Opportunity for Financial Advice Improvements

AFA News 5 November 2020. Further to the discussion above about the ASIC Unmet Advice Needs project, and comments that the Minister made during the AFA Virtual Conference, there is a new and exciting focus upon the challenges faced by the financial advice sector and the need for both Government and Regulators to find ways to reduce the cost and complexity of providing financial advice.  We warmly welcome this change in sentiment, but also recognise that this presents a limited opportunity to drive change.

The AFA is currently working on a policy vision statement, and we still want your input via policy@afa.asn.au. ASIC will be consulting shortly and seeking input from the financial advice profession on how they can improve the operating environment. The Government is also interested in any regulatory change that will make it easier to provide quality financial advice to everyday Australians.

For any regulatory reform ideas, please email policy@afa.asn.au.

Issued 05.11.2020. AFA Policy & Education Update