The Federal Government has re-affirmed its intention to ban commissions from 1 July 2012, but debate continues as to whether this ban will extend to risk commissions.
Category: Compliance & Regulation
New FPA ‘Future of Financial Advice’ Taskforce
June 18, 2010 – 7:45 am
The Financial Planning Association (FPA) has announced the establishment of a new taskforce designed to engage with the Federal Treasury on all elements of the Government’s Future of Financial Advice reform proposals.
Reforms Impacting Adviser Confidence
June 15, 2010 – 5:57 pm
A levelling off in share market returns, combined with the Government’s proposed changes for adviser remuneration appear to have dented confidence in the financial planning industry, according to latest data released by Wealth Insights.
Licensee Forum Gives Voice to Adviser Concerns
June 14, 2010 – 10:59 am
The AFA’s recently-formed AFA Licensee Leadership Forum held its third meeting at the end of last week, where it met with representatives from the Federal Treasury.
The meeting with the Licensee Leadership Forum is part of the Government’s industry consultation process, which will see it consult with a range of industry interest groups regarding its proposed Future of Financial Advice reforms package.
Final Word on Conflict of Interest - Send Your Message to Canberra
June 8, 2010 – 9:30 pm
We have extended our latest poll for one final week due to strong interest by financial advisers wanting to have their say on this issue.
To re-cap, our poll question is:
Confusion Over Timing of Adviser Charging Regime
June 8, 2010 – 4:00 pm
Confusion reigns over the timing of the introduction of the Government’s Adviser Charging Regime, a key plank in its Future of Financial Advice reform initiatives, which will require clients to opt in to an annual adviser fee renewal.
Fewer Planners, Dealer Groups After 2012 - Survey
June 2, 2010 – 10:58 am
Many advisers believe their numbers will reduce considerably after commissions are banned in 2012, according to findings by Investment Trends.
‘Don’t Panic’ - Message to Advisers
June 2, 2010 – 10:13 am
The Association of Financial Advisers is asking its members not to panic in the wake of the Future of Financial Advice (FFA) reform package announced by the Government on April 26.
Following a round of meetings in Canberra with Treasury, Government and Opposition officials and representatives, the AFA has said it is ‘… cautiously optimistic that the future for financial advisers, while challenging, looks bright’.
No Conflict in Risk Commissions
June 1, 2010 – 11:19 pm
The vast majority of advisers say the payment of commissions for risk advice represents no conflict of interest to the consumer.
Adviser Backlash on Banning Risk Commissions
May 25, 2010 – 4:31 pm
Financial advisers have been highly critical of the move to consider banning risk insurance commissions, but the issue of conflict of interest remains.
