AIOFP. 6 Interesting issues you should be aware of.

1. It has been widely speculated and hinted at by ASIC last year that they will be releasing a white paper on Managed Accounts focussing on Advisers having suitable asset allocation skills and receiving conflicted revenue. There should be an amnesty period for the non-compliant, this will now be a major issue at the Bali Conference with which structures/strategies will comply.
2. The retail Platforms are trying to get other product manufacturers to conform with their attitude/bullying towards Financial Advisers, some have contacted us seeking our views. We suggested that supporting Advisers will be more productive than conforming with the enemies of Advisers.
3. Attached is the AIOFP MIS Submission to Treasury that suggests a relatively simple approach will greatly improve Consumer and Adviser protection.

A typical Government reaction to past product failures has been to create more compliance, we disagree with that position, criminal minds will always get around paperwork. Considering ASIC collects over $340m annually via the ASIC ADVISER LEVY, some of that should be used to be proactive with preventing product failure/fraud in the first place, not just being reactive to it.

4. The BALI CONFERENCE EARLY BIRD discounts terminates next week!
5. We expect the DD on the 3 White Label options will be completed by mid March.
6. The webinar dates for the NEXT RURAL Succession Planning update will be announced by the end of next week.