalition was able to secure last-minute support from the Palmer United Party (PUP).

GPS Wealth approves DomaCom fractional property fund

STAFF WRITER  |  TUESDAY, 15 JUL 2014
Queensland-based dealer group GPS Wealth (GPS) has approved the DomaCom fractional property fund.

CBA unveils tougher adviser standards

LAURA MILLAN  |  MONDAY, 14 JUL 2014
In the wake of the Senate inquiry into the performance of the Australian Securities and Investments Commission (ASIC), the Commonwealth Bank (CBA) will lift the minimum education standards for its financial advisers and demand that they belong to a professional ...

Retired High Court judge to chair CBA review panel

LAURA MILLAN  |  FRIDAY, 11 JUL 2014
Retired High Court Justice Ian Calllinan will head Commonwealth Bank's (CBA) independent review panel for the Open Advice Review program that will assist victims of bad financial advice between 2003 and 2012.