The AFA and Synchron have welcomed the Coalition’s federal election win, saying now is the time to look to the future and to properly batten down regulation such as the Life Insurance Framework.
AFA chief executive Brad Fox said in a statement that the close result puts pressure on all sides of politics to put the nation’s needs first.
“Australians are looking for a clear vision of the future, well-considered policy and strong leadership,” said Mr Fox. “The constituents of the financial advice sector share this view.
“We will continue in our role of representing to government the key issues and opportunities to raise trust and confidence in the financial advice profession, enabling the value of advice to be experienced by more Australians.
“We will also represent policy positions that lead to furthering the ability of more Australians to take control of their financial futures,” he said.
The association said it is awaiting the announcement of the government’s ministry before proceeding to Canberra.
“There are a number of new politicians with which the AFA will now engage alongside continuing our advocacy with Labor, the Greens, minor parties and the independents,” Mr Fox said.
Non-aligned dealer group Synchron also said it is pleased to see the return of a Coalition government, with Synchron director Don Trapnell noting that now is the time
“Now is the time to look at issues suchto look to the future. as the LIF in the cold light of day and see how it will be implemented,” Mr Trapnell said.
“The basic thrust of LIF is there, but there are certain areas we need to refine.
“We look forward to continuing in our communication with the government and being called up on in this capacity,” he said.
Mr Trapnell added that government should look toward the non-aligned sector.
"Synchron has the greatest reach when it comes to communicating with financial advisers whose views are not tainted by corporate influences, product providers or the banking sector," he said.
"With over 400 advisers now, Synchron represents a great source of truth for the government on the issues that matter in the financial services industry of Australia. We look forward to continuing in our communication with the government and being called upon in this capacity."
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