Showing Tag: "financial advice" (Show all posts)

Opt In is Poor Policy

Posted by Naomi Rosenthal on Thursday, September 22, 2011, In : General

The financial services industry seems to be subjected to reforms every time there is a recession, as though the bad apples will be thrown out of the box with every new piece of legislation.
The Assistant Treasurer and Minister for Financial Services and Superannuation Bill Shorten said, "It is a concern that only one in five Australians access financial advice. These reforms will also remove the red tape that has prevented low-cost, good quality advice being delivered to millions of Australian...
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Future of Financial Advice or its destruction?

Posted by Naomi Rosenthal on Thursday, April 28, 2011, In : General

I'd like to really tell you what the 'F' stands for in FOFA (Future of Financial Advice) reforms. But that's not professional. It's taken a year of debate around reforms intended to "ensure more Australians have access to high quality and affordable advice", yet the latest round of adjustments seem to move further away from the commendable original intent.
AFA CEO, Richard Klipin said, “the FOFA rhetoric has not been matched with strategy and consumers have been hung out to dry.”
How so? I...
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Financial Advising vs Personal Training

Posted by Naomi Rosenthal on Thursday, March 17, 2011, In : Financial Planning

I was walking through my local park the other day. It has a number of areas for fitness training and most of them were being used by people receiving guidance from a personal trainer. The trainer was instructing them on how to do the exercise for maximum results and giving them encouragement to keep going.

When you first go to a personal trainer, they ask you all sorts of questions. How fit are you? What do you eat? How often do you currently exercise? What kinds of exercise do you do? What ...

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