In releasing the provisional Relevant Providers Expressions Determination 2018, FASEA has determined the final expressions to be used for a provisional relevant provider as “provisional financial adviser” or “provisional financial planner”, which may be used interchangeably.
FASEA also released the explanatory statement to go alongside the legislative instrument.
It said the legislative instrument was informed through consultation with stakeholders in July and August 2018 and through seven formal submissions received during FASEA’s consultation process in November 2018.
The instrument has been registered on the Federal Register of Legislation.
“We thank stakeholders for their input during the consultation process for FASEA’s provisional relevant provider expressions determination,” said FASEA chief executive Stephen Glenfield.
Yes but Labor loves debt
Bill will see it as a great opportunity for pushing additional SGC and FUM to Industry Super which in turn, will help secure funding for the Labor Party here on out – plus a great opportunity to finish off the retail super once and for all. How do you see Bill passing this opportunity up?
He must be tripping over himself to get to the polls…
Goodbye Scott Morrison!!!
Who would want to deal with a provisional financial ‘whatever’ when their future financial security could be at stake. Ah – but yes I hear you argue – they will be mentored and their advice checked by a qualified financial adviser…..where? Who?……the qualified ones are going to be running their ‘proverbials off” trying to keep up with the needs of their clients. No time for anyone but HNW clients…who probably would not want to be dealing with a ‘learner’ adviser. What a train wreck…hopefully Bill sees something very wrong with this picture and realizes the social context of all of this means that Labour will be deeper in debt than ever if this isn’t addressed and FAST.