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ARTICLE · 22 MARCH 2012

Risk management for financial advisers

Colin Biggers & Paisley
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In light of the commencement of the FOFA reforms, financial advisers should review their risk management strategies.

AustraliaCorporate/Commercial Law
Ava Bentley
Ava Bentley

In brief - FOFA reforms increase importance of risk management for financial advisers

The Future of Financial Advice (FOFA) reforms developed by the Federal government aim to "improve the trust and confidence of Australian retail investors in the retail planning sector" and to "tackle conflicts of interest that have threatened the quality of financial advice" given to Australian investors.

Financial advisers should review their risk management strategies

The spotlight is on financial advisers in Australia. The Federal government's FOFA reforms are well underway, with many of the proposed reforms due to commence on 1 July 2012.

The reforms are targeted at ensuring that investors receive advice that is in their best interests, rather than advice that is based on the incentives or commissions to be gained by the adviser in return for recommending particular investment products.

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