Demand for professional financial advice is up, but Australians expect to pay less for planner services, according to new research released by Investment Trends.
Category: Remuneration
Insurance Guidelines For MySuper Announced
April 30, 2012 – 8:17 am
The latest tranche of MySuper legislation, which focuses on insurance and intra-fund advice, has been issued for consultation.
Majority of Advisers Object to FSC Churn Policy
April 4, 2012 – 10:15 am
Most advisers object to the prospect of being paid level commission only for replacement policies.
In response to our poll on the FSC’s proposed churning policy (see FSC Churning Announcement…), seven in ten advisers answered ‘no’ to our question:
Do you support the FSC’s latest policy proposal that advisers moving existing clients from one insurer to another within a five-year period will only be eligible for level commission?
Churning Debate - Your Say
March 27, 2012 – 9:43 pm
In response to the Financial Services Council’s major churning announcement last week, our latest poll provides you with an opportunity to have your say on the churning debate, as we ask:
FoFA Bills Passed After Fiery Debate
March 23, 2012 – 8:28 am
The Future of Financial Advice (FoFA) Bills have been passed by the House of Representatives after more than two hours of heated debate between the Government and Opposition last night.
FSC Churning Announcement - 5-Year Upfront Commission Restriction
March 22, 2012 – 9:17 am
In its latest move to address churning, the Financial Services Council (FSC) has proposed a restriction on upfront commissions payable on replacement business.
FoFA Parliamentary Debate Commences
March 21, 2012 – 9:42 am
The Coalition has called for the Government to issue a revised Regulatory Impact Statement as Parliament begins to debate the Future of Financial Advice (FoFA) Bills.
Advisers Divided on Moving More Risk Outside Super
March 18, 2012 – 7:27 pm
Our latest poll results tell us that advisers are divided as to whether they will direct more life insurance business outside superannuation, post FoFA, in order to access commission-based remuneration.
Churning Unlikely to be Legislated
March 14, 2012 – 10:06 am
The issue of churning is likely to be managed through self-regulation, not legislation, according to a number of industry sources.
Risk Commissions - Best Interest and Conflict of Interest
March 13, 2012 – 8:35 pm
Our latest poll is based around the recommendation that ASIC should conduct a shadow shopping survey, post the implementation of the Future of Financial Advice (FoFA) reforms, to monitor whether conflicted advice on risk insurance outside superannuation will be delivered to consumers.
