The Managed Investment Scheme [MIS] regime is on par with the Life Insurance Framework [LIF] legislation as being the most poorly thought through cataclysmic public policy event in living memory. It is the most audacious example of self-interest where the needs and protection of Government are prioritised over those of Consumers on an industrial scale. […]
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INTRODUCTION – The Compensation Scheme of Last Resort’s [CSLR] initial concept and genesis was supported by all industry stakeholders, a pleasing outcome for the Advice Profession and Consumers at the time. Unfortunately however, the CSLR guidelines were professionally tampered with at the point of legislation in June 2023, an event that has greatly disadvantaged Consumers […]
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ASSOCIATIONS OFFER A SIGNIFICANT VALUE IN POLITICAL LOBBYING BY PROVIDING A PLATFORM FOR ORGANISED GROUPS TO REPRESENT DIVERSE INTERESTS, SHARE EXPERTISE AND INFLUENCE POLICY DECISIONS. THEY CAN AMPLIFY THE VOICES OF THEIR MEMBERS, FACILITATE COMMUNICATION WITH GOVERNMENT OFFICIALS AND CONTRIBUTE TO MORE INFORMED AND EFFECTIVE POLICY – MAKING – source: google – The value of […]
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Life insurance commission reductions to benefit consumers High upfront life insurance commissions will be reduced with the passage of the Corporations Amendment (Life Insurance Remuneration Arrangements) Bill 2016 in the House of Representatives, the Minister for Revenue and Financial Services, the Hon. Kelly O’Dwyer MP, said today. The Government thanks the Association of Financial Advisers, […]
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EXECUTIVE SUMMARY Consumers and the Advice Profession badly need the exquisite skills and experience of the former CHOICE CEO, panel member of the RAMSAY REVIEW that led directly to the establishment of the Australian Financial Complaints Authority [AFCA] and the Compensation Scheme of Last Resort [CSLR] and now ASIC Commissioner, Mr Alan Kirkland. No one […]
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The term HORNSWOGGLE and this character was used in the 1980’s Gary Coleman Show to describe a person or organisation that deceives, cheats, swindles, hoaxes or scams another person. We think this best defines what has happened to the CSLR. EXECUTIVE SUMMARY – The CSLR Legislation needs to be amended to reflect the intent of […]
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IF YOU ALWAYS DO WHAT YOU HAVE ALWAYS DONE, YOU WILL ALWAYS GET WHAT YOU HAVE ALWAYS GOT. AN OVERVIEW. The ITS TIME theme of our recent Canberra Conference for the Advice community to make an aggressive stand has arrived, the CSLR abomination is the catalyst to finally galvanise the Advice Profession. The current acrimonious […]
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We are pleased to inform members and the wider Advice Community that Shadow Luke Howarth has agreed to address 4 of the most vexatious and acrimonious issues facing the Advice profession and consumers if the Coalition wins power. These were the major focus of the recently released AIOFP’s TEN COMMANDMENTS, they are – Returning Risk […]
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The recent 99FA Legislative Opinion Paper by Mr Bernard F Quinn KC is the latest evidence that the intellectual and ethical standards in Canberra have diminished over the past 20 years. This legislation is clearly flawed but the Minister and Treasury Bureaucrat Advisers either do not understand or do not care about the integrity of […]
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Attached is arguably the best investment the AIOFP has made on behalf of its members and the wider Advice community over the past 26 years. This document has also been forwarded to the other Associations for consideration. We sought a legal opinion from Financial Services expert and Kings Counsel [KC] Bernard F Quinn on the […]
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