Assistant Minister for Superannuation, Financial Services and Fintech Jane Hume has indicated there could be “more to come” in terms of regulatory relief for advisers as one of the most tumultuous years for markets and the economy draws to a close.
In a preview address ahead of the AFA National Conference later this month, Ms Hume said she had spoken to “hundreds” of advisers in the last year and had been listening to their concerns around regulatory change.
“Progress has been made and there’s more to come,” Ms Hume said.
“We want you to be able to do what you do best.”
Ms Hume said it was important for the advice industry to speak with a united voice to government around issues that needed addressing, adding that increased demand for advice as a result of COVID-19 made it even more critical to get the regulatory settings in the industry right.
“The economic road ahead is going to be a rocky one and many Australians will face challenges that they never would have anticipated,” she said.
“More than ever, Australians will look to their trusted, professional financial adviser to see them through.
“A united and positive vision for financial advice and the value and opportunity your industry provides is so important.”
Ms Hume said she looked forward to providing further updates from the government later in the month and expressed thanks to advisers for helping clients through one of the most challenging economic periods in recent history.
“We’re facing tough times as we deal with the ongoing challenges of COVID-19, especially in Victoria where normal feels like it’s a long time away,” she said.
“Thank you for continuing to deliver what is an essential service at this time of great uncertainty and stress.”
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