28 September 2011 – Assistant Treasurer and Minister for Financial Services and Superannuation, Bill Shorten, released the second tranche of draft legislation of the Future of Financial Advice (FoFA) reforms for public consultation.

I recently renewed my car insurance and a slight change in postcode meant my premiums went up. This is possibly because my new postcode has a higher crime rate. It also got me wondering whether this is partly because there are just more people squashed into my new suburb and I’m therefore more likely to bang into someone else.

With all the talk about the Future of Financial Advice (FoFA) reforms; increasing business costs, reducing risk insurance sales and seasoned advisers leaving the industry, it’s no wonder that people are starting to question the impact FoFA will have on the value of financial planning businesses.

With all the talk about the Future of Financial Advice (FoFA) reforms; increasing business costs, reducing risk insurance sales and seasoned advisers leaving the industry, it’s no wonder that people are starting to question the impact FoFA will have on the value of financial planning businesses. Here’s a personal opinion on how each of the proposals is likely to impact business valuations.

Advisers can be a little bit like the Queen of England during the day. Hear me out, I’m talking about hats. Lots and lots of hats. 

There aren’t too many professionals that get to wear as many hats as a financial adviser. Off the top of my head (pardon the pun), I can think of several and I know there’s probably a lot more...