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Financial Planning

SFG growth not affected by FoFA changes

LAURA MILLAN  |  TUESDAY, 25 FEB 2014
SFG Australia has reported a strong half year result, which it says was not affected by the implementation costs of the Future of Financial Advice (FoFA) regulation.

GenYs shy away from independent, professional advice

LAURA MILLAN  |  MONDAY, 24 FEB 2014
Young Australians rely mostly on family, friends and banks for financial advice, while accountants and financial advisers are out of favour, RaboDirect research has found.

Ripoll demands parliamentary debate for FoFA reforms

ALICE URIBE  |  FRIDAY, 21 FEB 2014
Shadow Financial Services and Superannuation Minister Bernie Ripoll has called for a full parliamentary debate for the government's proposed Future of Financial Advice (FoFA) reforms.

S&P DJI eyes aligned advice groups with new role

JAMES FERNYHOUGH  |  FRIDAY, 21 FEB 2014
S&P Dow Jones Indices (SPDJI) is recruiting for a role as part of a move to tap into the aligned financial advice dealer groups with its exchange-traded fund (ETF) indices.

FPA "extremely wary" of general advice commissions

LAURA MILLAN  |  FRIDAY, 21 FEB 2014
The Financial Planning Association (FPA) submission to Treasury on the proposed amendments to the Future of Financial Advice (FoFA) says the organisation is "extremely wary of product distribution models which rely on general advice."

General advice exemption "irrelevant" to advisers: AFA

LAURA MILLAN  |  FRIDAY, 21 FEB 2014
The Association of Financial Advisers (AFA) has judged the general advice exemption to conflicted remuneration "irrelevant" in its submission to Treasury about the proposed amendments to the Future of Financial Advice (FoFA).

FoFA changes go too far diluting conflicted rem: ISA

LAURA MILLAN  |  FRIDAY, 21 FEB 2014
Industry Super Australia (ISA) has argued to a Senate committee that the proposed amendments to the Future of Financial Advice (FoFA) "go too far by diluting both the conflicted remuneration prohibition and the best interests duty."

ASIC could implement immediate suspension of advisers

STAFF WRITER  |  THURSDAY, 20 FEB 2014
The Australian Securities and Investments Commission (ASIC) could implement the immediate suspension of "bad-apple" advisers if it had powers to do it.

Sinodinos rules out LRBA review for SMSFs

ALICE URIBE  |  WEDNESDAY, 19 FEB 2014
Assistant Treasurer Arthur Sinodinos has ruled out a full review into limited recourse borrowing arrangements (LRBAs), but emphasised that licensing is necessary.

FPA puts TASA back in the agenda

LAURA MILLAN  |  WEDNESDAY, 19 FEB 2014
The Financial Planning Association (FPA) is putting the Tax Agent Services Act (TASA) 2009 back on the advisers' agenda ahead of the implementation in July 1, 2014.