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Financial Planning

Centrepoint spent $4.9 million in client claims

LAURA MILLAN  |  WEDNESDAY, 24 JUL 2013
Professional Investment Services (PIS) owner Centrepoint Alliance Group spent $4.9 million to cover client claims in relation to the performance of some of its advisers.

Aged care services under funded and set to worsen

LAURA MILLAN  |  WEDNESDAY, 24 JUL 2013
Aged care services in Australia are under funded and overcrowded at a moment when ageing population and social changes require a stronger system.

Scaled advice to shape industry future

LAURA MILLAN  |  TUESDAY, 23 JUL 2013
The Future of Financial Advice (FoFA) reforms will bring an increase of demand for scaled advice over the long term and the cost of advice will go down, Rice Warner research commissioned by Industry Super Network (ISN) found.

ASIC freezes defendants' assets in Wickham case

LAURA MILLAN  |  MONDAY, 22 JUL 2013
The Australian Securities and Investments Commission (ASIC) has obtained orders to freeze the assets of the 15 defendants in the legal proceedings against Wickham Securities executives.

Grandfathering uncertainty already affecting businesses

LAURA MILLAN  |  MONDAY, 22 JUL 2013
Dealer groups are already feeling the consequences of the uncertainty around the grandfathering provisions within the new Future of Financial Advice (FoFA) regulations with planners hesitant to change licensees until the legislation is clearer.

FPA outlines concerns on TASA submission to Treasury

LAURA MILLAN  |  MONDAY, 22 JUL 2013
More clarification over the definition of 'tax advice' and requirements for training is needed in the amendments to the Tax Agent Services Act (TASA) 2009 the Financial Planning Association (FPA ) said in a submission to Treasury.

Submissions open to FPA Best Practice Awards

LAURA MILLAN  |  MONDAY, 22 JUL 2013
The Financial Planning Association (FPA) has opened submissions to the Best Practice Awards and the FPA Honorary Awards.

AFA to welcome "first timers" in 2013 conference

LAURA MILLAN  |  MONDAY, 22 JUL 2013
The Association of Financial Advisers (AFA) is ready to welcome new delegates at its 2013 Conference in October with an event specifically designed to help them.

FPA wants schools to teach financial literacy

LAURA MILLAN  |  FRIDAY, 19 JUL 2013
Financial literacy should be taught in schools in order to improve Australian's knowledge of finance issues, the Financial Planning Association (FPA) has proposed.

Numbers don't add up at McDonald's financial planning

LAURA MILLAN  |  FRIDAY, 19 JUL 2013
McDonald's US-based initiative to set up a financial planning unit for its workforce has prompted harsh criticism for its assumption that its low-paid workers can't live on the minimum wage income that they are paid.