The cascade of woes that have befallen former NFL players has stunned fans and casual observers. Former NFL stars Junior Seau and Dave Duerson committed suicide. All-pro Warren Sapp went bankrupt after…
There’s no doubt incentives matter for financial advisers. If an employer pays a higher commission to an adviser for selling one product instead of another, it’s likely the commission-linked product will…
After a lot of un-edifying debate about particular proposals about financial advice we can now stand back and look at the sector with more calm. The fundamental problem is that it is very hard to give…
It is not difficult to establish the case for the importance of financial advice. With an ageing population, increasing longevity, higher expectations of post retirement living standards, the complexity…
The Federal Government has confirmed it will push ahead with controversial moves to water down the Future of Financial Advice (FoFA) law reforms, on the grounds the current legislation reduces the affordability…
Following last week’s public hearing, the Senate Economics Legislation Committee is preparing to report on its inquiry into a government bill that would significantly water down the Future of Financial…
Finance Minister Mathias Cormann’s decision to back away from plans to repeal sections of the Future of Financial Advice (FOFA) reforms is not surprising. Recent comments suggest this may indeed be a complete…
One of the main arguments made by Australia’s banks for the watering down of Future of Financial Advice (FoFA) reforms is that it would reduce the cost of financial advice to consumers. Specifically, the…
The Australian Securities and Investments Commission has called for more powers, including a broadening of the definition of “whistleblower”, in a paper defending its role as the corporate watchdog. ASIC’s…