On Wednesday night a couple of weeks ago the latest round in the Future of Financial Advice (FoFA) saga limped through parliament heading for who knows where. Due successful lobbying by financial institutions, plus noise from incumbent industry associations and funds,...
Do Woolworths sell advice? Do Coles sell advice? Do banks sell advice? None of these groups sell advice. They all sell products. Unfortunately when it comes to financial advice, Australia’s consumers don’t know the difference between financial advice and financial...
Brad Cooper – chief executive of Australia’s BT Financial Group (a division of Westpac Bank) provided insightful observations in the Australian Financial Review last week regarding shifts in the UK financial advice market and potential implications for our market here...
Advice professionals don’t take commissions. The latest twist in the Future of Financial Advice exposes even more what the real debate is about – trust. Not reducing red tape. ASIC reckoned a couple of years ago only 18% of Australians sought out an adviser. Last year...
I’ve been copping a bit of flack recently suggesting that fee disclosure statements (FDS) aren’t really necessary for your financial advice clients. Yes, I can understand that response considering the frenzy some firms have experienced making themselves ‘compliant’...