Exchange-traded funds are expected to be one of the beneficiaries of the FoFA (Future of Financial Advice) reforms, which became mandatory on July 1.
The reforms are focused on improving the quality of financial advice and enhancing retail investor protection. ETFs are expected to be used more by advisers to address these requirements. Alta Vista Research head of sales and corporate development, Michael Turner, says as a product, ETFs have the flexibility of direct shares and the strength of a managed fund.
Asset Magazine – Aug 2013