There are two ways you can go when seeking financial advice; get comprehensive advice or limited advice. Distinguishing between the two is straight-forward. Comprehensive advice is advice for all aspects of your financial position. Limited advice is where the scope of advice is restricted to predetermined areas of your financial position, such as superannuation, insurance, […]
It’s now been nearly 3 years since the Government first announced its Future of Financial Advice (FoFA) reforms in April 2010. Since this time there has been much discussion and debate over the proposed changes and this has led to various amendments and plenty of fine-tuning. However, the reforms (albeit, significantly revised) have now been […]
The Accounting Professional and Ethical Standards Board (APESB) recently proposed a new standard applying to accountants who are also licensed and qualified to provide financial advisory services. The standard, known as APES 230, will apply to accountants who are members of the three main Accounting Bodies; the Institute of Chartered Accountants of Australia (ICAA), CPA […]
Financial Planning Week is an annual campaign run by the Financial Planning Association of Australia (FPA) to promote financial advice in the community. As part of the campaign, the FPA will again be offering ‘Ask an Expert’; an online question and answer service to give Australians an insight into how financial planning can benefit them. […]
The Future of Financial Advice (FOFA) reforms, originally proposed by the government on 26 April 2010, were made law last week. The reforms take effect from 1 July 2012 but there will be a one year transition period before all financial planners must abide by them (i.e. from 1 July 2013). Furthermore, the reforms were […]
Being diagnosed with a terminal illness is one of the most traumatic events you could ever go through. In many cases it’s also completely unexpected, so with the exception of existing insurance policies such as income protection, life insurance and trauma cover, you won’t have planned for it. Obtaining financial advice during this difficult, emotionally-challenging […]
Meeting with new clients is always an interesting experience. Getting to know new people and their situation is arguably the most important step of the financial planning process. It’s during this time that a financial planner develops an intimate understanding that goes far beyond the clients’ financial situation. For instance, a person’s needs, concerns, personal […]
Finding someone you can trust is arguably the biggest challenge when looking for financial advice. Not only that, it’s vitally important. Think about what you’re actually needing when you engage the services of a financial planner. You’re needing someone to give you advice about one of the most personal, sensitive and emotional aspects in your […]
