The Australian Securities and Investments Commission and Financial Ombudsman’s Service have issued a statement indicating support for Financial Planning Week.
“ASIC strongly believes in helping Australians to better manage their money and create a brighter financial future. The FPA’s Financial Planning Week is an important initiative and we encourage all Australians to get behind it,” said ASIC deputy chairman Peter Kell.FOS Investment Ombudsman Alison Maynard said “Australians need professional financial advice and education about how to find good quality advice. We support the FPA’s Financial Planning Week and the FPA’s initiatives to raise professional standards in financial planning for the benefit of all Australians”. FPA chief executive Mark Rantall welcomed the support.
Several firms have been impacted by the corporate regulator’s action.
Super funds must now have a retirement income strategy in place.
Vanguard has called for a complete overhaul of the advice industry.
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