Media Releases - 2008 - 2010

The following table gives details of AIA media Releases for 2008 - 2010.

Date Issued	Title
8 March 2010	Hidden payments to advisers jeopardise retirement income The Australian Investors Association (AIA) has joined the debate on the cost of superannuation and argued for changes to the remuneration of financial planners. The investment industry has a high cost structure that can’t be explained by genuine costs or overheads. These costs are a function of remuneration to financial planners and they cost investors dearly in lower returns.
15 February 2010	Submission to the Super System Review – Phase 3 The submission reflects the views of AIA members who responded to a survey in late 2009 and addresses the four main issues in the consultation paper: the trust model; the regulatory framework; the operation and efficiency and investments.
25 November 2009	Investors give Ripoll Report a Pass overall “We set a very high Pass mark for the Inquiry and while they struggled in parts, we believe that the result was a good effort. From us a Pass overall.” The AIA included ten recommendations in its submission to the Inquiry, looking at what happened in the Storm Financial situation, and working out what changes would be best from the point of view of the investor.
18 November 2009	What the takeover tells us about financial planning The takeover of AXA by AMP with AMPs 2,000 financial planners swelling to 4,000 tells a compelling story about the business they are in. They’re in the business of selling investment (and insurance) products. Selling not giving advice.
5 November 2009	Investors call for reconstruction of financial services industry The Australian Investors Association (AIA) has called on the Ripoll Inquiry into Financial Products and Services to stand firm and take on the tough task of reconstructing the financial services industry. The Inquiry is due to report in 3 weeks.
3 September 2009	Joint Committee on Corporations and Financial Services Read the testimony (pages 47 to 62) of Jolyon Forsyth, President and Scott McKenzie, Vice President to the Joint Committee headed by Bernie Ripoll, MP.
2 September 2009	Investors push for post-Storm clean-up of financial products, services The Australian Investors' Association will challenge a Federal Parliamentary Inquiry into a spate of financial service providers, including Storm Financial, to recommend sweeping changes to the regulation of financial products and services.
4 August 2009	Positions Statement: Financial Products & Services At the recent AIA National Investors Conference (26-29 July 2009) 137 participants responded to the AIA submission into financial products and services to the Inquiry being conducted under Mr Bernie Ripoll as chair. The results of this survey were presented to Mr Bernie Ripoll at the closing session of the conference.
29 July 2009	Investors propose 10-point plan to improve financial products and services Australia, let alone its investors, cannot afford future collapses. We require strong regulations and standards backed up by vigilant monitoring and enforcement.
16 July 2009	Financial Services and Products Inquiry Chair to address Investors conference AIA president Jolyon Forsyth said Mr Ripoll’s attendance at the Conference was very important as the issues being considered by the Committee’s Inquiry into Financial Products and Services in Australia were of critical importance to investors.
15 July 2009	Investors welcome call for 12% super guarantee The Australian Investors’ Association has welcomed incoming Investment and Financial Services Association executive John Brogden’s call for a 12 per cent super guarantee.
24 June 2009	Appointment of Justice Callinan to help Storm-affected bank customers welcomed The Australian Investors' Association has welcomed the appointment of former High Court Justice Ian Callinan by the Commonwealth Bank to assist customers affected by the collapse of financial service provider, Storm Financial Ltd.
23 June 2009	Park "Ute-gate" and focus on investor issues Investors want the Federal Parliamentarians to focus on issues affecting investors rather than the almost sole preoccupation with the so-called "Ute-gate" affair.
17 June 2009	Investors welcome action to scrap financial adviser commissions The Australian Investors' Association has welcomed the announcement by the organisation representing financial advisers it wants commissions paid to these advisers scrapped.
3 June 2009	Market not “R”-word talk key focus for investors Investors were not swayed from their focus on the market with speculation whether Australia was in a “technical recession” or not. Australian Investors Association (AIA) president Jolyon Forsyth said investors took more comfort from the local equities market barometer - Standard and Poor’s ASX Top 200 – posting a year-high.
9 May 2009	Investors “very nervous” about Federal Budget Leaks particularly about foreshadowed changes to superannuation, meant investors would be listening to the Treasurer’s budget speech with more trepidation than previous budgets.
1 May 2009	Tax review should retain dividend imputation Australian investors overwhelmingly support the retention of dividend franking credits in the tax system, urging the Henry Review to focus on other areas of reform.
30 April 2009	Inquiry into Financial Products and Services The AIA’s submission to the Parliamentary Joint Committee on Corporations and Financial Services makes a strong case against commissions as a way of paying for financial advice. It strongly highlights the conflict of interest of advisers paid this way giving examples to illustrate this. It further recommends that government support be made available for an ‘early-warning system’ for investors faced with investment offers that are of dubious worth. Overall it makes a case for a much more professional financial adviser.
3 March 2009	Investors expected rate cut, but they favour infrastructure spending A survey of AIA members has found that spending on infrastructure projects was the most popular strategy needed to guide the economy.
3 March 2009	What Investors Want A survey of 500 Australian Investors’ Association members has found that investors clearly want: - Upfront, hourly fees for financial planners - More regulator action on dodgy products & advice
3 February 2009	Investors expected rate cut, but they favour infrastructure spending Most Australian investors expected the Reserve Bank to cut official interest rates today, but most favour infrastructure spending to help manage the Australian economy, a survey has found.
30 December 2008	Queensland investors approach 2009 cautiously Most Queensland investors believe the Australian stock market is undervalued, but few are “bullish” about the performance of their own investment portfolios next year, a survey has found.
Year 2006	All releases for 2006
Year 2005	All releases for 2005
Year 2004	All releases for 2004
Year 2003	All releases for 2003
Year 2002	All releases for 2002
Year 2001	There were no releases in 2001
Year 2000	All releases for 2000