AFA outlines 2014 policy priorities

Policy and advocacy will again dominate the agenda in 2014 following a demanding 2013, according to the Association of Financial Advisers.

AFA president Michael Nowak said the market was entering an exciting phase with many opportunities for advisers.

“We are again taking the initiative next year to help advisers and their practices find the opportunities that exist in our rapidly changing market,” Mr Nowak said in a statement.

“Consumers, legislation and business models – they are all changing and a time of change is synonymous with a time of opportunity.”

AFA chief operations officer Phil Anderson pointed to the Murray Inquiry into the financial system and has already begun a consultations process on MySuper and default superannuation.

“The Financial System Inquiry presents an opportunity for a number of important issues to be addressed, including the implications for consumers of MySuper, corporate super advice, superannuation governance and external dispute resolution schemes,” Mr Anderson said.

Referring to the 22 submissions which the AFA made last year to various agencies, Mr Nowak said he expected the coming year to be just as busy.

“We are actively engaged with the government and expect to provide significant input into the Financial System Inquiry and any other inquiries that may be subsequently launched.” Mr Nowak said.

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