ISN partners with funds on planner remuneration
The Industry Super Network (ISN) will be working with funds and the financial services industry to implement Future of Financial Advice (FOFA) reforms surrounding disclosure of ongoing personal advice fees.
ISN chief executive David Whiteley said transparency in disclosure of financial planner remuneration under the new reforms would assist the planning industry in transitioning to a "fully-fledged and highly respected profession".
Whiteley said the move would also help clients to make informed decisions about the advice they receive and how much they pay for it.
ISN welcomed the Australian Securities and Investments Commission's (ASIC's) guidance on compliance with the new disclosure requirements for ongoing personal advice fees.
"These measures in the FOFA reforms are filling a regulatory gap to ensure that much-needed disclosure is provided to all clients, both existing and new," he said.
ASIC had provided clear guidelines and used a facilitative approach to implementation, according to Whiteley.
"In doing so, it has addressed the practical concerns raised by retail institutions and planners in relation to applying these measures to existing and new client arrangements," he said.
AUTHOR
Staff Writer
Money Management staff writers are writers who contribute to the website from time to time. If you would like to discuss the content contained within this article please contact us.
Recommended for you
Super trustees need to be prepared for the potential that the AI rise could cause billions of assets to shift in superannuation, according to an academic from the University of Technology Sydney.
AMP’s superannuation business has returned to outflows in the third quarter of 2025 after reporting its first positive cash flow since 2017 last quarter.
The major changes to the proposed $3 million super tax legislation have been welcomed across the superannuation industry.
In holding the cash rate steady in September, the RBA has judged that policy remains restrictive even as housing and credit growth gather pace.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
215.17 3 y p.a(%)
2
Loftus Peak Global Disruption Fund Hedged
118.15 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
75.00 3 y p.a(%)
4
UBS Solactive Global Pure Gold Miners UCITS ETF Dis USD
61.11 3 y p.a(%)
5
Global X Ultra Long Nasdaq 100 Complex ETF
60.93 3 y p.a(%)
