Showing Tag: "fofa" (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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