The future of financial advice and MySuper
Date
2012
Authors
Bateman, H.
Kingston, G.
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Advisors
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Journal article
Citation
JASSA, 2012; (3):49-53
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Abstract
This paper summarises and appraises federal legislation passed in 2012 under the headings of The Future of Financial Advice (FoFA) and MySuper. FoFA reforms, which follow a review of the industry by a Joint Parliamentary Committee, aim to improve financial advice and seek to ban conflicted advice. MySuper reforms, based on recommendations made by the Cooper Review, aim to address a lack of engagement with superannuation by 60 per cent of workers and to ensure that default superannuation accounts are simple, comparable and affordable.
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Copyright 2012 Financial Services Institute of Australasia