How FOFA will impact brokers

by AB16 May 2013

Alongside the future of financial advice reforms, the roles of brokers and planners are converging. Mark Wollnough of ING DIRECT commented to BrokerTV at the 2013 MFAA Conference that it’s important for brokers to stay abreast of changes within the financial services industry.

“I think one of the interesting things at the moment is to follow the developments of the FOFA reforms in the financial services and planning side of the world and keeping in mind the potential changes that will lead for our own industry. It’s quite interesting to see the change in dynamics and changing customer expectations as driven by FOFA and the impacts that has on the advice model.”

Woolnough says it’s not a case of brokers and advisers becoming the one role, but sharing knowledge and developing more strategic partnerships.

To view the full interview with Mark Woolnough, CLICK HERE