Speaking to ifa, AIOFP executive director Peter Johnston said the changes to the country’s leadership were a positive for financial advisers “on two fronts”.
“Firstly, we considered Turnbull to be the source of a hard line towards our industry and his departure is welcomed,” he said.
“We think Scott Morrison is more pragmatic, understands our industry and will be easier to deal with than his predecessor.”
Additionally, Mr Johnston said the changes have better positioned the AIOFP’s FASEA campaign efforts.
“We had already commenced our lobbying process on senior Coalition ministers and feel [last week]’s events will greatly assist our position,” he said.
The FPA declined to answer ifa’s questions regarding the leadership changes, and a spokesperson for the AFA was not able to respond in time for publication.
The FPA is too busy talking to AMP and getting new members to do anything productive for planners or even talk to the press. Congratulations to the AIOFP for being pro-active. Hence why I cancelled my FPA membership.
Well, speaking as a retail consumer of your services, I’ve lost any trust in your industry. Current events may not be good for older players who are used to easy money but in the long term, the FASEA regime will be the only way to restore trust. I would prefer a fully independent adviser. In short, I would prefer the small risk of incorrect advice to the certainty of conflicted advice.
Of whose services?
Glen, your perceptions are valid for some who operate in the manner you describe. Rest assured, the are older and younger advisers who are honest and ethical and certainly trustworthy. The RC has shown the public what a number of advisers have been stating for a while. Don’t lose faith in an industry that is basically good, just aim your distrust at the those involved and the big guys- banks etc that have caused this fiasco. Oils ain’t oils applies in this case to advisers.
and not only incorrect advice, but higher blood pressure, weight gain, less time with family, less time with friends, less time on hobbies, less time with Charities……more time reading irrelevant trade publications it seems Glen. There are plenty of a great advisers around. Maybe you should not believe everything you read.
Glen, so why should very well educated Finance / Economics degree, Financial Advice diplomas, SMSF and Estate Planning specialists course trained adviser, with 20 years experience and independently owned have to go back to school ?
Tell you what Glen, come see me for some good advice and i’ll have to charge you a FASEA cost reimbursement additional fee to make back the $120K in time and course costs i will have to pay.
It’s hard to imagine the new minister can possibly be more Arrogant and more destructive to Financial Advisers and Superannuation than Over Complicated O’Dwyer.
I am very pleased to see the end of ODwyer in Financial Services portfolio !!!!!!!!!!!!!!!!!
“We think Scott Morrison is more pragmatic, understands our industry and will be easier to deal with than his predecessor.” Funniest line I’ve read today!
Peter Johnston, you reckon Dutton would have been better? Do tell.
These idiots have learned nothing from the events of last week. While ever Abbott is still in parliament & he harbours designs to return as PM (as he told Ray Hadley on 2GB this morning) the LNP is toast. We will have a Shorten Labor government sometime next year which will be disastorous for our industry.
Jimmy, Bill Shorten is not disastrous for our industry, Bill Shorten will be a disaster for every single constituent and make Australia a laughing stock on the world stage!
How will Billy be any worse than this current mob of incompetents? People have to remember that politics is not footy (you don’t have to follow the same team for life!)