Dear Members, You may recall we assisted a fellow member with an AFCA issue where a client had NOT lost any money but because their direct share portfolio had 2 investments they were not happy with, one 12% of their portfolio lost $15.00, the other 4% of the portfolio lost 50% of its value or […]
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The AIOFP has once again taken aim at the Quality of Advice Review. The Association of Independently Owned Financial Professionals’ (AIOFP) executive director, Peter Johnston, said that “all issues seem to be contingent on eliminating the best interests duty and replacing it with the best advice concept”. In the QAR consultation paper, the review lead […]
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For the first time in 9 brutal years of assaults from the former Coalition Government, the current political narrative is all about finding the right combination of change without any new negative legislative attacks on the Advice community. The advice community is of course relieved, but unfortunately it may not last, we are concerned with […]
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The Association of Independently Owned Financial Professionals (AIOFP) has put forward a number of recommendations to fix the life insurance industry. AIOFP executive director Peter Johnston has presented measures that the association believes would repair the damage wrought by the Life Insurance Framework. “We are currently witnessing the demise of the once almighty life insurance […]
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The AIOFP has penned an open letter to Michelle Levy. The Association of Independently Owned Financial Professionals (AIOFP) has addressed an open letter to Quality of Advice Review (QAR) lead Michelle Levy arguing against the return of banks to financial advice. To underpin its argument that banks should remain at arm’s length, the AIOFP attached […]
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AIOFP SUBMISSION – September 2022 The Association of Independently Owned Financial Professionals (AIOFP) welcomes the opportunity to respond to the ‘Proposals for Reform’ in the Quality of Advice Review (QAR) consultation paper. It is significant to the AIOFP that Ms Levy recognizes and affirms positively that changes should be made to the regulatory framework to […]
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AIOFP Response Dear Minister, The Association of Independently Owned Financial Professionals (AIOFP) welcomes the opportunity to provide to Treasury and the Minister commentary on the proposals relating to the education standards of financial advisers. The AIOFP membership includes self-employed Advisers, employee Advisers, Self-Licenced advisers and mid to large AFSL’s who are non- institutionally aligned. The […]
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The Association of Independently Owned Financial Professionals [AIOFP] is a not-for-profit Association formed in 1998 to act in the best interests of its Financial Adviser [Adviser] members. Inextricably linked to Advisers’ legal and ethical obligations is that they must act in the best interests of their clients. This relationship places positive consumer outcomes firmly within […]
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