Future of Financial Advice (FoFA) reforms
Fee Fi Fo Fa... How will this giant reform package affect your
magic beans?
The FoFA reforms that emerged from the recent high-profile
corporate collapses represent significant changes to the financial
advice industry.
Treasury is in consultation with industry and consumer groups
over the reforms, due to be implemented from 1 July 2012. This
session is designed to provide you with an overview of the changes
and how they will impact the financial advice industry.
> GO TO PRICES AND
REGISTRATION
The key features of this session include the first and
second tranches of the draft Bill that covered a number of key
components of the FoFA reforms, including:
- operation of 'opt in' under the adviser charging regime
- the statutory best interest duty
- the increase in ASIC's powers to enforce the new elements of
these reforms
- a ban on conflicted remuneration (including product
commissions)
- a ban on volume-based shelf-space fees
- a ban on asset-based fees on geared funds.
By the end of the workshop, you will be able to:
- provide an overview of the remuneration reforms
- describe the advice reforms in detail
- recognise the new conduct and professionalism requirements
FACILITATION METHOD
This session will be offered exclusively
online. Content in the form of examples and other
practical exercises form part of each workshop. To obtain CPD
credits, a short online assessment will take place at the end of
the session.
SESSION DATES
New sessions are developed and posted online quarterly. The web
link is available for one month from the date of your confirmation
email which will include your login and password.
PRICES & REGISTRATION
AIST Member: $360 (incl.GST)
Non-AIST Members: $450 (incl.GST)
Click here to Register Online for
Quarterly Advisor Series 4
or Click here to register by Form
AIST CPD
3 hours (including assessment)
Participants may also be eligible for three Accreditation Status
Points as well as three Loyalty Reward Points. Further
information on the AIST Accreditation and Loyalty Reward Programs
may be found at www.aist.asn.au.
QA workshops are also available as part of AIST's Licensing,
Compliance and professional Development Program.