Give us a break , $2 miilion p.a. is not enough for him ??, will get $10 million p.a if market improves !!! What is the board thinking , Still have a Ken Henry nature about it . As a NAB shareholder I reckon , start with $2million p.a , no more and see how you go . The public are sick of the merry go round of bank execs . If he was any good he would stay where he is ???

Dante puffing up his tyres again. Must be salary review time for him. Ho hum. I take a glance at the headline and go back to sleep.

He'll make more in one year than most Australians will make in 3 lifetimes

I won’t rejoin the FPA even if Dazza gets released from rehab...nice one Dante. I can think of other ways to waste money rather than having the FPA muppets do it for me! Never again.

“There will be no more ongoing fee arrangements as we know them today but there will be an invoice for services actually delivered rather than for services that are promised to be delivered,” Mr De Gori said.

Says who you frkn moron... that business model doesn’t work in advisory and what is so wrong with a retainer model like any other professional services profession?!

Those who can, do. Those who can't, preach.

Other crazy cystal ball gazing ideas Mr Magoo and his $400K members paid salary included; CEO's of industry associations that get asked if taking 12 months to handle client complaints by the Royal Commission will tend to resign in the future. Industry associations also won't be putting in submissions stacked with broke Uni academics (such as FASEA) calling for the meaning of a degree to be a Bachelor of Financial Planning for all. Industry associations in the future will also act solely for financial planners and Australians and not in the following order of firstly themselves, 2) large insto's,3) product makers that give them the most members and 4) lastly financial planners...but planners and Australians. His last prediction in the future is that Treasury and policy makers might actually listen to them...but I doubt that.

How on earth has the fpa just made this sensational piece of news public, OMFG... we have been going through change for the last 6 years.
This is pure rehashing of old topics. Tell us something new IFA.
Dante and the FPA are so out of tune with not only members but the whole industry.
Bring on money coaching....

ha - here we go again - they cant stop can they..?
The FPA started all this shit in 2001 with FSR

Whilst getting the investment mix right is vital, there is more to good advice than just investment selection. For example, since this 1 July the Centrelink means tests were changed so that retirees who use products with longevity risk insurance only have 60% of the purchase price / income assessed. For a single 66 yo with $600k in super, this sees their next 12 months income increase from say $30,000 pa (assuming they draw the ABP minimum) to about $50,000 because they suddenly also get a decent part pension.

Just remember this is the body that sided with Senior Management of CBA when they blamed our fellow brothers and sister individual financial planners,... as the root cause of their problems.. Has a single CEO been jailed...no yet we're doing FASEA, we're seeing more regulation and over regulation. The future will not change with the current management of the FPA still at the helm. What's the point of doing study in that environment.

You can see how all the failed Lawyers (sorry Politicians) come up with this crap. Just call it as it is.... fewer planner = higher fees = fewer clients getting advice = most people being worse off. Can we live in reality and not some ideological fantasy world!

Yet the FPA will live in the 1980's.... and sees it's future as being in the pockets of large institutions.

Invoicing after each review, phone call or letter etc, that's a total change to business practice and cash flow. If this is the way forward by FPA but the client still likes the current system--mayhem will result and loss of membership numbers for the FPA. Maybe member input will snuff this idea or a big move to a new association.

Do female financial advisers always talk to their male clients in a manner which they feel comfortable and not disempowered?
Do female advisers use jargon and acronyms when speaking to male clients or any clients ?
Do female advisers treat their male clients with as much compassion as they would when dealing with a female client ?

and let me guess, dante and fpa are going to lead the overhaul. bring back dazza i say, that was a great campaign.

until you stop accepting payments from product manufacturers you won't be able to lead on anything.

why won't you give up this drug. i'd rejoin if you did.

If advisers are charging clients directly from their bank accounts then why would they bother to do the training, compliance, SOA's, adhere to the Best Interests Duty and all the other rubbish and associated costs which come with being called a financial adviser.

Why wouldnt we just call ourselves money coaches and provide advice like all the other people who operate in the wealth creation industry without any of these time wasting proceedures and costs. Accountants do this daily. Property spruikers get away with everything.

We could still give exactly the same advice and help people apply for the investment product/insurance/super policy as these will all be made available direct to the public after FASEA gets rid of 50% of advisers and product providers need another way to distribute their products.

Oh dear...another rehash. Ex AXA and more critically, CBA. Good luck NAB.

How can I get a copy of this report please?

FASEA is creating confusion and will force many competent advisers out of the industry. People who know are saying it is all an unnecessary burden on planners but who out there will challenge FASEA. We need some common sense in all this change.