The Stockbrokers Association of Australia has welcomed the government’s plans to introduce the adviser education reforms, adding that its association will now be only open to appropriately-qualified advisers.
Yesterday, Minister for Revenue and Financial Services Kelly O’Dwyer announced she will this year introduce the reforms that will lift adviser education standards.
SAA chief executive Andrew Green said, “We have consistently supported reforms to raise education, training and ethical standards in the financial advisory industry.
“These are critical steps to maintaining investor confidence and integrity within the system and they have our 100 per cent support.”
Mr Green added that the SAA would lead the financial advice industry in maintaining investor confidence and integrity by ensuring that advisers comply with the “toughest ethical and professional standards”.
“Our aspiration is to provide members of the public with confidence that when they are dealing with a member of the Stockbrokers Association, that person has the imprimatur of an association that sets the highest standards,” he said.
“Henceforward, membership of the Stockbrokers Association will only be open to registered financial advisers who have appropriate qualifications, pass a national exam, earn annual CPD points and agree to be bound by the SAA’s Code of Conduct.
“Membership will be a badge of honour; testament to an individual’s ability and integrity.”
SUBSCRIBE TO THE IFA DAILY BULLETIN
24 Nov 2017Increased ASIC licensing fees revealedBy Tim Stewart
24 Nov 2017FPA announces 2017 award winnersBy Staff Reporter
23 Nov 2017Fintech progress can't be fought: FPABy Killian Plastow
24 Nov 2017‘Winter is coming’ for PI insurance marketBy Aleks Vickovich
23 Nov 2017NowInfinity appoints new national sales directorBy Staff Reporter
23 Nov 2017Centrepoint creates new 'high performer' networkBy Jessica Yun
- view all