[Smart Investing] Why the future of advice can start sooner than later; Performance struggle; Relationship breakdown
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16 March 2012
Why the future of advice can start sooner than later
The financial planning industry gained some breathing space this week.
The Minister for Financial Services and Superannuation, Bill Shorten, announced a soft start to the new Future of Financial Advice (FOFA) regulatory regime. It means that while the start date will be from July 1 this year compliance for the first 12 months will be voluntary.
Many share investors adopt a core-satellite approach to investing in Exchange Traded Funds (ETFs).
Such investors commonly hold the core of their share portfolios in low cost ETFs tracking broad sharemarket indices and then hold smaller "satellites" of selected direct shares and actively managed share funds.
Few couples establishing a self-managed super fund probably give much thought to the possible consequences for their fund if the personal relationship later fails.
A recent Federal Court judgment relates the difficulties facing an SMSF after the commercial and personal relationship of its two members ended.
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