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AAMC Training Group

AAMC offers you solutions based training and consulting options. Many Banks, Finance Brokers, Financial Planners, Dealer Groups, Accountants, Real Estate Agents and Insurance Brokers entrust AAMC to train their people with courses available for the whole of the financial services industry. Our consulting services are also popular for those wanting advice on how to improve their business and meet the ever changing regulatory environment. Contact AAMC Training Group today to discuss your current and future needs.

Future of Financial Advice (FOFA) reform

By: admin|

Whilst today’s announcement provides further details there is still much to be resolved. As a
result consultation is still ongoing and draft legislation will now not be seen
until after the middle of the year in July or August.

A summary of today’s announcement includes:

A ban on insurance commissions within superannuation from 1

Insurance loyalty plunges

By: admin|

Insurance customers take up on average just 1.5 polices and keep them for less than 5 years in contrast to 10 years ago, when they held 5 to 6 policies for up to 9 years.

Insurance companies spend more than $US336 billion annually in managing and settling claims but could

Planners resist compensation costs

By: admin|

Financial Planner dealer licences are fighting the potential extra requirement being mooted at the moment whereby the licence holder will be required to contribute 1% of their annual sales figure into a compensation fund, that will be used to compensate clients, when the funds default.

This fund will also be

Lines between Brokers and Planner to Blur

By: admin|

A leading training group has weighed into the debate over brokers offering
financial advice, saying brokers could draw regulatory attention by advising
clients on investment properties.

AAMC Training Group Managing Director Jeff Mazzini has told Australian
BrokerNews brokers could find themselves crossing boundaries if they advise
clients how to use their home loan.

“A broker

Deadline for MFAA members with AMC, AFC or CMC status

By: admin|

Members holding MFAA AMC, AFC or CMC status are reminded that they are required to provide evidence of a completed ‘Diploma meeting MFAA criteria’ by 30 June 2012. This initiative, implemented as a result of the MFAA’s strategic review, raises the professional standards of MFAA members well above those

Australian Financial Planners fight for equality for their advice

By: admin|

Australia’s financial services sector will continue to push for financial advice to be tax deductible despite the government stating it is not on their immediate agenda as they did not see it as a priority.

The fact is should the government allow for the clients to claim a tax deduction

National Credit Code Regulations Regarding Comparison Rates.

By: admin|

In line with National Credit Code regulations, legislation regarding to the advertisement of comparison rates has been amended.

Comparison rates no longer need to be displayed in the following circumstances:

• Comparison rate schedules no longer need to be produced

• Newspaper advertisements that just list interest rates – without any promotion

AFR Article Comparing Financial Planner Training and a Hairdressers- Ill-informed

By: admin|

An Australian Financial Review article published in the Weekend edition, February 26th-27th, comparing the ease with which a financial planner can gain licensed qualifications  to operate as against  a hairdresser requiring 3 years to qualify does neither profession any favours. It certainly shows a lack of understanding of how financial

Australian Regulators looking to alternatives for Insurance commissions

By: admin|

The Federal Government is looking at the current practices of commissions being paid on risk insurance sales by financial advisors  to their clients. This is certainly a hot topic in the industry as given the Australian population is under insured by more than one trillion dollars and advisors are saying that clients will not pay fees

Australian Tax Office using Benchmarking to expose variances in Taxation lodgements and EBay product sellers.

By: admin|

Whilst benchmarking has been around for many years many people do not really understand the ability of the taxation office to compare all businesses in the cash economy against their peers when submitting taxation returns. All the data that has now been collected over the past years and has been

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