The Association of Financial Advisers is calling on members to engage with local MPs and policymakers to combat “scare-mongering” over the FOFA amendment proposals.
AFA chief executive Brad Fox said that AFA members, as well as other concerned industry stakeholders, should engage personally with parliamentarians in the federal Senate and House of Representatives to lobby on the changes to FOFA.
“As a professional association we think it is incumbent on us to ensure that our politicians and the public are well informed on all aspects of the FOFA amendments,” Mr Fox said.
“We also think it is vitally important that the scare-mongering over consumer protection is addressed.
“With the FOFA amendments we will still have the most regulated financial advice framework in the world, including a legislated best interests duty that is well defined, understood and enforceable.”
Delegates to the GenXT roadshow this week will hear more about the proposed campaign, Mr Fox said.
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