Financial advice revamp: by the Shorten curlies
On 28 April 2011, the Assistant Treasurer and Minister of Superannuation, Bill Shorten made a brave and revolutionary announcement: he struck at the heart of the financial services industry money-making machine — by banning commissions and volume-based payments.
THE SOAPBOX EXCLUSIVE: How to spot an independent adviser
In this exclusive article, the president of the Independent Financial Advisers Association of Australia Limited (IFAAA), Daniel Brammall, shares his tips on how to spot an independent adviser, and also how to spot an adviser who is NOT independent.
THE SOAPBOX: Not the time to quibble (financial advice)
I want to give you the heads up on what significant players in the financial advisory industry are now trying to do, to further compromise the quality of financial advice.
THE SOAPBOX: Financial advice – Can the Gang of 18 change your super world?
On 24 November 2010, Bill Shorten, the Assistant Treasurer and Minister for Financial Services and Superannuation, announced the 18 members of the newly-formed Financial Advice Advisory Panel. The panel members are expected to improve the quality of financial advice that you receive, and basically keep the financial advice industry honest.
Financial advice: Government bans new adviser commissions from 2012
We’re going to look back at this time with disbelief: for so many years the financial services industry was permitted to flog products that weren’t necessarily in the best interests of clients/investors and pretend that this product selling was ‘financial advice’.
Expectation gap: Client vs Adviser (comments from readers)
Readers have their say about what they are seeking in a financial adviser, and in doing so generate a very interesting debate that highlights a potential expectation gap between client and adviser.