The major banks and insurance companies are now reeling in the wake of the Royal Commission, a saga that exposed a culture of self-interest and deceit. The public is outraged at how an irresponsible and out of control banking industry covertly went about its business, apparently at the expense of its clients.
IFAAA to professionalise and change its name MEDIA RELEASE 1 December 2017 The Independent Financial Advisers Association of Australia (IFAAA) today announces its intention to become a profession by submitting an application to the Professional Standards Councils (PSC) for an Occupational Scheme, under the Professional Standards Act 2004. This means,...
The Abbott Government's changes to financial advice laws get the Dickens treatment, as Scrooge is visited by the Ghosts of Financial Advice Past, Present and Future for an End of Financial Year Carol....
INDEPENDENCE IS THE TICKET TO THE DANCE Last month Australia’s largest accounting group, the Certified Practicing Accountants (“CPA”) launched a financial planning solution for its members – CPA Australia Advice Pty Ltd. It will essentially offer a licencing solution for its members who want to offer...
PUTTING FIRST THINGS FIRST In the wake of the Commonwealth Bank saga both government and industry are making the same noises they've been making for nearly two decades now, only louder. It's time for a different approach. US President Dwight Eisenhower said "what is important is seldom...
GREENS BACK INDEPENDENT ADVICE Greens Senator Peter Whish-Wilson has issued a strong endorsement of the independent financial advice sector, musing about a future industry dominated by non-aligned players. Rising to speak in support of Labor's failed attempt to disallow the government's FOFA amendments last week, Senator Whish-Wilson...
HOW TO FIND TRUSTWORTHY FINANCIAL ADVICE It's been a rough time for the financial planning industry of late. Between the Commonwealth Bank scandal, which saw customers lose their life savings at the hands of unscrupulous advisers, and the government watering down consumer protections, the idea of entrusting...
IFAAA WELCOMES CPA AUSTRALIA TO THE FRATERNITY OF INDEPENDENT FINANCIAL ADVISERS IFAAA Media Release IFAAA welcomes CPA Australia to the fraternity of Independent Financial Advisers The Independent Financial Advisers Association of Australia (IFAAA) has today applauded CPA Australia’s new initiative, CPA Australia Advice. The IFAAA believes that CPA’s...
IFAAA NATIONAL SYMPOSIUM 2016 THE ROAD TO PROFESSIONALISM Friday, 28th October 2016 The Road To Professionalism There are vast mindset differences between financial advisers who call themselves professional … and those who the public, the media and the law regard as professional. The outdated financial planners’ transaction-centric business model actually...