The prohibitive cost of opt-in

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The cost of opt-in, estimated by Treasury and revealed in Senate Estimate hearings late last month, will effectively add around $100,000 to the running costs of an ‘average’ advisory practice. This cost will have to be passed on to the consumer meaning many will be priced out of advice. Please see Hansard pp. E 120-E

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CommInsure and Tower share line honours in AFA/Plan For Life 2010 Life Company of the Year Awards

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Two insurers have shared line honours in the prestigious AFA/Plan for Life 2010 Life Company of the Year Awards (the Awards). At the Awards presentation in Sydney today, CommInsure and Tower were both named winners of the Platinum Risk Insurer of the Year Award.  CommInsure also took out the Service Quality and Investment Bond Award

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Minister Shorten: Please read the writing on the wall, lives are worth insuring

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The Association of Financial Advisers (AFA) is again calling on the Minister for Financial Services and Superannuation, Bill Shorten, to become a true advocate of the financial advice industry and focus squarely on the impact of proposed reform on consumers. Mr Klipin said that endless debate about adviser remuneration is clouding the real issues which

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Financial Advice Community United in Support of Disabled Young Women

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$10,000 grant from the financial advice community makes ‘the ultimate difference’ to two disabled young women The Association of Financial Advisers Foundation (AFA Foundation) and Future2, the foundation of the Australian financial planning profession, have pooled their resources to support the purchase of wheelchairs for Jamie-Lee and Samantha Dwyer, sisters aged 18 and 20 years,

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The Tides of Change

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Advisers optimistic in the face of reform Financial advisers have the determination and ability to adapt and grow despite ongoing industry changes, according to research released yesterday by the Association of Financial Advisers (AFA). AFA CEO Richard Klipin said that the “Tides of Change” research into adviser attitudes towards the Future of Financial Advice (FOFA)

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AFA Foundation Launches Queensland Flood Appeal

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The Association of Financial Advisers’ charitable foundation – the AFA Foundation has launched an appeal for victims of the Queensland floods. AFA Foundation Chair, Brian Boggs said, “It is truly heartbreaking to see the devastating floods sweeping throughout Queensland and Northern NSW. Our thoughts and prayers are with those and their families during this natural

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AFA calls for Collective Voice

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The Association of Financial Advisers (AFA) is calling on the profession to stand strong and united following the launch on 2 December of a powerful new group calling itself the Australian Financial Integrity Network (AusFin). AusFin counts amongst its members the Industry Super Network (ISN), Choice and the Australian Council of Trade Unions. “There is

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AFA: An advocate for consumers

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The new look Board of the Association of Financial Advisers (AFA), today confirmed the association remains fully focused on helping its members to address the very serious problems currently facing their clients including inadequate levels of retirement savings and chronic levels of underinsurance. Incoming AFA National President and former AFA GenXt leader, Brad Fox, said

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IOOF Licensees Join AFA

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The Association of Financial Advisers (AFA) today confirmed that four licensees, operating as part of Australian Wealth Management, a wholly owned subsidiary of IOOF, have joined as members of the AFA. AFA CEO Richard Klipin said the AFA is delighted to welcome Bridges Financial Services, Wealth Managers, Executive Wealth Management Financial Services and SMF Wealth

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Shorten shows he’s listening

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Bill Shorten, Assistant Treasurer and Minister for Financial Services and Superannuation has already demonstrated that he is a true advocate of the financial services industry, focused on ensuring that the interests of ordinary working Australians are best served. CEO of the Association of Financial Advisers, Richard Klipin said two of Mr Shorten’s first announcements –

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