In a statement today, ASIC said the Financial Advisers Consultative Committee (FACC) will be made up of practising advisers.
The committee “initial members” include:
- Craig Banning (AMP Financial Planning)
- Chris Brycki (Sanlam Private Wealth)
- Jennifer Brown (JBS Financial Strategists)
- Steven Dobson (NAB/Meritum Financial Group)
- Mark Everingham(Bombora Advice)
- Tony Gillett (Retirewell Financial Planning)
- Adam Goldstien (AMP Financial Planning)
- Cathryn Gross (The Wealth Network)
- Suzanne Haddan (Baldry Financial Services)
- Kevin Smith
ifa could not immediately confirm which licensee Kevin Smith is licensed by.
The FACC is designed to build on ASIC’s existing engagement with the financial advice industry, the statement said.
For instance, the committee will contribute to ASIC’s understanding of issues in the financial advice industry, including those directly impacting on practising advisers.
The FACC will also improve ASIC’s capacity to identify, assess and respond to emerging trends in the financial advice industry, the statement said.
ASIC deputy chairman Peter Kell said, “ASIC has extensive engagement with participants in the financial advice sector as well as financial advice industry bodies and consumer organisations.
“We saw benefit in extending our interaction with this sector through the establishment of a committee made up of practising advisers.”
“The establishment of this committee is part of ASIC’s ongoing commitment to enhancing its engagement with its stakeholders,” he added.
unbelievable
Why wasn’t this done before the most recent legislative changes where made. This is absolute madness and clearly demonstrates that what has occurred was as a result of a very long standing agenda that irrespective of the real facts was going to be prosecuted, the lunatics are running the asylum. I attended some of the recent PJC hearings in Sydney and it was appalling to see the politicians lapping up some of the rubbish that was being presented to by the likes of organisation such as Choice, broad brush statements with absolutely no facts to back them up, Choice should stick to commentary on white goods. Recently the ACCC ruled that putting caps on commission on insurance sold by car dealers was anti competitive, tell me why that shouldn’t also apply to life insurance, because ASIC are driving this agenda and to avoid ACCC scrutiny went straight to the legislators. Politics is a filfithy game.
Will membership fees to the FPA/AFA be reducing ? Isn’t that there job, to consult represent us with government ? Or is ASIC saying these organisations are a waste of time, we don’t listen to them and we need to get others..
What was the selection process for this committee. I was not invited so it can’t be very good representation.