On this episode, Phil discusses the AFA’s Quality of Advice Review (QAR) submission, the association’s opposition to some other submissions entered by industry groups, and why the QAR alongside the appointment of a new financial services minister signals a huge change for the sector.
“I think the Quality of Advice Review is what is going to address the fundamental issues that we have at the moment with access and affordability of financial advice,” Phil said.
“I think all of them are hopefully going to contribute to what we would like to see, which is a return to growth in the advice market, and that means more advisers. We want to hold on to as many of the existing advisers as we can. We want a steady flow of new advisors into the market.”
He added: “I think we’ve got to a point where the demand for advice exceeds the supply. All the conversations I have suggest that people are not having any difficulty finding new clients, and some businesses are going really well.”
Listen to the full episode below.
