AFA Advocating for Financial Advice at Parliamentary Hearing

AFA News 5 August 2021. On Thursday 29 July 2021, the AFA President Mike Nowak, Vice President Sam Perera and General Manager Policy and Professionalism Phil Anderson, presented to the House of Representatives Economics Committee as part of their Review of the Four Major Banks and other Financial Institutions.

Mike Nowak delivered an opening presentation, setting out the AFA’s views on the following:

  • Financial advisers are drowning in red tape and compliance related costs, due to the aggressive and never-ending regulatory reform agenda.
  • Access and affordability to financial advice continues to decline rapidly.
  • Existing financial advice clients are satisfied with their advisers and are the missing voice that needs to be considered in the context of reform.

There has been a lot of media coverage on the hearing and we thank those members who have also provided their feedback.

Please click here to see the opening presentation delivered by AFA President Michael Nowak.

Please click here to see a video of the AFA at the House of Representatives Economics Committee hearing.

For any questions on the AFA attendance at this Committee or more broadly on our advocacy agenda, please email policy@afa.asn.au

Issued 05.08.2021. AFA Policy & Education Update

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