The more research I conduct on the valuation of financial planning practices, the more I feel the need to subsequently communicate the importance of assistance in preparing and forward-managing a financial planning practice.
The main areas of deficiency in this area appear to be the large amount of financial practices that are ill-equipped for proposed FoFA changes and a lack of business accountability and/or planning (including initial set-up and ongoing monitoring of budgets and adequate financials) required to adapt to these changes.
It is also interesting how various FoFA changes would appear to have a direct affect over the sale of holiday packages in the tourism sector. My understanding is that lobbyists will be working hard on gaining an exemption for this sector in the regulations, as failure to do so could see many thousands of jobs in the tourism industry go!
