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Financial Planning

Baby boomers account for four in five dollars under advice

MARK SMITH  |  TUESDAY, 27 MAY 2014
Over 55s now account for two-thirds of all financial planning clients, and four out of every five dollars under advice, the latest report from researcher Investment Trends shows.

Banks support the "original" FoFA intent: ABA

LAURA MILLAN  |  MONDAY, 26 MAY 2014
The Australian Bankers' Association (ABA) said that the industry supports the original Future of Financial Advice (FoFA) legislation, which focused largely on consumer protection.

FPA reveals 10 point plan to improve advice

LAURA MILLAN  |  FRIDAY, 23 MAY 2014
The Financial Planning Association (FPA) has unveiled 10 key points to raise the standards of financial advice.

Intra-fund advice is also a commission: FSC

LAURA MILLAN  |  FRIDAY, 23 MAY 2014
The Financial Services Council (FSC) said that asking for a ban of commissions on general advice is "hypocritical" when intra fund advice itself is "non-transparent."

FPA and AFA unite: stop commissions on general advice

LAURA MILLAN  |  THURSDAY, 22 MAY 2014
The two advice bodies have asked for a complete removal of commissions on general advice during their appearance at the Senate hearing about the Future of Financial Advice (FoFA).

FSC serves boutique with 'surprise' exit fee

JAMES FERNYHOUGH  |  THURSDAY, 22 MAY 2014
The Financial Services Council (FSC) has gone to the courts to force UCA Funds Management (UCA) to pay an $8,000 'resignation fee', a charge the fund claims it knew nothing about.

FoFA changes to cost consumers millions

JAMES FERNYHOUGH  |  THURSDAY, 22 MAY 2014
Consumers could be $530 million a year worse off as a result of the proposed amendments to the Future of Financial Advice (FoFA) reforms, a report has found.

PROFILE: netwealth head of advice Simon Micallef

LAURA MILLAN  |  WEDNESDAY, 21 MAY 2014
Business and soccer have been parallel careers for netwealth head of advice Simon Micallef, and he has been moving swimmingly from one to another. But despite his love of the world game, he admits to Laura Millan that Australia will get its financial ...

BT to manage $1.2 billion for People's Choice

LAURA MILLAN  |  TUESDAY, 20 MAY 2014
BT will manage $1.2 billion in funds under advice from member-owned financial institution People's Choice Credit Union.

YBR acquires mortgage aggregator for $17.6 million

ALICE URIBE  |  MONDAY, 19 MAY 2014
Wealth management firm Yellow Brick Road (YBR) has received irrevocable acceptance from all 24 shareholders in Vow Financial Holdings for its offer to acquire 100% of the mortgage aggregator.