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Financial Planning

AIOFP members to undertake compliance review

LAURA MILLAN  |  TUESDAY, 12 NOV 2013
Members of the Association of Independently Owned Financial Professionals (AIOFP) will be undertaking compliance reviews under a new partnership with two service providers.

Costs of new SMSF regulation expected to be "minimal"

LAURA MILLAN  |  MONDAY, 11 NOV 2013
The Australian Securities and Investments Commission (ASIC) expects that the industry will implement the new self-managed super funds (SMSF) proposals "with minimal cost and disruption."

Advice insto ownership steps up post GFC

ALEX DUNNIN  |  MONDAY, 11 NOV 2013
One-quarter of financial advisers are in licensees that have changed ownership since the GFC and 80% of affected advisers have gone into advice groups owned by the big six bancassurance groups, reveals the 2013 Rainmaker Financial Planning Report.

Internet chosen ahead of professionals for advice

MARK SMITH  |  MONDAY, 11 NOV 2013
When Australians are thinking of changing one of their financial products, they look to virtually all other sources of information before enlisting the help of a professional adviser, according to new research from life insurer TAL.

Government to amend FoFA by the end of year

LAURA MILLAN  |  FRIDAY, 8 NOV 2013
The Coalition government will amend the Future of Financial Advice (FoFA) regulation before the end of the year and will draft it into legislation by early February 2014.

Customers accuse NAB of "predatory lending" in Senate inquiry

LAURA MILLAN  |  FRIDAY, 8 NOV 2013
The National Australia Bank (NAB) does not intend to make a submission to the Senate inquiry into the performance of the Australian Securities and Investment Commissions (ASIC) despite customer submissions accusing the bank of "predatory lending."

HUB24 inks deal with Premium

STAFF WRITER  |  THURSDAY, 7 NOV 2013
HUB24 has inked a deal to administer a new white label investment and superannuation wrap offering for boutique financial advisory group Premium Wealth Management (Premium).

Cap scrap leaves tax abuses unanswered

LAURA MILLAN  |  THURSDAY, 7 NOV 2013
The financial services industry has welcomed the removal of the self-education expense deductions, but the measure leaves concerns about taxpayers' abuse of the system unanswered.

ASIC didn't take my claims seriously: whistleblower

LAURA MILLAN  |  THURSDAY, 7 NOV 2013
Whistleblower and business partner of now banned Lifestyle Trader director Aussie Rob has accused the Australian Securities and Investments Commission (ASIC) of not taking his claims seriously.

Government removes self-education cap

LAURA MILLAN  |  WEDNESDAY, 6 NOV 2013
The Coalition government has removed the cap on tax deductibility of self-education expenses introduced by the Labor government in July.