{"id":7661,"date":"2010-09-08T09:15:12","date_gmt":"2010-09-07T23:15:12","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=7661"},"modified":"2020-02-06T08:11:56","modified_gmt":"2020-02-05T21:11:56","slug":"impact-of-labor-government-policies-on-advice-practices","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2010\/09\/08\/impact-of-labor-government-policies-on-advice-practices\/","title":{"rendered":"Impact of Labor Government Policies on Advice Practices"},"content":{"rendered":"<p style=\"text-align: center\"><a href=\"https:\/\/riskinfo.com.au\/polls\/impact-of-the-return-of-the-labor-government-on-the-value-of-an-advice-practice\" target=\"_self\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-1228         aligncenter\" style=\"border: 0px\" src=\"https:\/\/riskinfo.com.au\/news\/files\/2009\/05\/vote-now.jpg\" alt=\"Vote Now!\" width=\"108\" height=\"47\" \/><\/a><\/p>\n<p>During the recent Federal election campaign, our poll revealed the vast majority of financial advisers would prefer to see the\u00a0Coalition form government.<\/p>\n<p>But with the return of the Labor Government finally confirmed, our poll question this week is:<\/p>\n<p><!--more--><\/p>\n<p><strong><em>To what extent will the return of the Labor Government impact the future value of your advice practice?<\/em><\/strong><\/p>\n<p>Given 88% of the\u00a0hundreds of\u00a0advisers who took part in our poll\u00a0said they preferred a Coalition government, does this translate into advisers believing the value of their practice will diminish as\u00a0Labor&#8217;s Future of Financial Advice (FoFA) reform proposals\u00a0take effect?\u00a0 Or was it more a view that the value of\u00a0their advice practice would have a better prospect for growth under a Coalition\u00a0Government?<\/p>\n<p>\u00a0The banning of commissions for investment and superannuation advice is on track to be implemented from 1 July 2012.\u00a0 Will this have a positive, neutral or negative impact on the value of your advice practice?<\/p>\n<p>There are also the\u00a0other key FoFA reform and Cooper Review\u00a0proposals such as clients having the ability to &#8216;opt in&#8217; to future advice,\u00a0the enshrinement of an adviser&#8217;s &#8216;fiduciary duty&#8217; into law and the banning of all commissions from the superannuation sector.<\/p>\n<p>Whatever your view, we\u00a0will be sending the results of this poll, and your comments, to the Federal Treasury as part of the Government&#8217;s industry consultation process.<\/p>\n<p>The following extract is a response to riskinfo from the\u00a0Treasury after we provided it with your responses to\u00a0our\u00a0recent poll on whether payment of commissions on risk products represented a conflict of interest to the consumer:<\/p>\n<p><em>&#8220;Thank you very much for providing us with a document capturing the views of so many stakeholders in respect to commissions and life insurance&#8230;We will be looking at this issue in greater detail next year &#8211; this information provides a good grounding in preparation for that.&#8221;<\/em><\/p>\n<p>As we have previously said, <span style=\"text-decoration: underline\">now<\/span> is the time to have your voice heard.\u00a0 Tell\u00a0us what you think and we\u00a0will\u00a0make sure your opinions are\u00a0included in the industry consultation process&#8230;<\/p>\n<p style=\"text-align: center\"><a href=\"https:\/\/riskinfo.com.au\/polls\/impact-of-the-return-of-the-labor-government-on-the-value-of-an-advice-practice\" target=\"_self\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-1228         aligncenter\" style=\"border: 0px\" src=\"https:\/\/riskinfo.com.au\/news\/files\/2009\/05\/vote-now.jpg\" alt=\"Vote Now!\" width=\"108\" height=\"47\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>During the recent Federal election campaign, our poll revealed the vast majority of financial advisers would prefer to see the\u00a0Coalition form government. But with the return of the Labor Government finally confirmed, our poll question this week is:<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,49,270],"tags":[],"class_list":["post-7661","post","type-post","status-publish","format-standard","category-compliance-regulation","category-polls","category-remuneration"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/7661","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=7661"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/7661\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=7661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=7661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=7661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}