Following Malcolm Turnbull’s election victory, the FPA has said it will continue working with the government to ensure the “highest professional standards” are implemented for advisers.
In a statement, FPA chief executive Dante De Gori said changes to superannuation, education and professional standards and life insurance frameworks will be key policy areas for the FPA to address with the returning government.
“The FPA is committed to promoting education and professionalism, and we will continue to work with the federal government on the implementation of policies that ensure the highest professional standards,” he said.
Mr De Gori added that the FPA will also continue its work in educating Australians around superannuation.
“The proposed $500,000 lifetime non-concessional cap, changes to the transition to retirement (TTR) strategy and the reduction of concessional contribution cap thresholds were of particular concern in the May budget announcement, as it means that almost all financial planners and clients will have to review the circumstances of those approaching retirement,” he said.
“The election results demonstrated that voters are also dissatisfied with proposed changes to super. Though the FPA looks forward to working with government on the proposed super changes, we will continue our advocacy work to help Australians navigate around these more complex rules, and plan for their retirement accordingly.”
Further, Mr De Gori added that FPA members are encouraged to engage with their local federal MPs.
“We have developed a new advocacy kit, which enables FPA members to reach out to their local MP. By working with local members of parliament, we can raise community awareness of the power of financial advice in achieving financial independence,” he said.
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