AFA News 30 April 2021. Thank you to all the members who attended the Annual Renewal Webinar on Tuesday 20 April 2021, and to those who asked questions.

There was strong member attendance, as many advisers are starting to think about how they implement the Annual Renewal regime and consider the decisions that need to be made in advance of the commencement date of 1 July 2021. There is lot of complexity involved in the transitional arrangements, and it is important to understand this as soon as possible.

Since the webinar, we have further investigated some of the issues that were raised and commenced discussions with the Government and ASIC.  One of the key questions has been from advisers who operate with all their clients on a financial year FDS calendar, and how they can retain this model as part of the transitional arrangements. We encourage licensees and advisers to think about what model to take forward into the new regime. We will come back to members with answers to these key questions as soon as possible.

The webinar went through all the factors involved in these reforms in some detail. Any member who was unable to watch the webinar live, is encouraged to see the recording of the webinar here. In addition, there is up to 1 hour of CPD available.

For any feedback on this please email policy@afa.asn.au

Issued 30.04.2021. AFA Policy & Education Update