Weekly Wrap: Santa is coming to town
Like all Xmas presents, there are some you want and some you can do without. Under the tree for advisers this year is a new bill before Parliament regulating advisers, plus a brand new set of disclosure rules to play with in three months time.
Good Returns is working hard to keep you up to speed with these developments and we have a few sneaky peeks at both presents on the site this week.
Advisers, being people with an interest in amassing rather than dispersing money, may be pained to see that officials reckon it will cost between $1,000 and $5,000 to belong to an APB. On top of this advisers will no doubt be urged to join an association as well.
This means a significant hike in professional costs for advisers.
We reported on the state of the Institute of Financial Advisers accounts during the week and with another year of losses it will be fascinating to see what happens here. One could assume that to get back into the black the association will have to again increase its fees?
The state of the IFA's accounts induced a Blog.
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Disclosure and disclosure I do have to express my surprise again at the IFA's annual results and its apparent lack of disclosure to members. [more]
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