Financial Advice more accessible and affordable with FoFA reforms

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The Financial Services Council commends the Senate for supporting the amendments to the Future of Financial Advice laws yesterday. “With the critical support of cross bench Senators, the Government’s amendments to FoFA have withstood an attempt to have them disallowed today”, FSC CEO John Brogden said. “With the support of the Palmer United Party, Family […]

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FSC Statement on 2014 Federal Budget

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The 2014-15 Commonwealth Budget will make a substantial contribution to restoring long term budget sustainability according to the Financial Services Council. John Brogden, CEO of the Financial Services Council said: “The budget will control spending and secure growth. It’s also the first budget in years where superannuation has not been the target of tinkering.” “Raising […]

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FSC Annual Life Insurance Conference 2014 − Sustainability and consumers are at the heart of life industry changes

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Sustainability and increased consumerism are at the heart of the changes taking place in the life insurance industry, John Brogden CEO of the Financial Services Council said yesterday. “The FSC is taking a lead in how the industry is responding to these issues,” Mr Brogden told delegates at the opening of the fifth annual FSC […]

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2014 FSC Annual Life Insurance Awards: and the winners are…

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Winners of the Financial Services Council’s prestigious Life Insurance Awards for 2014 − proudly sponsored by the BT Financial Group − were announced at a black tie function at the Sofitel hotel in Sydney last night.   Now in their second year, the FSC Life Insurance Awards are presented to individuals and organisations in recognition […]

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FSC slams Fair Work Commission involvement in MySuper

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The Financial Services Council briefed government and Treasury yesterday on the excessive costs associated with the Fair Work Commission process for selecting MySuper default funds and is calling for the end of the FWC’s role in selecting superannuation funds in Modern Awards. John Brogden, CEO of the Financial Services Council said: “Australia’s superannuation industry is […]

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Time to assess the age pension eligibility

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FSC 2014-15 Federal Budget Submission The Financial Services Council has called on the government to consider whether the income and asset tests for the Age Pension are too generous and whether the long term cost of the pension is sustainable. It is 2014-15 Federal Budget submission, the FSC says it is concerned that the stability […]

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Private disability insurance can relieve the public purse

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Life insurance can play a major role in reducing government welfare expenditure on the Disability Support Pension (DSP) and National Disability Insurance Scheme (NDIS) according to the Financial Services Council. In its pre-budget submission to the Federal Government, the FSC says it is timely to consider whether the costs of the DSP and NDIS could […]

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FSC welcomes clarity on outstanding tax and superannuation measures

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“The government’s announcement on the backlog of unlegislated tax and superannuation measures provides long overdue certainty to the Financial Services industry,” Financial Services Council CEO John Brogden said today. Mr Brogden’s comments follow a statement released by the Assistant Treasurer, Senator the Hon Arthur Sinodinos AO, yesterday (Saturday) which detailed the status of the remaining […]

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Asia Pacific is Australia’s biggest source of investment fund flows

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Australian Investment Managers Cross-Border Flows Report 2013 The Asia Pacific region continues to be the biggest source of investment into Australian managed funds, according to the second annual Australian Investment Managers Cross-Border Flows Report, released yesterday by the Financial Services Council and The Trust Company. The FSC-Trust Company report shows that Asia accounts for 66 per cent […]

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FSC calls on Commission of Audit to recommend raising the preservation age

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The Financial Services Council will be calling on the Commission of Audit to recommend raising the preservation age for superannuation to relieve the increasing strain on the economy as the Australian population ages. “The Commission of Audit is the right vehicle for considering changes to the preservation age and the Productivity Commission’s recommendations on dealing […]

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