The Financial Planning Association has called on advisers to ignore incorrect information put out by the “superannuation product industry”.
In a statement released yesterday, FPA chief executive Mark Rantall said financial advisers should take advantage of the opportunity presented to their businesses by the amendments to FOFA.
“We have seen a predictable reaction to these amendments from sectors of the superannuation product industry, using fear and misinformation to once again depict financial planners in a negative light,” Mr Rantall said.
“Our position on these regulatory matters is quite clear: consumer protection laws remain intact and at 'world’s best' standard.
“Combined with this robust legal foundation, professional financial planners who have individually subscribed to a binding code of professional practice not only have nothing to fear, they have everything to gain in this new environment.”
Mr Rantall said while “others stand for product”, the FPA and is members “stand for advice and advice outcomes that make a lasting, positive difference in the lives of all Australians”.
SUBSCRIBE TO THE IFA DAILY BULLETIN
17 Jan 2018ASIC accepts license variation from HLB Mann JuddBy Staff Reporter
17 Jan 2018ANZ Wealth commences AI underwriting projectBy Staff Reporter
16 Jan 2018Reform of SMSF expat restrictions called forBy Staff Reporter
16 Jan 2018Adviser exodus an ‘avoidable scenario’By Killian Plastow
16 Jan 2018IOOF poaches Aus Unity advice execBy Staff Reporter
16 Jan 2018Breakaway Finance Group AFSL cancelled under EU with ASICBy Staff Reporter
- view all