Ongoing Service Agreements – legislation changes with the House of Representatives
The long-awaited legislation for the Royal Commission changes – including annual client consent for ongoing advice fees have been tabled in the House of Representatives. Whilst we’re waiting for its passing (and then Royal Assent by the Governor General), the key changes for Financial Advisers are effective 1 July 2021. The changes cover Client Fee Consent and Annual Fee Arrangements, as well as statements regarding independence that need to be included in FSGs.
The Masterclass at our March Professional Development Days will include a session by our Advice Coaches (Greg Dawes and Kerry Fleming) on the Ongoing Fee Arrangement Changes, focussing on what’s changing, transitioning to the new agreements, and the tools and support we’ll be providing for the transition.
We’ll let you know via facebook workplace when the legislation passes the House of Representatives. In the meantime, if you have any questions regarding ongoing service agreements, please contact the Governance team.
In this Edition:
Ongoing Service Agreements – legislation changes with the House of Representatives
The long-awaited legislation for the Royal Commission changes – including annual client consent for ongoing advice fees have been tabled in the House of Representatives. Whilst we’re waiting for its passing (and then Royal Assent by the Governor General), the key changes for Financial Advisers are effective 1 July 2021. The changes cover Client Fee Consent and Annual Fee Arrangements, as well as statements regarding independence that need to be included in FSGs.
The Masterclass at our March Professional Development Days will include a session by our Advice Coaches (Greg Dawes and Kerry Fleming) on the Ongoing Fee Arrangement Changes, focussing on what’s changing, transitioning to the new agreements, and the tools and support we’ll be providing for the transition.
We’ll let you know via facebook workplace when the legislation passes the House of Representatives. In the meantime, if you have any questions regarding ongoing service agreements, please contact the Governance team.
In this Edition: